THE SOLOFF WEALTH MANAGEMENT PROCESS
We begin every new relationship with our four-step process.
STEP 1: FACE-TO-FACE MEETING, GATHER INFORMATION AND DATA
Before we get down to crunching numbers, Adam sits down with you face to face, or via teleconference. He wants to learn about the things that are most important to you, like your family, community, activities and personal values. He asks a lot of questions about what you are really thinking, feeling and even worrying about. He also wants to hear about your experiences with money, what you’ve accomplished so far and where you’re looking to go. Additionally, he gathers quantitative data regarding your current financial situation. Together, you figure out where you are now and where you want to be in the future. Don’t worry, you won’t be put on the spot. You’ll be mailed a letter in advance of this meeting to get you thinking about all of these topics.
STEP 2: BEHIND THE SCENES, RESEARCH AND FORMULATE PLAN
Following the initial meeting/teleconference, Adam works in conjunction with his team of staff and specialists (accountants, attorneys, and insurance brokers) to formulate recommendations aimed at improving your current plan or initiate a new one. At Soloff Wealth Management, we believe there is no “one-size-fits-all” strategy. Your unique circumstances and personal goals dictate your financial plan and how you will execute it. As an independent firm, we have the flexibility to offer you the strategies best suited to work toward addressing your financial objectives.
We place a high value on maintaining the confidentiality of the information that we gathered from you in Step 1. Therefore, we keep it on a secure, encrypted website that consolidates all aspects of your financial plan. The system we use is called WealthVision.
STEP 3: MEETING/TELECONFERENCE, EXPLAIN RECOMMENDATIONS
In this second meeting, Adam will discuss the details and rationale for your financial plan. At this meeting, you are made aware of the steps necessary to implement these recommendations.
STEP 4: IMPLEMENT PLAN
The next thing we do is launch your personal website on WealthVision. This will provide you with:
- 24/7 access to your complete financial picture, including daily updates on all financial accounts
- The ability to grant access to your other trusted advisors (such as accountants, attorneys or family members) to keep everyone informed
- A place to upload important financial documents such as wills or tax returns to your personal, secure encrypted site
Your secure Wealth Vision will give you confidence in knowing that you and all your trusted advisors are closely monitoring every aspect of your financial plan.
Following the launch of Wealth Vision, Adam’s recommendations can then be implemented in one of the following ways:
- Adam and his staff implement the plan for you, which includes managing your investments and procuring any insurance products. Many of our clients prefer this option, because it comes with the financial confidence that your entire financial portfolio is being overseen by a single, trusted professional.
- You implement Adam’s plan on your own. If you choose this option, we can provide planning/consulting services to help you make better decisions. Additional fees will apply.