Foundation Dialogues. Valued Client. Presented By: Robert Burke Jr.

Transcription

1 Foundation Dialogues Valued Client Presented By: Robert Burke Jr.

2 Setting Expectations for Elaine Milton As your wealth advisor, what do you have the right to expect from me? From your perspective, as one of our clients what do I have the right to expect from you? If we were having this discussion three years from today, what has to happen for you to be happy with our progress?

3 2014 To Do List Personally (ex: what were your New Year s Resolutions?) Professionally (ex: promotion, education, leadership role) What are your three most important values in life right now? If you won a million dollars, tax free, tomorrow what would you do with it? Socially Related (ex: travel, out to eat, time with friends/family) Money Related (ex: save more, better record keeping) What do you enjoy doing the most? What do you enjoy doing the least? If we could only accomplish one of your planning objectives which would you choose?

4 Confidence Quotient The following elements are aspects of your Personal, Potential, Community & Financial life. Rate your current situation on a scale of 1-5, and record your level of content below. I am Not Satisfied Moderately Very Satisfied How often I review and update my financial goals With my ability to meet my financial obligations With the income potential my current job/career provides With the level of employee benefits I receive With how well I understand my employer s benefits With my spending habits With my level of debt With the extras that I am able to provide for myself and my family With the number of vacations I go on each year With the amount of money that I save and invest on a regular basis With my current investment choices That I am on track to build a sufficient nest egg With my plans for children s education With the level and quality of current insurance protection With my distribution plan at death With my style of personal bookkeeping and records management With my level of personal financial education I have attained With how I respond emotionally to my personal finance issues With my ability to communicate about my financial matters Financial issues do not cause stress or strain on important relationships My relationships with my accountant and attorney With my current home auto and liability insurance coverage

5 Investment Portfolio Management Objectives Rank by importance with 1 being least important and 10 being most important. Try to use each number only once. LEAST MOST MAXIMIZING UPSIDE MINIMIZING DOWNSIDE VOLATILITY MAXIMIZING UPSIDE MINIMIZING DOWNSIDE VOLATILITY LIQUIDITY LIQUIDITY GUARANTEES GUARANTEES CONTROL CONTROL TAXES TAXES INFLATION INFLATION COST COST

6 Risk Tolerance Questionnaire Risk Attitude is the risk aversion profile of the investor. Risk Attitude is an attempt to understand an investor's willingness or desire to take on risk. A1) Which of the following best describes your investment objectives? _Conserve Principal Balance of Income & Growth Growth A2) Which scenario do you find most attractive? A3) How would you describe your knowledge of financial markets on a scale of 1-10? Limited Moderate Extensive A4) During the bear market that occurred from late 2007 to the spring of 2009, equities fell approximately 50%. During the worst of this unsettling period, did you Buying opportunity Sell Hold Buy for the long term_ A5) How much financial risk are you willing to take? Little Some Reasonable What is necessary_

7 Retirement Planning At what age would you like to retire or slow down? Will your spouse continue to work after this date? Describe your vision of retirement? Special Plans? (i.e. active lifestyle, travel with Family, charity/volunteering, working part-time, etc.)? What income do you feel you need to comfortably retire or maintain your preretirement living standard? What % of your current living standard is this? What do you see as the main obstacles to meeting your goals? Do you see Social Security as a part of your financial plan? What % of the estimated benefit would you want us include in your cash flow? (100%, 80%, 67%, 50%, 0%) Are you concerned about depleting your assets while in retirement due to longevity or the need for LTC? Discuss. How important is it to preserve your assets? How would you feel if your children received nothing when you died? Is there a minimum you would want them to get? As you look into your financial future, which things concern you the most? Is there anything else we should know about your finances, personal situation, or any unusual circumstances?

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