1. Risk Profile
One of the most important conversations you will have with us!
Through our conversations, we will draw out and balance your desire and need for investment returns with your willingness to accept downside risk to develop a personal asset allocation that suits YOU.
The asset allocation tool is designed to get you through both up and down markets, the latter being of great focus to us.
2. Portfolio Audit
The next step is to compare your Risk Profile to your current holdings to identify any concerns.
Your portfolio could be more aggressive than you anticipated and could lead to uncomfortable losses in down markets. Also, your portfolio could be more conservative than you prefer and may need to be adjusted to reflect your Risk Profile.
3. Portfolio Design
Your portfolio is designed to meet your Risk Profile. We take the time to explain the steps necessary to make these changes and the reasoning behind each change.
4. Retirement/Income Plan
Whether you are in or approaching retirement, Beaches Financial Team will build a roadmap using our unique process to get you to your dreams. We will incorporate Government Pensions, workplace pensions, personal savings as well as the potential sale of investment properties or businesses and inheritances.
5. Age-Appropriate Risk Management Review
The greatest threat to depleting our wealth is not return on investment, inflation or overspending. These are variables that we have some control over. The greatest threat to eroding wealth is our health and the risks faced by a 30 year old differ significantly than those faced by a 60 year old.
Our objectives in this step are:
1. To communicate any risks we see to your retirement plan.
2. To learn about insurance coverage you have in place and to make sure you understand it.
3. To identify solutions we feel could protect your retirement.
6. Estate/Tax Planning Review
Estate planning is something frequently overlooked but is extremely important. We have lived the rest of your financial life through the lives of our clients and want to make sure your wishes are clearly articulated.
Who do you want your hard earned money to go to? Who do you want to have control? How do you want your legacy dispersed? These questions are important to think about and will form the basis for this review.
If needed, we may bring other professionals such as lawyers and tax specialists to make sure your wishes are followed, your estate is structured efficiently and taxes are minimized.