Keep in Touch With Advisors

You’ve met your financial planner to discuss your goals, written up your financial plan and signed on all the dotted lines to transfer your accounts. Congratulations, you have a financial planner. From new babies to a new inheritance, you now have many reasons to contact that professional. Here’s how to stay in contact.

(This is the last of four articles on what you can expect in the process of financial planning.)

Meetings, plans and paperwork only start financial planning. The next and ongoing steps involve establishing the new accounts and building a relationship.

After we finish the accounts paperwork, you receive updates from us on your accounts’ status and the transfer of funds. This takes approximately two weeks. Once we finish the transfer, we trade your holdings to build the portfolio allocation we discussed for each of your accounts. We review the accounts quarterly to ensure the allocations remain close to the target percentages we discussed with you. If needed, we re-balance the accounts.

You receive documentation on the new funds where your accounts are invested and instructions on how to set up your account name and password for the Loring Ward site. There you view the status of your accounts and can see financial information from industry experts. In the case of our firm, you also receive weekly emailed posts from the blog Roots of Wealth. Some of our recent topics cover alternative investments, diversification and variety in a portfolio, entrepreneurship, financial journalism, investment philosophies and smart investments in a housing rebound.

We meet with you at least annually to review and adjust your financial plan and to revisit your life goals. You can also let us know about important family or work issues between meetings: re-allocation, changes in your employment or tax status, insurance needs, pension or retirement fund questions or your plans for major purchases such a home or other real estate.

Sometimes life stuns with news so big we forget to tell professionals who can help. So also contact us after a birth or death in your family; a marriage or divorce; a change in a child’s college plans; changes in your health or medical needs; your filing for Social Security benefits or moving into retirement; changes in your estate plans; or if you inherited money or assets, among many others.

Good financial planners stay in touch with you, too. Many planning firms like ours use social media such as email, LinkedIn, Facebook and Twitter to maintain contact. We find this an inexpensive and fast way to get financial information and news to our clients. On LinkedIn our firm, for example, shows our background and business philosophy, and on Facebook and Twitter our clients share our links and expertise with their friends and followers.

All our tools hinge on communicating. Good planners partner with you to ensure your financial success. As any successful partnership hinges on communication, we can always talk about helping you achieve goals now and for years ahead.

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Maureen Crimmins is the co-founder of Crimmins Wealth Management LLC in Woodcliff Lake, N.J. Her websites are www.CrimminsWM.com and www.RootsofWealth.com.
 
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