Initial Consultation
What to expect
Our objective is to get an overall picture of your financial life. We will ask a few basic administrative questions and several questions about specific financial issues such as your income, assets including your home, debts including outstanding mortgages and the total value of any financial holdings such as cash holdings, brokerage accounts, IRA's, workplace retirement assets etc. Most people find these questions fairly easy to answer because the questions have concrete answers.
The most important question, and usually the most difficult for clients to answer is, "What are your financial goals?". Most people are so busy saving and investing that they don't think about what they are trying to accomplish. While there are never any guarantees the only way to accomplish your objectives is to list them as specifically as possible, make reasonable assumptions about savings and investment returns to figure out how long it will take you to accomplish those goals and then take prompt, targeted action.
What to bring
Bring an "inventory" of your holdings including recent statements from any financial institutions where you have significant holdings including banks, brokerage firms and insurance companies. A list of all insurance policies is also beneficial including homeowners/renters, automobile, life, long term care, umbrella and any others. Also make a list of any major assets especially real estate and automobiles as well as the amount of debt if any against these assets. If you own any significant assets in collectibles or other material items (for example a large collection of coins or stamps) these are important components of the overall picture.
What to do
We are advisors, not salespeople who prey on emotions. We will not ask you to make a decision on the spot and in fact encourage you not to make an immediate decision. Please do feel free to ask us for references (please keep in mind that confidentiality laws require us to call the client to ask their permission before disseminating any contact information). However, we do recommend you to make a decision within a few weeks. Experience has taught us that our most successful clients are analytical but decisive!
© Fenway Financial Advisors • 20 Park Plaza • Fourth Floor • Boston MA 02116 • 617-948-2102 • info@fenway-financial.com
