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Published byGwendolyn Collins Modified over 6 years ago
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Conducting a Quarterly Portfolio Review MACS 583
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Client Retention LACK OF COMMUNICATION FOUR TIMES PER YEAR
One reason a high net worth individual fires a financial advisor1: LACK OF COMMUNICATION Number of times high net worth individuals expect to meet with their financial advisors2: FOUR TIMES PER YEAR Sources:1 Wall Street Journal: August 13, “Higher Fees Follow Highly Effective Meetings,” horsesmouth.com: June 18, 2001
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The Managed Account Consulting Process
Client Objective Asset Allocation Portfolio Review Financial Advisor Manager Search & Selection
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The Written Agenda Objective Review - Investment Policy Statement
Investment Review - Asset Allocation and Style Diversification Services Review - Adding Value Benefits – Sales Opportunity
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Objective Review Lifestyle – Has anything changed?
Growth - How much is enough? Income - Cash flow needs for preferred lifestyle? Legacy Planning – Distribution? Legal Liability and Tax Efficiency - Preserving earned wealth?
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Investment Review Portfolio Holdings – Need for investment manager teleconference? Performance Data – Appropriate benchmark? Client comprehension? Asset Allocation - Rebalance? Redirect? Manager Selection – Reasons for hiring? Time – Reporting time frame versus client time horizon? Long-term objectives?
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Services Review Ongoing communication
Access to and due diligence of investment managers Consulting and tax management Portfolio construction and review Family wealth management
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Benefits: QR as Sales Opportunity
Develop influence in relationship Gain greater percentage of client’s assets Rebalance with new money Referrals
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Review Advantages Reflects preparation and planning
Demonstrates professionalism Personalizes meeting Provides documentation for review Evaluates rationale behind manager selection
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Benefits of a Quarterly Review
Communication medium Educational platform Retention tool Relationship builder Sales opportunity
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