It is most often the case that financial advisors feel that they "just need a tune up". What we've discovered over many years in this industry is that when it comes to Client Management, they are exactly right: they have a highly-developed roadmap of which services they do and don't provide, characteristics of their ideal clients, clearly defined roles about how Relationship Management is structured, and who is responsible for which role.

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But when it comes to Wealth Management, specifically Investment Management (yes, they are different), it is very common to find the opposite is true. Most advisors lack a cogent investment philosophy. Many do not know what they own and why. Few know how their funds are structured and where their un-advertised risks lie. They are usually over-/under-weighted in key regions, sectors or styles compared to their benchmarks. They tend to have tens to hundreds of fragmented stock, bond, annuity, CD and fund positions not currently in their investment lineup. They often do not have a process for, nor are they running, risk-based portfolios. They flip-flop on whether they should benchmark against nominal indexes, or whether risk-adjusted performance should be their goal. They tend to lack consistent security analysis and review. And on and on. 

 

So while advisors justifiably concentrate on client acquisition, guidance, relationship, communication, and retention, we find that most acknowledge another key piece is missing. Many advisors feel they are being unfaithful to clients when it comes to their unspoken vow of expert investment management, and are not sure how to get there.

 

(Armchair psychiatrist note: this is often why advisors feel guilty about charging appropriate fees). 

 

During this step of the process, we'll lay out what could be called a Play of Your Practice in Three Acts: where you've come from, where you are now, and where you want to go. Then we'll put together a detailed plan on how we're going to get you there.