Your advisor will guide you through the entire financial planning process from first meeting to maintenance and review of your portfolio. You will truly partner with your advisor to achieve long-term results. You will be working together to discover the information necessary to achieve your financial goals. The stages of this process are as follows:
Stage 1: Initial Inquiry
You will be provided with a brief description of our services offered, investment philosophy, planning methodologies, and fees charged for services. You may be directed to our web site for more useful information. If both you and the advisor feel that services are appropriate, an introductory prospective meeting will be scheduled.
Stage 2: Prospective Meeting In-Person / Teleconference / Virtually
An initial meeting is scheduled with your advisor to further discuss our services and fees. This provides a time to explore suitability, and discuss which services are appropriate for you. If it is jointly agreed upon that our services will be beneficial, an agreement will be formulated to outline the scope of our services provided to you. We will also provide a list of information that we will need from you to start formulating your financial plan.
Stage 3: Compiling / Analysis of Data
In order to deliver the best possible, comprehensive plan by your advisor, you will be asked to complete a straightforward questionnaire or verbally discuss relevant financial information that will aid in the financial plan preparation. This information will be communicated discretely, protecting your personal data. Your assistance in giving thorough information at this stage is important as input to the financial planning process.
Stage 4: Development and Delivery of Plan
Upon receipt of the questionnaire results, using financial planning software and other tools, we will complete a comprehensive financial plan for your review. Your advisor will coordinate a time to review your plan in detail with you. This is the first major step in our partnership together, and achieving your financial goals. Included in your plan will be a summary of your own personal income statement and balance sheet showing inflows/outflows as well as projected assets/liabilities.
Stage 5: Professional Asset Management
Your advisor has expertise in managing your assets for the long-term. We have the capability of managing your investments on an ongoing basis, held in custody by our custodian, Interactive Brokers, LLC. As part of this step, we will give you an Investment Policy Statement that will outline your risk tolerance, return requirements, time horizon, tax/legal constraints, and liquidity needs. We will work together to create a portfolio, analyzing any existing assets, that matches up to your needs and integrates the goals of your completed financial plan. PortfolioFix charges a reasonable assets-under-management (AUM) fee for this service.
Building a financial plan and investment portfolio is an ongoing process. Annual updates to your financial plan will be an included aspect of your relationship with us. Your portfolio, if managed by us, will be rebalanced regularly as the market moves, or your goals change.