John Page tag:blogger.com,1999:blog-12357449 2006-05-01T15:25:52Z Blogger
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 true Max The Intern 2006-05-01T12:11:00-07:00 2006-05-01T15:25:52Z 2006-05-01T15:25:52Z tag:blogger.com,1999:blog-12357449.post-114649715271428806 RAMPING UP THE WEALTH ENHANCEMENT PROCESS IN YOUR PRACTICE Part 4
The services provided to you will include the following.

� A Review of Life Goals and Objectives�This means documenting your goals and objectives to ensure compatibility with your current financial circumstances and reasonable expectations about the future. In other words, telling you if your goals are realistic

� Summary of your Current Financial Situation�Presentation of a clear picture of where you are right now in terms of net worth, investments, cash flow and tax.

� Financial Projections and Analysis�An analysis to determine if your current behavior will allow you to achieve your objectives. Are you really going to get what you want, based on the decisions you have already made?

� Financial Strategy�Creating a very clear picture of what you have to do to get what you want. This is the key to achieving your life goals.

� Investment Management Strategy�A personal investment strategy that identifies the asset allocation that offers the highest probability of achieving your required rate of return with the minimum level of risk. This would also include recommendations on the most appropriate way for your assets to be managed.

� Action Plan�This is a clear list of all the Action Steps necessary for you to maximize your progress toward achieving your goals over the next 12-24 months.

� Monitor and Review�This involves monitoring and reviewing your portfolio with you at a pre-determined frequency measured against a personal benchmark necessary to achieve your objectives.

The advantages to the client of this type of service versus "picking the best fund for your RRSP this year" are obvious. They are getting a huge problem solved, that being an awareness of "exactly what I have to do to achieve all of my goals." The answer is provided for them. The advantages to the advisor are also substantial. In addition to experiencing better client loyalty, providing this type of service will also typically allow the advisor to manage 100% of each client's assets (provided you do some other things right, such as actually using Engagement Agreements).
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