Hi, my name is Brian Beattie- I’m a Certified Financial Planner® and Senior Vice President of Investments at Wells Fargo Advisors.
Our process for meeting prospective clients begins with what we call a “Fit” meeting. This is where we either meet in our office or via video or phone call. We aim to for the meeting to take no longer than one hour and we want you to think of it as a “get to know each other” meeting. During the first half, we would like to know your background, experience and family dynamic. Then we will finish the meeting by going through our team’s background and the process that our clients go through, including our service and fee structure. Our goal is for you to have clear expectations if you decide to move forward
I also want to preface by saying that there will be NO decisions made during the meeting. In fact, we will wait at least two days before we reach back out to you. We would like you to reflect on the meeting and take the time to see if you are ready for a long term commitment with our team. We will also discuss your situation and make sure we are the right team to help accomplish your family’s financial goals. After two days, we will call and discuss if we want to move forward.
Once we decide to work together, the next step is to have your gather your financial documents. These include your investment and retirement account statements, as well as other documents pertaining to all the areas of your financial life. We will also be determining “what’s important to you?”, which will help you begin the process of establishing and defining your financial goals. Once you have all the documentation, we will have another meeting where we will go through all of your material.
After we do our analysis, we will have you come in for the third and final meeting to deliver your Financial Strategy Action Plan and eMoney analysis.
The Financial Strategy Action Plan is an 11 page document that summarizes every area of your financial life. Think of it as a 30,000 view from above, which covers financial topics like cash flow, liability management and even to helping make sure your legacy is secure. What we like most about this document is the word “action”, as we want to ensure that we are both following through on what our planning analysis found.
The eMoney analysis is a quantitative tool that helps us determine the likelihood of accomplishing your financial goals. For example, based on your current savings and investments, it can tell us the possibility of you retiring at a certain age and how much money you can spend throughout retirement. We also like to use the tool in a collaborative way with you, so we instantly see the results of changing your retirement date or income. It can be used to determine if one time large expenditures like helping your child with a down payment for their first home or paying for a wedding will have an impact on their retirement.
Only after clients go through our planning process and we have established their financial goals do we determine how to manage their investments. We don’t lump every client into the same investment portfolio, since every client has different goals. Instead, we help you determine your risk tolerance and time horizon and see if it coincides with our emoney analysis. Then we build a customized portfolio to fit your needs and to help accomplish your financial goals.
Thank you for taking the time to listen to our process and I hope this has given you a glimpse into our practice and if our team is the right “fit” for you and your family. If you are interested, please give us a call or visit our website to book your no-obligation “FIT” meeting.
On video graphic after presentation:
Based on accepted statistical methods, eMoney uses a mathematical process used to implement complex statistical methods that chart the probability of certain financial outcomes at certain times in the future. This charting is accomplished by generating hundreds of possible economic scenarios that could affect the performance of your investments. Using Monte Carlo simulation this report uses up to 1000 scenarios to determine the probability of outcomes resulting from the asset allocation choices and underlying assumptions regarding rates of return and volatility of certain asset classes. Some of these scenarios will assume very favorable financial market returns, consistent with some of the best periods in investing history for investors. Some scenarios will conform to the worst periods in investing history. Most scenarios will fall somewhere in between.
Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC, Member SIPC, a registered broker-dealer and non-bank affiliate of Wells Fargo & Company.
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