Practical Tips for Portfolio Rebalancing
Written by Jason Hiley
Written by Jason Hiley
Everyone likes to know what to expect when they enter into a new partnership. When you contact us at Hiley Hunt Wealth Management, our first step is to sit down with you for a discovery meeting. Where are you financially, where do you want to go, and what roadblocks are impeding your progress?
We want to help you reach your financial goals, so we take the time to understand you and your needs in the present, and where you’d like to be in the future. If we all feel like we are the right fit, we move forward to the next step, which is determining your investment tolerance risk and outlining a financial plan for you.
Each year, you can expect to go through the following process with us, as we check in to make sure your investments and goals are aligned.
Everyone’s goals change. Some change more frequently than others. We sit down with our clients at least once per year to identify specific goals you’d like to focus on for the year. Maybe you’d like to buy a new house within the next few years, or you’re planning to change jobs, or you’d like to retire earlier. All of these goals affect your financial plan, so understanding what your goals are will help determine the right investment strategy for you to reach your goals.
How are the investments we selected working? Do we need to make changes? We encourage reviewing your investment portfolio at least once a year to see if your investments are still tracking toward your goals. If we’ve identified new goals or a change in your life that affects your financial goals, we can make those necessary adjustments in your investments. It’s a great time to re-analyze your risk tolerance as well.
Do we need to make changes to your estate plan? What about insurance policies? Is there an opportunity to take advantage of tax strategies? Advanced planning allows you to determine how to distribute your wealth after your death and help your loved ones by having your affairs in order.
While meeting with our clients annually to go through the steps above, we’re always available for questions or issues that may come up in your life throughout the year. We’re here to guide you and create a solid plan for your financial future. If you’re ready for a more personalized and meaningful client experience, we’d love to talk with you.