It's portfolio review time once again! In this post, I will share how I am approaching this task.
Step One: Determine the Frequency
The first step is to create a frequency for each client review. For example, some may want to do this quarterly and others only twice a year. I have observed that a client's wealth does not necessarily determine the frequency. At times, a larger client may only wish to review semi-annually while a smaller client prefers quarterly. Therefore, I have a conversation with each client to establish their desired review frequency. Once that was completed, I had to create a system to track it.
Step Two: Track It!
I create a custom field in ACT where I can check one of the following boxes: Q1, Q2, Q3, and Q4. Moreover, depending on the client and where they live, I can also check: In Person, Online, and/or Email. After this is complete, the next step is to create the information you plan to discuss at each review.
Step Three: Determine What Information Is Needed
Some items are common to all clients and others are unique. For example, I use "FRED," an add-in for Excel from the Federal Reserve Bank of St. Louis. It contains a plethora of data, mostly from the U.S., but also from other countries. Using this tool, I created a global macroeconomic PowerPoint slideshow which I will show to each client. With this, I can explain how I view the world, which explains why we're positioned as we are.
The next item I create is a snapshot of each client's portfolio using a tool from Morningstar. I will also include a Holdings Report with details on each of the client's holdings.
