What should you expect as a client of 79 financial? It's amazing how many investors enter relationships with advisors without learning what to expect in terms of client service. The result can be disappointment or apathy toward their experience as they just accept the lack of attention as the standard of service so many have come to expect.
At some point you'll have to decide if you want to move forward and work with 79 Financial. We hope that you do!
To that end, we strive to provide enough information for potential clients to have a basic understanding of how we work with people. At some pint, an Introductory Call is initiated for you to let us know what you're interested in. Further meetings may be required as we prepare a proposal that solves the reason you're contacting us. From there, we hope to see you as a client soon!
Not a whole lot of fun, but necessary if we're going to work together. Once you decide to work with us, we'll have some administrative work to do as far as opening or transferring accounts, assigning authority, and signing agreements.
The complexity of your financial picture, number of accounts, structure, and custodial relationships all contribute to the pain, or ease, that this important step causes. Don't worry, we'll do as much of it as we can for you but you will have some responsibilities.
79 Financial uses a behaviorial finance approach to help with properly evaluating a client’s tolerance and capacity for risk. A better understanding of how clients relate to money is the foundation for setting an asset allocation that achieves long-term goals at a risk level that allows investors to sleep at night. We'll ask you to periodically take an assessment to help us best tailor our advice to you.
Based on the results of your assessments, and goals of the financial plan, we'll tailor your asset allocation to best meet your future goals at a risk-level that is appropriate for you. 79 Financial will then execute your portfolio's transition to its new allocation in a tax-efficient manner. This transition may occur over several years.
Planning is a broad category that encompasses everything from a basic allocation plan with future projections to a full-scale financial plan. 79 Financial takes its cues from our clients as to the complexity of their plan. Regardless, we will always encourage our clients to do more planning! Planning is an ongoing process that we'll work on throughout our relationship.
Clients have online access to their plan so they can review and continue to provide information for a more complete picture.
One of the tenets of Modern Portfolio Theory calls for low fees and minimalized taxes. Blowing out of a portfolio and into another can result in missing those objectives. Therefore, portfolios are evaluated using your existing holdings from an allocation standpoint. Over time, we will work out of specific holdings and into the best cost-effective holdings for your situation. This process can take several years and requires coordination between the client and the advisor.
Confidence is hard to obtain if you're in the dark about what's going on. 79 Financial wants to ensure it properly communicates with its clients. To that end, clients will receive periodic emails and other educational, or on-topic, information in addition to our quarterly reporting.
We'll be sure to communicate any actions needed in your accounts along with any areas of opportunity or concern that may be revealed.
View the Client Service Calendar for an overview of what to expect and when.
Reporting delivers reviews on various elements of the client's relationship. 79 Financial prepares client reports that support our philosophy and process. Such reports include performance, risk, asset allocation, plan projections, managed accounts, annuity/insurance reviews, charitable giving, and more.
For those with separately managed accounts, we conduct manager due diligence and keep you informed of any developments that may impact the manager's ability to successfully manage the account.
*According to Investopedia, the Efficient Frontier is the set of optimal investments that offer the highest expected return for a defined level of risk or the lowest risk for a given level of expected return.