We provide comprehensive financial planning via a well-defined process requiring specific information. That process and the information needed is as follows:

Step 1: Initial Client Consultation – The initial consultation takes place either in person or via phone. The consultation is an introductory meeting, and provides us an opportunity to learn more about the prospective clients and his or her needs. During this meeting, the information we collect allows us to formulate a proposal based on the client situation and needs.

Step 2: Proposal – Based on the information gathered at the initial meeting, Montello Wealth formulates a proposal / engagement letter. If the client elects to move forward with the proposal, an executed copy of the engagement letter is returned to us.

Step 3: Base Plan Review – The base plan is essentially the first attempt at modeling the client’s current situation, goals and objectives. We review the base plan with the client to ensure that the data entered is correct, and that we have a clear understanding of the client’s goals. We meet with clients for this review either in person, or via an online meeting. Base plan reviews usually require one to two hours.

Step 4: Final Plan Review – To create the final plan, we make any corrections or adjustments needed subsequent to the base plan review, and we add the plan narrative, which includes analysis, recommendations and next steps. Thus, the final plan not only assesses where a client stands with respect to his or her goals, but also what steps are needed to reduce risk and increase the overall likelihood that plan goals will be met. As with the base plan review, we have either a face-to-face or online meeting, typically lasting one to two hours.

Step 5: Portfolio Review – One of the plan outputs is a target portfolio for the client. The target portfolio describes how the client should invest – in what percentage of large cap U.S. stocks, what percentage in small cap stocks and so on. The plan output includes basic asset allocation recommendations.
The process beyond step 5 depends upon whether a client elects to be self-directed and implement the plan independently, or prefers to move into an advisor-client relationship.

Portfolio Design Process

The portfolio design follows the completion of a plan, and the steps are as follows:

Step 1: Investment Policy Statement – The investment policy statement documents the overall investment strategy, which is determined based on a number of factors, including client risk tolerance and return needs as outlined in the client’s financial plan.

Step 2: Investment Recommendations – Once the investment policy is complete, we formulate specific account-by-account recommendations regarding what should be purchased and what should be sold in each account.

Wealth Management Process

The wealth management process begins where the completion of the initial financial plan and portfolio design end. The first step in wealth management is assisting the client in plan implantation, opening the necessary accounts, transferring assets and implementing recommended trades.

From that point forward, we typically meet with the client monthly during the first 3-6 months as part of a proper on boarding process. After the on boarding process is complete, we meet with clients each quarter or as often as necessary. The meetings offer us a chance to catch up with the client, and ensure we remain informed regarding their financial situation and goals.