Real wealth management consists of comprehensive financial planning and portfolio management with a level of personal service that goes beyond the traditional banking, brokerage and insurance services. Wealth management should be about you, your vision for your future, and the legacy you want to provide your family, friends and your philanthropic endeavors. Financial Planning is an extremely complex skill and requires on-going continuing education, the successful passing of board certified exams, years of training, and the experience and wisdom acquired from those years of training. Its components are not only complex but also mutually dependent upon one another.
Our Plan. Achieve. Live. ® service is our proprietary wealth management process. It is designed to help our clients articulate their goals which are then used to develop their financial plan. The process keeps our clients on track toward achieving their goals by measuring their progress and adjusting their plan along the way for those things that life tends to throw at us during our journey. Since most of the planning components are directly interrelated and interdependent upon the overall wealth management process, it is important to keep in mind that other financial professionals such as accountants, attorneys, and brokers who may also be providing guidance with taxes or estate planning matters must be fully aware of the wealth management process. Recommendations or suggestions, taken in isolation may not seamlessly integrate into one’s overall wealth management plan. Therefore, it is very important that clients contact their wealth advisor before implementing any recommendation regarding their overall wealth management plan.
Asset allocation is another important component of our Plan. Achieve. Live.® process, and determines the majority of a portfolio’s return. When we develop a client’s wealth management plan we take into consideration a number of factors, including their age, time horizon, risk tolerance, cash flow needs, tax bracket, goals, and more. Some individuals within the financial industry seek greater returns with high-risk vehicles without regard for the client’s risk tolerance and goals. We have always been very conservative in the assumptions we use in our wealth management process. This means that we are more likely to consistently produce the returns we are looking for, with lower risk over longer periods of time, with appropriate adjustments made along the way. We believe that clients who continuously communicate their financial situation with their advisor are more likely to achieve their goals.
It’s human nature to always want more of a good thing, and to have emotional reactions to situations involving money. Unfortunately these behaviors can lead to less than desirable portfolio results. Our process guides us to sell a portion of the portfolio that has recently done well and allocate the proceeds to a portion of the portfolio that has not recently performed as well. This technique is called rebalancing. Rebalancing allows us to sell some of an asset class when it’s high and performing well, and buy some of another asset class when it’s low and underperforming. Disciplined rebalancing of a portfolio reduces exposure to asset classes that may have performed well and may now be overvalued. Individual investors tend to do the opposite and buy assets that are now performing well, going against the standard “buy low, sell high” rule. Rebalancing your holdings also helps remove the emotion from the investing process.
Using our Plan. Achieve. Live. ® process we develop strategies and action plans that guide the activities we perform on your behalf. Whether your portfolio needs large or small changes, our Plan. Achieve. Live. process is used for all of our client recommendations.
For more information or to discuss your wealth management with a Senior Wealth Advisor, please contact us by calling 631.218.0077 or send us an e-mail at firstname.lastname@example.org.
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