5 Phases of Wealth Management Process

5 Phases of Wealth Management Process

Data Gathering

Analysis

Presentation

The first step of the process is understanding their values, goals and priorities to see if they align with what the wealth managers have available for investments.

In this phase, the gathered data is refined and analyzed. This then allows for a financial plan to be created that takes into account all of the assets and liabilities of your client while still catering to their specific needs in terms of risk tolerance.

Wealth managers must make sure that the client understands every step of their recommendations, especially in this stage where they review what has previously been recommended and have a chance to change any aspect.

Implementation The most important part of the wealth management process is having an active approach on your behalf to help execute recommendations and make sure that clients can achieve their goals.

Ongoing Communication The implementation process is monitored and the financial plan updated to keep up with new market trends..

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