Prepare for Your Annual Review
Our clients are required to meet with us at least once per year, though some of our clients prefer to have more frequent reviews, which we are happy to accommodate.
What to Expect
Reviews generally last from 30 minutes to 2 hours. These appointments can be in our office, at your home, by telephone, or video conference. At these reviews, we do, of course, go over each of your investments in detail. We look at the performance of your investment accounts and review your current portfolio allocation. In addition, we pride ourselves in also spending a fair amount of time reviewing other financial matters such as insurance, education funding, estate planning, taxes, and long term care.
It is not uncommon for us to be asked questions about other client investments that are not through us (e.g., employer 401(k) accounts), and we are happy to make recommendations.
Look forward to discussing these important topics:
Your Current Financial Situation
An annual review meeting is an opportunity for us to assess your current financial situation and what has happened since your last review meeting.
Decisions and Milestones
We are able to provide expert guidance in making decisions such as a new home purchase, tax consequences of starting or selling a small business, acquiring rental property, financing a car, where to retire, or whether to refinance their home.
Preparing for Retirement
As you approach retirement, we may review your current net worth and project your income and expenses through retirement to ensure that you are prepared financially for retirement.
Estate Planning
In your annual review, we also like to make sure that your estate plan is up to date and that you have the correct primary and contingent beneficiaries listed on your accounts.
Tax Planning
Given our experience in tax planning, we also like to review tax planning strategies to make sure that you are seeking to optimally manage your tax situation.
Confidence
Most importantly, we want to address any questions you may have about your financial plan.
How to Prepare
Prior to your annual review, we will send you a copy of an updated Confidential Financial Analysis Report. We create this report with information from your investments through Ostrofe Financial Consultants, Inc. (OFC) and with information we will collect from you prior to your review for assets and liabilities held outside of OFC (e.g., your home value, outstanding mortgage and interest rate, etc.). Your Confidential Financial Analysis report will provide a “net worth summary”, which is a list of all your assets and liabilities, as well as performance results for your investment accounts with OFC. We like to provide this information to our clients prior to our annual review meeting so that they have time to review it and bring any questions they may have to the meeting.