How the Wealth Management Process Works
I’m Randy Watsek, a Financial Advisor at the Birch Lane Group of Raymond James. This article talks about how the personal wealth management process works. And like everything else in life, it’s different for every person.
If you were to imagine working with me on financial planning and investment management, this is how I could help you achieve your goals with confidence.
Many people find themselves struggling to navigate the complexities of their financial lives, uncertain how to balance their short-term needs with their long-term aspirations. A one-size-fits-all approach just doesn’t work.
And that’s where I come in. As your personal financial advisor I combine comprehensive financial planning with customized investment strategies to address your unique circumstances, risks, and goals. My goal is to create order and stability out of all the moving parts so that you can feel that you are on a reliable path.
The Financial Planning Process
- Discovery
The financial planning process starts with discovery. As we begin our financial planning journey together we engage more and more in deep conversations to uncover your aspirations and concerns. We collect critical information on your life, personal circumstances, goals, risks, obligations, and resources. The deeper and more thorough our discussion the more robust and useful the plan becomes.
- Craft a Personal Financial Plan
Using this information, we craft a personal financial plan tailored to your specific needs. We’ll review and refine the plan together, ensuring that it’s both realistic and achievable. Working with me through this process can bring reassurance, and this clarity enables you to grow trust in the steps to your own financial progress.
- Adapt to Changes in Your Life
But your journey doesn’t end there. Through the years we will speak regularly to review and adjust your plan. As we talk in greater depth and adapt to the changes in your life, your plan will become more and more robust to help you feel secure in your financial future.
Your Personal Investment Strategy
After finalizing your plan, we will develop an investment strategy … designed to address your unique financial goals. Your success is too important for a cookie cutter solution.
Working together, we develop the strategies we believe will be the most useful to your personal circumstances. And usually this involves more than one balanced and diversified strategy to support each of your important needs.
What sets me apart from other advisors is my commitment to personal investment management and research. The vast majority of advisors outsource research to fund managers or their firm’s cookie cutter options. Instead, I personally research each position in order to develop the confidence that it is right for you.
The importance of doing my own research was driven home by the experience of past financial crises.
During the Dot.com boom of the late 1990s many Wall Street firms recommended stocks that turned out to be worthless, and advisors recommended these stocks to their clients, just because their firms recommended them.
Likewise, during the Great Financial Crisis of 2007 to 2009, many products recommended by the major Wall Street firms suffered major losses.
I never want my clients to be in that position, so I personally research all the positions in my strategies and review them monthly. This commitment to research develops the trust, for me, that all the strategies I recommend are the right ones … for my clients, in line with their risk tolerance, time horizon, and future goals.
My client-centric approach focuses on building a long-term relationship and delivering exceptional service. I’m dedicated to helping you achieve financial success and confidence, knowing that your plans are realistic and achievable.
This helps give you the reassurance of knowing that you are on the right path.
Are you ready to take control of your financial future? I typically work with clients who have $1 million or more in investable assets but am happy to talk with anyone who I may be able to help with their journey.
To schedule a free consultation, suggest topics for future videos, or leave feedback for this video, please schedule a time in the calendar below or contact me at Randall.Watsek@RaymondJames.com.
RANDALL F. WATSEK III, CFA®, CFP®
Financial Advisor
Raymond James Branch 3DG
T 914.689.3615 // F 844.275.4520 // Website
341 Route 202 Suite 1A, Somers, NY 10589
Any opinions are those of Randall Watsek and not necessarily those of Raymond James. Expressions of opinion are as of this date and are subject to change without notice. There is no guarantee that these statements, opinions or forecasts provided herein will prove to be correct. Investing involves risk and you may incur a profit or loss regardless of strategy selected. Individual investor's results will vary. Past performance does not guarantee future results. Future investment performance cannot be guaranteed, investment yields will fluctuate with market conditions.