As you consider engaging WMA for individual wealth management services, we invite you to get to know us.
Selecting the appropriate firm with which to work is a very important first step in creating your financial plan. You want to select an organization that is competent, ethical, and proactive and one you feel personally comfortable working with for the long term.
We encourage you to spend some time on this website. You will get to know our people and see some of the customized solutions we have created for our clients. You will also see that we seek long-term relationships with the people who hire us. So, a part of this process entails our getting to know one another to ensure that there is an appropriate fit.
Beginning the Process
Calling our office to set up a meeting is the first step. If you are local, that first meeting is in our office; if you are out of town we will have a discussion on the phone or via a web conference.
After that initial conversation, it may make sense to meet with one or more of the firm’s principals. Meanwhile, we will ask you to complete our document package, including our confidential questionnaire to give us the information we will need to assist you. When we agree to embark on a relationship, we then execute a Client Agreement.
At that point, we will arrange a date for an initial planning meeting and encourage your spouse/companion to attend that and all subsequent meetings, if at all possible.
The discovery process is the most important part of financial planning. It allows us to understand you and your goals and maybe even uncover something you did not know about yourself. During the discovery process, we will ask questions, but for the most part we will let you talk about what you would like to accomplish.
Once we have identified your specific goals we begin the process of preparing your financial plan. Each client’s portfolio is designed specifically for them. We don’t jam individuals into model A, B or C. This allows us to customize the level of risk in client portfolios. In our view risk is as important a component of portfolio performance as return. This design process also assists in our efforts to maximize tax efficiency when applicable.
After a financial plan is complete and agreed upon, it is time for the implementation of the recommendations. Quite often this allows for the consolidation of multiple accounts to a single custodian. This simplifies the record keeping process and provides clients more time to pursue their interests. Once the accounts are in place we will make the necessary changes to put the agreed-upon portfolio into action.
Monitor and Review
Since your needs and goals may change, we review and monitor your plan to identify any changes that may be needed to keep you on track. Every holding in a portfolio is under continuous review. The advisors at WMA perform extensive research, listen to conference calls and attend conferences in an effort to better understand the fund managers we employ and the financial markets in general. Each client is assigned two advisors and every client is contacted quarterly with a full portfolio review.