The financial management process at Bruce G. Allen Investments, LLC, begins with an initial consultation, during which we gain an understanding of each clients needs to make a well-informed decision about working together. Our experience is that this is the foundation of a good long term relationship. If we mutually agree there is a good professional fit, we move on to the next step.
Once we have decided to move forward together, we schedule a second meeting, during which we collect information about your assets, liabilities, risk tolerance, goals, and financial needs. We really flesh out your goals, your concerns, and your comfort with the risks associated with investing. This meeting usually takes place in our office, and we ask you to bring all of your recent financial statements.
Depending upon your unique financial situation, we may recommend a variety of investment products, including money markets, stocks, bonds, mutual funds, tax-free bonds, managed accounts, and annuities. We use the information you gave us about your goals and objectives to prepare a preliminary financial plan.
We will then meet shortly after to review the draft of the financial plan. This appointment will give you the opportunity to review our recommendations and get things underway. Once you are ready to implement our recommendations, we will have all of the paperwork necessary to set up and transfer your accounts and begin the investment process.
The transfer process is seamless. You complete our forms and we contact your previous brokerage firm to initiate the transfers. Typically, most assets transfer in-kind within two weeks via the Automated Customer Account Transfer (ACAT) system, which allows broker dealers to enter, review, and settle transfers in a fully automated manner. Certain investments can take a bit longer or require additional paperwork.
Once the accounts are set up and the initial investments are made, the account is monitored on an ongoing basis and in light of prevailing market conditions. We review the accounts at least quarterly and rebalance or make adjustments, as needed. We typically meet with clients on a quarterly or annual basis, depending on the complexity of the portfolio, to review performance and discuss any changes that need to be made.
We also work closely with our clients’ attorneys and CPAs to streamline tax preparation and estate planning.