Financial planning is usually not a static process. When your clients ask you for advice in investing their resources, one of the more difficult tasks is getting them to make decisions on not only what their ultimate investing goals are (besides becoming wealthy or wealthier), but just how much risk they want to take along the way.As a client's economic and life conditions change, often their goals do as well. Many successful planning professionals find that periodic re-analysis of each client's holdings is a good idea. By examining how well a client's investment portfolio is performing and what progress is being made towards meeting a client's ultimate and near-term goals, you are best serving your clients, and very possibly generating additional fees for your practice.
The process of deciding the mix of financial products, how and where to invest a client's resources, is closely tied to the client's stated financial goals. The goal may be simple, such as maximizing income or capital. It may also be more rigidly defined, such as accumulating the assets necessary to make a major purchase, such as a house, a boat or a private jet.
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