Our Wealth Management Process
Our Wealth Management Process
At Premier Wealth Advisors, we use a consultative process to help our clients address each of their five key concerns: making smart decisions about their money, mitigating their taxes, taking care of their heirs, making sure their assets are not unjustly taken, and magnifying their charitable gifts. We work with a network of professional advisors to help our clients maximize the probability of achieving everything that is most important to them.
The Discovery Meeting
We know that when we meet you for the first time, you may feel anticipation and apprehension. During the Discovery Meeting, our primary goal is to get to know each other. At Premier Wealth Advisors, it has never been our goal to be all things to all people, but rather, to be all things to a few people. We limit our practice to successful business owners and professionals for whom we can make a significant impact because it is only by carefully selecting our clients that we are able to provide the level of personalized service that we do.
For this reason, before we take on any new clients, we are careful to gather enough information to ensure that they pass four key tests:
The Chemistry Test: Do we have the chemistry to work together in the long term?
The Goal Test: Are your goals achievable?
The Net Worth Test: We specialize in working with high net-worth clients.
The Value Test: If we can't add value to what you're currently doing, there's no reason to make a change.
In short, the Discovery Meeting is meant to gain a deep understanding of what matters most to you as well as the challenges you face in accomplishing your most important goals. This information will help us determine if we're the right firm to assist you in making even smarter decisions about your money. If we are, it will also help us to create a wealth management plan for you.
The Investment Plan Meeting
During the Investment Plan Meeting, we will present you with the first two parts of the wealth management plan:
The investment plan: A summary of our proposed long-term investment consulting work, including our investment recommendations, an overview of our wealth management process, and information about our fees.
An investment policy statement (IPS): A detailed description of our investing approach and strategic portfolio management process. The IPS also includes summaries of the returns of key indexes and a range of hypothetical portfolios.
The goal of this meeting is to provide you with an actionable investment plan that will maximize the probability of achieving your investment goals and a clear IPS that spells out our investment approach.
Of course, investments are only the foundation of the entire financial picture. Once you become our client, we will take your case to our network of professionals so that we can identify those areas beyond investments in which we can have the most impact in solving your financial challenges.
If we mutually agree that there is a basis for moving forward together after you have reviewed the plan, we will schedule the Mutual Commitment Meeting.
The Mutual Commitment Meeting
It is during this meeting that we will make the mutual commitment to work together and execute all the agreements needed to begin to do so. This commitment is an important step toward securing your financial future and achieving all that is important to you.
As is the case with all of our meetings, you will also have the chance to ask any questions or discuss any of your concerns about the plan with our experts before executing the required account documents.
The 45-Day Follow-Up Meeting
Because of the amount of paperwork generated when money is transferred and multiple accounts are involved, it is natural to feel overwhelmed in the weeks following the implementation of the investment plan. During the 45-Day Follow-Up Meeting, we will help you completely understand and organize all of the financial paperwork with a system set up to keep it organized moving forward. This system will help you keep a clearer picture of your finances and help you continue to make informed decisions.
At this time, if there have been any personal, professional, or financial changes in your life since our last meeting, we can make adjustments to the wealth management plan accordingly.
Additionally, while you will be able to see short-term progress as a result of the investment plan in action over the last 45 days, what is truly important is not investment performance over any isolated period, but achieving your goals over your lifetime. In the short term, no one can know with any accuracy which way the market will move. However, in the long term, by making prudent decisions, we can maximize the probability of your success.
The Regular Progress Meetings
During our Regular Progress Meetings, we will discuss any changes in your life that may call for adjustments to the wealth management plan and review your progress to ensure that you are on track to achieving key goals.
At the first Regular Progress Meetings, you will be presented with the advanced plan, the third part of your overall wealth management plan, along with the investment plan and investment policy statement. This plan contains our recommendations for addressing your financial concerns in four major areas:
Wealth Enhancement aims to mitigate tax impact while producing the best possible investment returns.
Wealth Transfer helps find and facilitate the most tax-efficient way to pass assets to succeeding generations in a way that meets your wishes.
Wealth Protection aims to protect your wealth against potential creditors, litigants, children's spouses and potential ex-spouses, as well as protect you against catastrophic loss.
Charitable Giving helps fulfill your charitable goals and can often support efforts in each of the other three areas.
None of these areas stands in isolation from the rest. The major advantage of the wealth management plan is that it enables us to deal with each area systematically while maintaining an integrated approach to your overall financial picture. The complete wealth management plan will also serve as the roadmap for addressing your wealth management goals as we move forward.
During subsequent Regular Progress Meetings, we will review your progress toward achieving your financial goals and discuss possible changes to the plan, depending on whether or not you are on track to achieving all of your most important objectives.
Ready to Schedule Your
Complimentary Discovery Meeting?
Take the first step toward securing your brighter financial future by scheduling a free Discovery Meeting with one of our expert advisors today.