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Forget Investment Management, It’s All About Planning

Jason and Alex tackle two of the most important questions that an investor can ask themselves. 1) Which is more important, financial planning or investment management? And 2) What kind of experience should you be getting from a financial adviser on each? Jason and Alex share why they place such a strong emphasis on beginning every client relationship with financial planning and continually monitor the plan throughout the entire lifetime of their clients. Investment Management is a critical component of a good, comprehensive financial plan, but it’s not the only component. By building a plan that encompasses all of your assets, liabilities, income, expenses, taxes and inflation you can best determine the investment strategy that makes sense for your situation. This strategy should take the least amount of risk and volatility necessary for you to accomplish your lifetime financial goals. Just as life changes, so does your financial plan. The continual process of updating your plan and your investment strategy is critical. Your plan should have montecarlo capabilities that stress test the success rate across your entire lifetime taking into account as much historical data regarding volatility available. Another part of ensuring that you are making the best financial decisions is by using your financial plan to model what if scenarios, particularly around major life events such as buying or selling a home, retiring, or selling a business.

Alex shares a recent story of a high net worth client who engaged the IDA team for a financial plan only relationship with the expectation that IDA would never manage the client’s assets. Proceeding along these clear guidelines Alex and his team built the plan and delivered the recommendations across all components of the client’s financial lives. The client saw the sophisticated nature of IDA’s investment management, the value and comprehensive nature of the relationship and decided to turn over a portion of their assets to manage. Jason and Alex encourage any listener to the show to take the same approach. There is no need to assume and all or nothing approach, IDA would rather build you a complete financial plan at a competitive cost to demonstrate what the client experience is like and deliver on holistic recommendations than the alternative – do nothing at all. Too many investors are fearful or apprehensive to start this conversation and need not be.

In this show you will learn about:

  • The importance of having a good financial plan
  • What constitutes a good financial plan
  • How to determine the proper investment strategy
  • How to maintain and test a financial plan
  • How a planning only relationship might be the right thing for you


    Transcript Available Here


    The content of this radio show is provided for informational purposes only and should not be considered investment advice or a recommendation to buy or sell any types of securities. Mr. Labrum and Intelligence Driven Advisers/Financial Detox are not responsible for the consequences of any decisions or actions taken as a result of information provided in this radio show and do not warrant or guarantee the accuracy or completeness of the information provided. The information discussed today reflects the views of Mr. Labrum and his guest(s) as of the date of this show and are subject to change without notice.Past performance is no guarantee of future results. Any forward looking statements or forecasts are based on assumptions and actual results may vary from any such statements or forecasts. No reliance should be placed on any statements or forecasts when making any investment decision. Accordingly, listeners should not rely solely on the information provided today in making any investment decision.There is a risk of loss from investing in securities, including the risk of loss of principal. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment will be profitable or suitable for a particular investor’s financial situation or risk tolerance. Asset allocation and portfolio diversification cannot assure or guarantee better performance and cannot eliminate the risk of investment losses.