Our goal, of course, is to help people allocate their resources effectively and efficiently. The strategy for someone in their 50s might be quite a bit more conservative than the strategy for someone in their 20s.
If you’re new to investing (or to the world of having a financial advisor in your corner), you might wonder:
- What happens at one of these consultations?
- What do you get at the end of this consultation, and, more importantly,
- How will it help you achieve your financial goals?
Here’s what you can expect if you book one of our free investment consultations!
– The Initial Meeting
When you contact us online, we’ll respond to set up an initial meeting. At that time, your financial adviser will be looking to understand your goals and present situation better.
Every one of us has financial goals. Some people are looking to save enough to retire. Others are looking to save to buy their first home. No matter what your goals are in life, there’s a good chance that they require money. Our financial advisors can learn more about your ambitions and use that information to create a plan to help you achieve your specific goals.
Similarly, everybody has a unique financial situation. Some are business owners, while others have W-2 jobs.
The initial meeting is to learn more about your financial dreams and what you have right now. Having that information will help us develop a plan and advise you with future investments!
– Analysis and Planning
Either during or after the initial meeting (depending on how complex your current situation is), we’ll do some analysis on our end and develop a plan to help you achieve your financial dreams. We take a look at the suitable “buckets” for investing and implement a proprietary strategy to personalize your investments.
At all times, we create portfolios and investment plans that are mindful of the amount of risk you are willing to tolerate. If you want a more conservative portfolio, we can create a portfolio with more bonds and traditional equities. If you’re looking for something a little riskier, we can put some money into higher potential ROI investments.
We have many tools at our disposal during this time. For some clients, the passive investment strategy works the best. Others might be looking for retirement planning to maximize their potential returns in their 401(k). For these individuals, target-date funds might be the way to go. Everyone’s circumstances are different, but we have experience dealing with most situations!
Our goal during this phase is to ensure that the plan we develop for you is in line with your financial objectives and that it has a risk tolerance you can accept.
– Regular Reviews
After the plan, if you want us to manage your money, we’ll have regular reviews to ensure the plan is on track to meet your goals and adjust your portfolio accordingly if necessary.
These regular reviews are essential. People often don’t revisit their portfolio and asset allocations to ensure that they match their current goals. An example of this would be an individual that was 30 and invested in two stocks, a risky stock for $20,000 and a conservative one for $10,000. At that time, this individual didn’t care if they lost the money because they were single and living in an apartment.
Fast-forward 10 years and they’re married with a child. That risky stock ballooned to $100,000, while the conservative one sits at $25,000.
This portfolio has a lot of inherent risk at a time when risk is far less acceptable. In this situation, regular reviews would have caught this risk and gradually transferred money out of the risky stock into one that is more likely to preserve capital.
Get Started Today
Unfortunately, most people don’t begin planning for their future until it’s way too late. Before it gets too difficult to correct, take a few minutes out of your day to contact us!
Whether you want to contact us online, send us an email at adil[at]mandawealth.com, or call us at 713-540-7247, let’s worth together to find an investment plan that works for you!
No matter if you’re saving for college, want to buy a business, or want to grow your retirement savings, our expert financial advisors will help you develop a plan to get there.
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