The 4-step approach consists in understanding, planning, acting and monitoring in a way that improves your chances of achieving financial successOne of the best ways to reach your financial objectives consists in adopting a tried-and-true methodology, such as our 4-step approach:
Your needs are the foundation of your personalized financial approach. That is why your advisor will first begin by taking the time to know you better by identifying your objectives, priorities, investment horizon and risk tolerance. He will explain to you the best way to go about investing for your situation, making sure you understand the different challenges that lie ahead.
- Provide all relevant documents and pertinent information to your advisor
- Understand how the decisions you make today will influence your life tomorrow
- Ask questions
- Grasp the challenges of investing, such as the risk-reward ratio and the importance of time and patience.
With the information you will have provided, your advisor will perform a detailed analysis of your situation and develop a personalized action plan to help you reach your objectives. He will evaluate the feasibility of your projects over the short, mid and long terms, while factoring in your lifestyle, budget, investments, taxes, insurance, retirement, etc.
Your personalized plan is your roadmap. It allows you to establish your savings and return rates according to your current assets so as to reach the level of wealth you will need at precise moments of your life.
From this plan will come another highly valuable document: your investment objectives. This will allow you to define the criteria that will dictate the composition and management of your portfolio.
- Establish your objectives and define, with your advisor, every parameter that should be considered when making investment and wealth management decisions
- Evaluate the proposed plan with your advisor, making sure that you are comfortable with every aspect it contains.
Now is the time to act on your personalized plan by evaluating the different solutions that can help you meet your needs. Your advisor will discuss several approaches that can enhance the value of your portfolio by tapping into financial markets’ potential.
It is important that you do not neglect any aspect of your situation because your advisor’s recommendations will cover the bulk of your financial wealth.
Your advisor will make sure that you understand and are comfortable with the solutions available to you. You can work together to select the investment instruments that will meet your needs, and integrate them into a structured portfolio.
- Understand and evaluate each solution with your advisor
- Confirm your choices
- Maintain an open line of communication with your advisor and the different experts involved (e.g., notary, lawyer, accountant, tax expert, etc.)
Your advisor will closely monitor the financial markets and economic environment. He in fact possesses a wide array of tools that allow him to evaluate whether you remain on the right path toward your objectives or if you should be making a few adjustments.
As your personal situation evolves over time, it will become increasingly important to assess, with your advisor, the impact of changes in the market on your wealth and to adjust your plan accordingly, by starting the 4-step process over again.
Regularly monitor changes in your situation and communicate them promptly to your advisor so that he can help you adjust your personalized plan
Carefully read all the documents you receive, including your portfolio statement
- Regularly monitor changes in your situation and communicate them promptly to your advisor so that he can help you adjust your personalized plan
- Carefully read all the documents you receive, including your portfolio statement