If you are reading through this section, perhaps you have met me in some capacity, or have been referred to me, or are wondering what the next steps might be. The process outlined below: from the first preliminary meeting through to the on-going relationship is only as effective as the effort and attention to detail put into it. This is equally the work and preparation that our team commits upfront, as well as the thought, time, effort and transparency provided by the client.
I try to make the process thoughtful, thorough and engaging. We will go through questions and scenarios that encompasses more than a traditional assets liabilities income template. The result of this is a robust financial plan, unique to your situation
Wealth planning for my clients is rarely straightforward, but it's always illuminating. As the client, you’re actively involved in setting goals, objectives and comfort with risk – my role is translating this information and objectives into optimal investment strategies for your unique situation
Here are the steps:
First: A Discovery Meeting
In our initial meeting I get to know you on a personal level, as you do me.
- The biggest mistake that most advisors make in an initial meeting is focusing mostly on determining: "what is your risk profile"?
- The second mistake is entering a preliminary meeting, armed with a bunch of packaged products and solutions to pitch
- Risk is as much a subjective and emotional question as it is a financial consideration.
- One's relationship with money and risk is almost always influenced by the past and their personal history
- Only when we truly listen and understand each other can we make the determination if we are the right fit. In this first meeting, I don't have anything to "sell"
Second: An Investment Plan Meeting
Once my team has completed our analysis, we will meet again in person and I will present:
- a complete analysis of your current financial situation
- investment strategies for achieving your goals
- timeline for meeting with various members of my team for planning, taxes, wills and estates, legacy, pensions, etc
This investment plan will serve as a roadmap for all of our work together. We both want to build life-long relationships and be sure you are completely comfortable.
Third: Agreeing to work together
Often the second and third meeting occur simultaneously. We are making a mutual commitment to work together. I answer any final concerns you may have about the investment plan, or other questions that have come up, and help you execute all of the necessary paperwork.
Forth: 45-Day Follow-Up
In the weeks following the opening of the accounts, there is a lot to digest:
1. Receiving new statements
2. Obtaining access to RBC DS Online, and learning how to navigate it to access information
3. Interacting and getting set up with meetings from other members of our team.
This is an opportunity for all of us to get comfortable with this new relationship. My team will help you understand what you have been receiving, as well as help you get it all organized and implementing our financial strategies to realize your goals
Fifth: Regular Progress Meetings
We determine how often to review your financial situation. I have clients who tell me: " I don't want to hear from you unless there is a problem, I trust you" I have clients that need frequent communication. At a minimum I require an annual face to face meeting. But I don't have a "template": I work with each client to ensure they are comfortable and in agreement with ongoing communications. You will also get my weekly Kingsmill's Investment Miscellanea column. Each quarter and at the end of the year, each of my clients receive a detailed financial
If you would like to learn more exploring whether we might be a good match to work together, please don’t hesitate to contact us . We look forward to hearing from you.