Keeping you on track
Seidman Wealth: Protect. Prosper. Peace of mind.
This is an intensive process that takes a significant amount of time. At the outset of any potential client relationship, we have multiple conversations, and gain a thorough understanding of where they've been, where they are, what makes them tick, what they envision for their future, and what they want their legacy to be. We believe that prescription without diagnosis is malpractice, so to speak. As well, we consider if we are a good fit for the client — this is a two way street, and a long-term relationship — so there has to be a connection, common philosophy and vision. Once we understand our clients' objectives, we mirror them back in the form of a Discovery Agreement, summarizing our understanding; to make sure we are all on the same page.
Investment Policy Statement (IPS) and Portfolio Construction
In advance of implementation, we construct and agree on the client's IPS. This addresses their specific investment objectives and expectations, and acts as a reference to help evaluate progress and results. The purpose of establishing a written IPS is to provide a structured process with clearly defined investment objectives and strategies. It acts as a roadmap and lays out the "rules of engagement” for our relationship. Once all have agreed, the portfolio is constructed.
Once the portfolio is in place, the actions of all managers are watchfully monitored, ensuring they adhere to their discipline and that there are no fundamental changes in their team or process. Should the need arise, the manager is replaced. Time and again, investment managers tell us our questions and due diligence process are among the toughest they have encountered. This is a point of great pride for us.
Through regular reviews, we consider changes to our clients' personal financial circumstances, the economy and capital markets. This helps ensure their portfolio continues to reflect their long term investment objectives. Outside of regularly scheduled formal reviews, we proactively communicate with our clients and are available at any time to discuss what's on their mind.