Our Process
DISCOVERY
The first step in any wealth management relationship is Discovery. This takes place during our initial meeting or phone call where we get to know your needs, goals and financial situation. We will complete a Confidential Investor Profile by asking you a series of questions about your income, expenses, assets, liabilities, goals, and risk tolerance. We will also request copies of all account statements. The goal of the discovery process is to get a complete understanding of your current financial situation and your objectives so that we can develop a tailored financial plan.
PROVIDE INSIGHT
Once we have a complete understanding of your financial situation and objectives, then we will analyze your current portfolio. This includes looking at the asset allocation, performance, risk level and fees. As a result of our analysis we will prepare an Investment Proposal. This report will have our suggested changes to the portfolio. The report will typically include recommendations for asset allocation, investment selection, and fees keeping in mind any tax implications.
IMPLEMENT
Once you have agreed to our recommendations and made the decision to work with us, then the plan can be implemented. This will initially involve opening new accounts and transferring your assets to RBC where they will now be under our guidance and direction. To implement the Investment Plan we will need to rebalance your portfolio, sell or buy assets recommended in our proposal to ensure that everything aligns with our new investment strategy in order to meet your goals and objectives. We will work with you, our client to ensure that the Investment Plan is implemented smoothly and effectively.
MONITOR
Once we have implemented your personalized investment plan, we as your financial advisor will continue to monitor the portfolio on an ongoing basis. This includes tracking the performance of the portfolio, making adjustments as needed and providing you with regular reports. We will have a quarterly review where we will go over the portfolio’s performance and risk tolerance to ensure that we are still on track to accomplish your goals and objectives. Of course as your wealth management specialist, we are always available to answer your questions and provide guidance as needed.