We begin each relationship with an initial consultation to determine whether PlanFIRST is a good fit for both parties. This helps us get to know your financial needs and goals.
Relationships Make the Difference
We serve our clients with fee-only financial planning services. We are not brokers, so we do not make commissions on any of your investments. Since our fee is in direct relation to the value of your portfolio, this puts us on the same side of the table and allows us to do what we feel is best for you, according to the fiduciary standard and our conscience.
We believe a relationship of mutual trust with our clients is important because we ask clients to give us full discretion over their investments. At the beginning of each relationship, we determine if this kind of mutual trust fits your personality and goals. Because of the time spent managing assets and providing financial planning services for each client, we require a minimum account of $400,000.
We develop a personal profile of each client to describe your financial goals and risk tolerance. Our team of advisors uses this profile to recommend a proactive investment strategy.
Understanding Your Risk Tolerance and Return Objectives
When you begin a client relationship, you will take a risk tolerance assessment that helps us begin to understand how much risk you are willing to take with your investments. We also will create portfolio return objectives by evaluating your spending habits, retirement plans, living expenses, and other factors.
After analyzing your risk tolerance and return objectives, we can determine the investment portfolio that we feel will provide your desired results while maintaining your peace of mind.
Please also note that we will not recommend a portfolio with higher risk (a higher growth component) than we feel you need in order to accomplish your objectives.
Selecting a Portfolio
We have created a family of investment portfolios that help our clients reach their financial goals within the appropriate risk levels. We’ll help you understand and be comfortable with the portfolio we recommend.
Maximizing Returns Within Your Risk Threshold
We develop portfolios using a process that measures returns and risk. Based on your risk tolerance and return objectives, we select a portfolio designed to provide what we feel is the maximum potential return within the appropriate risk tolerance.
Because of our fee-only structure, you can trust us to recommend a portfolio based on your goals, not on commissions we make. You never have to wonder if our recommendations are influenced by other financial incentives. It is our goal to make sure your portfolio is the right balance of risk and return for you.
Monitoring and Management
We carefully monitor each portfolio - and each investment in it - to continue to aim for the highest potential return while mitigating overall risk. When we see the need, we will make a change; and since we don't get paid commissions, you can be confident the change was made in what we feel was your best interest.
Active Portfolio Monitoring
Our investment committee consistently monitors the performance of all portfolios and makes changes when necessary. We are up to date on fund manager changes, and we perform due diligence on investments we make for you.
When we feel a change is needed to maximize your returns or lessen your risk, we will weigh the benefits and costs and may make the change. Having full discretion over your investments means we can act efficiently and make what we feel are the best choices on your behalf.
Plus, we use the process of portfolio rebalancing to capture what we feel is one of the most powerful concepts within investment management. There is a tendency for investments or asset classes that have outperformed to experience a period of underperformance or vice versa. Rebalancing the portfolio helps us buy more of an investment that has underperformed recently (buy lower) and sell a portion of an investment that has outperformed recently (sell higher).
We offer to meet with clients at least annually to review their portfolio and address any concerns or changes in goals, income tax opportunities, and/or estate planning updates. Also, we always encourage clients to contact us anytime they need help making financial planning decisions or whenever life-changes create questions.
Personal Relationships Drive the Process
We develop a personal relationship with our clients to ensure that we continue to help meet their financial goals. Our goal is to meet with each client at least annually to look at past performance, talk through life-changing situations that affect investment strategy, and do our best to make sure everything is aligned to meet their financial goals.
We also invite clients to contact us whenever they face a financial decision or a life-changing situation. We believe that developing personal relationships with clients allows us to consistently provide the best asset management strategies.