Wealth Management Process

1. Examine Current Investable Assets   4. Select one of two investment approaches
Assets with other investment firms   Lifetime capital portfolio
Deferred Accounts: 401(k), IRAs, and pensions   Used to support the client's needs during life
    Incorporates tactical asset allocation approach
2. Determine asset allocation of all holdings             Actively managed
Equities   Surplus wealth portfolio
Fixed Income   Used to pass wealth to heirs/charity
Cash   Incorporates strategic asset allocation
Alternative investments   Managed for long term
3. Perform needs analysis   5. Identify other assets (real estate, closely held business, etc.)
Current situation, goals, and family dynamics   Current market value
Risk tolerance   Amount of income produced
Time horizon   Impact on overall asset allocation
Income needs    
Tax considerations   6. Make recommendations and develop action plan
Liquidity needs   Portfolio conversations
Communication preference   Account-specific rules
    Deferred accounts: 401(k)s, IRAs, and pensions