Most often from the comfort of his clients’ living rooms, Mark begins working with each client by telling them about himself—his life, his experiences, and why he is passionate about financial planning. He carefully explains the firm’s fees and philosophy, and helps the client determine his or her optimal investment and risk management strategies according to risk tolerance, time horizon, goals, and objectives. He also discusses the importance of trust and communication, and the vital role of personality in a functional working relationship—that to be successful, both parties (Mark and the potential client) must have an interest in working together.
Creating the foundation
Through inquiry and careful listening, Mark takes the time to learn about each potential client. He does this in a session that includes a discussion about past experiences with investing and working with advisors, the source of the referral, current strategy, and perceived effectiveness of that strategy. Investment risk, time horizon, and current goals and expectations are explored, as well as risk management and the current approach to asset protection and earning potential. Mark also explains his process in detail and completes a brief financial assessment.
Moving forward on the same team
Once a decision has been made to move forward together and the decision-making process is complete, Mark sets up the client’s strategy and takes on the task of managing any assets and/or products that are serviced by the firm. He meets with the client on a regular basis—quarterly, semiannually, or annually—to share a holistic review and assess any changes financially and/or objectively so the strategy may be adjusted as needed.