Introduction: The first step is to schedule an appointment to determine if there is a “FIT” to ensure that we are mutually committed to a long-term relationship and fully understand each other. All clients receive a confirmation letter with a list of information they should have for the initial consultation.
Initial Consultation: During the first meeting, financial and personal goals and objectives are discussed as well as any other issues of concern. Risk tolerance is defined and an Investment Planning Profile is completed. Both the client and us will consider our chemistry, investment objectives, and our ability to trust each other and begin a long term relationship.
Develop Specific Investment Plan and Strategy: After the initial meeting and a determination of whether there is a desire to commit to a long term working relationship, we will complete an investment plan for every client. Any estate planning issues are addressed and copies of statements, trusts, and tax returns are obtained to aid in developing an investment plan and consolidating accounts. This includes an analysis of retirement income, investment asset allocation strategy, an estate plan, net worth statement, and a plan of action.1
Second Meeting: During the second meeting we will review all the information discussed at the first meeting, present the completed wealth management plan, address questions or concerns and make any needed adjustments to the plan. At this time we will introduce our team and their individual responsibilities, discuss how we service our clients, open accounts, sign forms and review services offered by Gomberg / McQuilkin Wealth Management Group.
Implementation: After accounts are open and assets are transferred into Wells Fargo Advisors Financial Network, we will reallocate investments to reflect the recommendations of the investment asset allocation strategy and send out a welcome package.
Review and Monitoring: Throughout our relationship we will continue to keep each client updated through regular telephone conversations and provide educational material through a weekly email with a link to current articles. An annual review of your wealth management plan and investments will provide an opportunity to adjust investments as necessary.
1 Wells Fargo Advisors is not a legal or tax advisor.
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