Wealth Management Process

Wealth Management is a process - not a product or a one-time event. The Wealth Management Process provides a long-term strategy for your financial future. There are 8 Key Wealth Management Issues that clients are likely to face at some point. When these issues will become priorities is not the same for every client, so it is incumbent upon a Wealth Management Advisor to take a disciplined and structured approach to helping a client to manage these issues. The Wealth Management Process includes the following phases: Discovery and Data Gathering At the beginning of the process, it is important to sit down and discuss each client's unique values, priorities and goals. Barbara works with clients to omplete the "Organizing Your Financial Future" questionnaire booklet and helps them to define their personal and financial goals, understand their timeframe for results, and their comfort with risk. Analysis Once the Discovery and Data Gathering is complete, the results are reviewed and a Plan is designed to meet the individual client's goals and objectives. This step of the process includes such areas as analyzing assets, liabilities, cash flow, risk management, current investments and strategies related to tax issues. Presentation All recommendations are presented to the client for review and approval. These recommendations address each client's individual goals and objectives. Extra care is taken to be sure that each client thoroughly understands the recommendations and alternatives so they can make informed decisions. Implementation Implementation is key to what makes the Wealth Management Process work. At this point, a proactive approach is taken to help clients meet their financial and life goals. During this step of the process, the implementation of the Plan finalized during the Presentation is thoroughly discussed. Ongoing Communication The results of the implemented Wealth Management Plan are continually assessed to ensure each client's objectives are being met and Barbara is always available to update a Wealth Management Plan to suit a client's changing personal needs. A personal communication plan is tailored for each client that includes a schedule of review meetings, ongoing education and client events. A high level of access and communication is a Barbara Larson CPA service mark.

Client segmentation 1. Define client value. Identify the drivers of profitability, or value, in your client relationships. 2. Quantify client value. Create a rating system to gauge each client on each driver of value. 3. Test your rating system. Rate a subset of clients, in order to test the suitability of your rating model. 4. Rate clients. Rate each client, on each driver of value, and then sum those ratings to generate a composite 'value rating'. 5. Define segments. Create scoring ranges that link your composite scores to a segment (e.g. a rating of 35-40 may be a platinum client) 6. Track segmentation data. Enter each client's segment in your contact management system. 7. Define update processes. Create processes to update client segment ratings and to rate new clients