It’s been a bumpy year in the markets, and that makes it a good time to talk about the importance of sitting down for an annual review with your advisor.
Many firms take a pretty casual approach to client meetings—if they hold them at all. At PWL, we take them seriously because we know they are a milestone in your financial journey.
Of course, we understand clients want to discuss their portfolio returns over the past year, especially when the markets are turbulent as they have been this fall. However, the annual review is about much more than market performance in any given year. It’s a check-up on the progress you’re making toward the goals you’ve set for yourself and your family.
At PWL, we embrace a patient approach to investing because history shows it’s the best way to build your wealth prudently. Markets may be down some years, but what’s really important is to ensure you own a highly diversified, low-cost portfolio that meets your risk requirements. By holding it patiently, you benefit from the returns the markets have to offer over the long-term.
At the same time, life circumstances change and the annual review is an opportunity to look at whether all aspects of your financial plan are 100% on track.
Perhaps, there’s been a major event such as a death, a divorce or career change that affects your goals or creates new needs. Maybe, you’ve been thinking it’s time to do some estate planning, prepare for retirement or set up a registered education savings plan for a child or grandchild.
These kinds of matters, and much more, can be discussed at your review meeting (although we’re here for you anytime). We can then put together an action plan to make sure you’re taking the steps to ensure you and your family are secure and achieving your goals.
While I talk often with clients over the course of the year, I especially enjoy meeting for our annual review. It gives me a chance to check in, find out what’s happening in your life and talk about any bumps along the way. Then, we can make any needed adjustments. It’s a great opportunity to renew our confidence that together we’re on the right path.