FFR’s Guide to 5 Important Topics Your Wealth Management Financial Advisor Should Cover in Client Annual Portfolio Reviews

Financial Goal Review:
During annual meetings, it's crucial for your wealth management financial advisor to revisit and reassess your financial goals. This includes discussing any changes in your personal or professional life that might impact your objectives. Whether it's saving for a home, funding education, or planning for retirement, a comprehensive review helps ensure that your investment strategy aligns with your evolving needs.

Portfolio Performance Analysis:
An in-depth analysis of your investment portfolio is essential to gauge its performance over the past year. Your financial advisor should provide insights into how individual assets performed, discuss market trends, and evaluate the overall health of your investment strategy. Transparency regarding gains and losses enables you to make informed decisions and adjust your portfolio as needed.

Risk Tolerance and Asset Allocation*:
Risk tolerance can change over time, influenced by various factors such as market conditions, economic shifts, or personal circumstances. Your wealth management financial advisor should reassess your risk tolerance and, if necessary, recommend adjustments to your asset allocation. This ensures that your investments remain aligned with your comfort level, preventing undue stress during market fluctuations.

Tax Planning and Optimization:
Effective tax planning is a key element of wealth management. Your financial advisor should discuss any changes in tax laws or regulations that might affect your financial situation. Additionally, they should explore strategies to optimize your tax position, such as harvesting losses, taking advantage of tax-efficient investment options, and exploring opportunities for deductions or credits.

Estate Planning Updates:
Life changes, and so should your estate plan. Annual meetings are an opportune time to review and potentially act to update your estate planning documents with your attorney, to ensure they reflect your current wishes and circumstances. This includes revisiting beneficiary designations, updating wills and trusts, and discussing any changes in family dynamics that might impact your estate planning strategy.

In conclusion, a comprehensive annual meeting with your wealth management financial advisor should cover financial goals, portfolio performance, risk tolerance, tax planning, and estate planning strategies. This holistic approach is designed to ensure that your financial plan remains dynamic and responsive to your evolving needs and the ever-changing economic landscape.

* Asset Allocation, which is a method of diversification that positions assets among major investment categories, does not guarantee a profit or protection against a loss.
Equitable Advisors, its affiliates and financial professionals do not provide tax or legal advice or services. You should contact your personal tax and/or legal advisors before taking action.

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