For some, clear investment management is enough to give focus to their finances. Most of us, however, need more for a satisfying financial lifestyle. So, at RightPath, you work with a key advisor through ProsperityPlan™: a process through which you and your RightPath advisor define your vision of wealth, how your money will fund that vision, what steps will help you to realize it, and what changes you may need to prepare for, such as job changes or disability
- If you are just starting financial planning, begin with this phase. Define what is important to you about money and establish some goals. If you are already engaged in financial planning, periodically return to this phase to see what’s changed.
- With your feelings, priorities, and goals in mind, collect the information you need to address these areas: current planning status, personal style and risk tolerance, expenses and income, assets and liabilities, tax projections, risk exposures/insurance needs.
- Create realistic priorities and scenarios within the context of economic limitations, opportunities, and experience. Assessment of each goal and its competitors, time to fund it, costs, and required return will influence your priorities. We will use sophisticated planning software and common sense to develop your plan.
- Pick the best and most likely scenarios from your analysis. Establish timelines and milestones, giving you a map showing how to get from where you are to where you want to be. Mark both the opportunities and the pitfalls for each scenario. Prepare for the up-and-downs of investing.
- Establish and implement a clear, written investment policy statement (IPS) that identifies the appropriate asset allocation and money managers for your investments. Implement estate planning and wealth management choices. Your personalized plan will help you decide what to do and when.
- Are you sticking to your plan? Is it leading where you want to go? Regularly ask and evaluate the answers? We help monitor and manage the entire process, including periodic reports, rebalancing and money manager performance. We mark changes in your risk/return profile, family, assets, or estate, updates in tax law and more. Monitoring organically leads you back to a review of your financial personality and goals.
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Wealth Management: Our Approach to Financial Success
Because we serve as your financial confidante, you’ll find that we can readily coordinate the required tasks into your investment management and financial planning. That gives you the clearest picture of your financial lifestyle and needs. And, we build plans suited to your needs: investors with one or two specific goals—perhaps saving for a child’s education or buying or selling a business—will have simpler plans than those with more complex goals, such as creating a holistic finanical lifestyle or long-term planning for a foundation.
The Right Expertise
We provide many wealth management services directly; however, we want you to receive the benefit of specialized expertise. Therefore, we facilitate the integration of services provided by qualified outside resources into a seamless package customized to your needs. By assuming general oversight of these services—through activities like meetings, document review, and client advocacy—we ensure that the philosophy, approach, and quality of all services is consistent, well-coordinated and focused on fulfilling your needs. And, because you are welcome to call your advisor with any question you think affects your financial lifestyle, you’ve got a true sounding board whenever you need one.
