Here’s how our EnvisionSM consultation works:
Step 1: Data Gathering
The Envision consultation consists of a 30- to 60-minute conversation to assess goals and risk.
- When do you want to retire?
- Are you planning to fund your children’s education?
- Do you plan to travel or buy a second home?
- Do you hope to leave a legacy when you pass away?
Next, we ask about your current assets, liabilities and rate of savings in order to understand how close you are to achieving your goals today.
A critical part of the consultation is our discussion regarding the amount of risk you can accept. There are no guarantees of success and even in a very successful plan, there are usually some periods of market decline when a portfolio may lose value.
There is a direct relationship between risk and return. As a general rule, the more a particular investment is expected to return, the more volatile those returns are likely to be.
To evaluate your risk tolerance we look at both your personal level of comfort with risk and your stage of life. For instance, an 85-year old may be an aggressive risk taker by nature, but asset allocation may be conservative simply because of current income needs.