Reason 3 of 5 You Need a Financial Plan

Posted by Realize Rev on 11/9/17 1:43 PM

Part of a financial planning series.

If you are just joining us, you may also be interested in the previous post; here is Reason 2

This article, which is Reason 3 in our series, is all about your financial aspirations. How will you know whether you are ahead, behind, or on track to achieve your goals? The third reason you may benefit from a financial plan is:

3. To quantify all your money goals.

Your money goals may include your own retirement lifestyle, a future generation's higher education goals, a second home, a philanthropic legacy, a business succession plan, and perhaps some aspirational goals unique to what we call Your Life's Worth™.

Plotting them all out is an important step. Putting a solid plan in place is vital towards achieving them.

We like to stress test a plan by running several what-if scenarios, taking into account risks such as runaway inflation or poor market returns, to see the overall impact on your success.

financial planning reason 3We believe that clients can enjoy peace of mind when they have a transparent, personalized relationship with an advisor who knows and understands their money goals. We use integrated systems to help standardize processes and create room for personalized experiences.

One of the most valuable ways we use our integrated platform to offer clients peace of mind is rooted in our account aggregation offering. Assembling all of a client's accounts in one dashboard helps us understand and track their investments, even those assets held in accounts not managed by Revolution Partners.

To better understand an individual’s portfolio, we look at the underlying holdings in funds and managed accounts. Uncovering excessive overlap, gaps or conflicts is an important part of discovering how a portfolio is working now, and how it can be adjusted to better manage potential risks.

Ready for more about financial planning?

Click here for our thoughts on financial planning.

We use aggregated account data in a variety of ways that can benefit our clients, for example:

to look for investment correlations across accounts and develop asset allocation plans that address over-weighted areas according to the investor's risk profile,

to save clients on advisory fees, by letting non-managed aggregated funds apply towards fee breakpoints, and

to show clients their whole portfolio in a secure Client Portal and the Revolution Partners Mobile app.

Find out more about the Revolution Partners client experience.

If you are not already subscribed to this blog, please subscribe now to follow along and receive instant post notifications in your email inbox. 

The next post in this series: 
Reason 4 of 5 You Need a Financial Plan

Realize Blog

Subscribe to Realize

Recent Posts