As 2019 closes and a new year starts with a fair amount of uncertainty, it is a good idea to take stock of your financial situation. While markets have been going strong and the economy seems largely sound, upheaval in both domestic and world politics, an increasingly fragile interaction with the environment, and uncertainty in global trade policies will continue throughout the immediate future. We’d like to ask all of our clients, both individual and as part of an organization—how is your money working for you and do you have a cohesive plan to maintain and grow your wealth?
Unfortunately, far too many would have to “honestly” answer this question with: “I don’t know.”
Understanding how your portfolios are allocated, and why, is vital for establishing a stable future for your money. Too often, the missing information in this equation lies in the relationship you have with your financial professional. We recommend that you don’t wait until after a downward trending quarter to ask questions about where and why your money is invested. Ask now. There is no need to settle for uncertainty.
Transparency, regular reviews, and an open dialogue between client and financial professionals should be a requirement for all, not a perk for only those with the highest value portfolios. Furthermore, depending on your stage of investment and foreseeable needs, a structured plan should be implemented to balance risk and manage projected cash flow requirements for the years ahead.
There are online tools available that help to provide and maintain an active, transparent relationship with your money. At all times, but especially in a turbulent period, a more hands-on approach to portfolio management is recommended. Such tools, running in tandem with a more active and engaged relationship with your financial professional, can convey a steady flow of real-time information around your investments, insurance coverage, and retirement balances—delivering stability in potentially unstable times.
In Sapers & Wallack’s Wealth Management division, we limit the size of our client roster so that every client can benefit from frank communication, tailored planning, and interactive tools to build a better relationship with us, as your advisor, and give you better access to your money. Now is the time to ask questions, search for clarity, and plan for the financial goals and milestones ahead.
We are here to answer your needs and help you design a plan for your financial future.