Develop Financial Goals

Virtue Asset Management plays a crucial role in helping clients develop financial goals by guiding them through a comprehensive financial planning process. This process involves understanding the client’s current financial situation, identifying their future objectives, and creating a roadmap to achieve those goals. 

Develop Financial Goals

By guiding clients through these steps, our CERTIFIED FINANCIAL PLANNER™ professionals empower clients to develop clear financial goals, make informed investment decisions, and work towards achieving their desired financial future.

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Initial Consultation

The process begins with an initial consultation, where the portfolio manager gets to know the client, their financial background, investment experience, risk tolerance, and long-term aspirations. This meeting helps establish a foundation for the financial planning process.

Assessing Current Financial Situation

The portfolio manager conducts a thorough review of the client’s current financial situation. This includes evaluating income, expenses, assets, liabilities, insurance coverage, tax situation, and any existing investment portfolios.

Clarifying Financial Goals

The portfolio manager works with the client to define their financial goals and objectives. These goals could include retirement planning, buying a house, funding children’s education, selling a business, or any other specific financial milestones.

Establishing Time Horizon

Financial goals are often categorized based on their time horizon, which can be short-term (1-3 years), medium-term (3-5 years), or long-term (5 years or more). The time horizon influences the investment strategy and risk tolerance required to achieve each goal.

Creating an Investment Plan

Based on the client’s financial goals, time horizon, and risk tolerance, the portfolio manager formulates an investment plan. The plan outlines the recommended asset allocation, diversification strategy, and specific investment products tailored to achieve each goal.

Investment Policy Statement (IPS)

At Virtue Asset Management, the portfolio manager and client create an Investment Policy Statement (IPS), which formalizes the client’s financial objectives, risk tolerance, and guidelines for managing the portfolio. The IPS serves as a roadmap for making investment decisions and acts as a reference point during market fluctuations.

Regular Reviews and Adjustments:

Financial goals and circumstances may change over time, so portfolio managers conduct regular reviews with their clients to ensure their investment plan remains aligned with their objectives. Adjustments to the portfolio may be made based on changing market conditions or life events.

Collaboration with Other Professionals:

In complex financial situations, portfolio managers may collaborate with other professionals, such as tax advisors, estate planners, or insurance specialists, to ensure a comprehensive and coordinated approach to financial planning.

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