- Understand your needs and expectations – time horizon for distributions, income needs, growth objective, tax situation, experience with market fluctuations, etc.
- Develop a written, personal Investment Policy Statement (IPS).
- Portfolio construction, investment selection, and execution of trades.
- Periodic reporting.
- Re-balance portfolio on an opportunistic basis and when appropriate to meet your needs.
- Monitor portfolio allocation and underlying investments.
- Re-allocate portfolio due to changes in the economy, your objectives, or performance of the mutual fund manager selected.
- Tax loss harvesting (where applicable).
Specific client financial plans and their implementation are dependent upon the client’s Investment Policy Statement which outlines each client’s current situation (liquidity needs/tax constraints, if applicable, risk tolerance and capacity). It is used to construct a client specific investment plan to aid in the construction of a portfolio that matches restrictions, needs, and goals.