This process is a commitment we make to each client and prospective client.
There are many firms that promise an offering but ours is detailed, in writing, to illustrate our commitment to our clients.
1. Initial Meeting – Speak with the prospective clients about their situation
Usually conducted by Paul or Reg
- Family background
- Risk tolerance
- Net Worth – Assets and Liabilities
- Time horizon
Is there a fit? Can the JMRD Wealth Management Team provide the products and
services that the referral is expecting?
2. Second Meeting – The prospective client is interested in becoming a client
Usually presented by Paul
Present the Owner’s Manual and introduce the JMRD Wealth Management Team, process and services, the benefits we provide and the compensation for all.
3. When a Referral becomes a Client they are assigned a primary and secondary contact
The team gathers all of the required information from the client, including:
- Signed transfer forms
- Account statements
- Tax return information
- Insurance policies
The client also completes our Investor Profile and the Wealth Planning Workbook. The client and team select what account type is suitable for each client. For example, could Baskets, mutual funds or individual security selections all help to achieve your overall investment objectives? Is a fully discretionary account, a traditional transaction-based account or a combination of the two most appropriate? The client and team select a service level agreement. A new client welcome package is sent with all details of account going forward.
4. Team Prepares Full Financial Plan
Matthew is responsible for this plan
The information has been gathered and an Investor Profile is created taking into account the client’s risk tolerance, time horizon and liquidity concerns. In conjunction with the Investor Profile, a Wealth Strategy is formulated. This outlines where the client is currently and where he or she wants to be in the future with respect to their financial objectives.
5. We Meet with the new Client to Discuss the Strategy
Paul or Reg conduct this meeting
Go through the process step by step with the client. Present what they have
now and what they have to do to meet their desired future goal.
6. Quarterly Review
Any Team member may contact you for this step
Once the strategy is in place the client’s accounts are reviewed on a quarterly basis. Not all reviews will result in a performance report and a phone call, but the account will be examined and the appropriate revisions will be suggested if necessary.
7. Annual Meeting
The primary Team contact will do this
At least once a year there will be a face-to-face or phone meeting with the client to discuss the performance of the financial plan and to revisit any material changes that would impact the overall financial plan. If changes have occurred, the proper amendments to the financial plan are made.
8. Family, Friends and Professionals
Once a client experiences our complete process, they often discover that they have contacts that are looking for something similar. We are committed to providing an initial meeting with no obligation.