Process of Becoming a Client
- We want to understand your current circumstances, goals, desires and past experiences:
Time is a precious commodity and we don't want to waste your time. We will schedule a meeting at your convenience either by Zoom or face to face (and if married, we would request that ideally, both parties are involved). During our initial time together, we will ask a lot of questions as well as answer any of the questions that you may have. It is vitally important that we have a sound understanding of what you are looking for, where you are trying to go and what challenges you are facing now (and those from the past). Equally important is that you understand what our team is all about and what we are able to provide to you.
If you decide that you would like to have a working relationship with us and engage our services, we will ask you to provide some information, electronically, that will allow us to better understand who you are, your risk tolerance(s), goals and financial vision (as it stands, and even if it’s disorganized at this point!). Additionally, we will request that you provide copies of investment statements, wills, life insurance details and existing financial plans.
- Development of an Investment Policy Statement and New Accounts:
Upon reviewing all of the information from our meeting, along with the additional documents provided thereafter, we help to establish a set of objectives and risk framework for your new accounts. These objectives will carefully include: income requirements, return expectations, risk preferences, liquidity needs, time horizon and potential tax liabilities. We will then put together the paperwork necessary to establish new accounts at Raymond James to house all of your investments. Most documents can be easily signed electronically using DocuSign. As a general rule, we encourage all new clients to transfer existing assets to our care “in-kind”, which means that they are transferred “as-is”, which will allow us to then carefully begin the process of rebalancing your account in an appropriate, timely and prudent manner.
- Embark on the financial planning and strategy process:
The next major step is to embark on the financial planning process, which will help to clarify, understand and put in place a financial strategy for your family that considers your wants, desires and financial means. We may seek further documentation and/or input from your other trusted professionals like accountant and/or lawyer. We have found that many people aren’t even aware of the kinds of considerations and/or inefficiencies that may exist in their financial strategy, and we want to assume our role to help you organize and further integrate all aspects into a cohesive and integrated plan. We can, and may, also engage in-house experts on tax planning, estate planning and/or cross-border issues, as appropriate and as pertinent to your situation. If we don’t have answers, we know who will, and will not stop until we address you questions and concerns.
