The first stage of developing an asset management plan involves discovery: through interviews and questionnaires, the client provides us with relevant information which we use to develop an understanding of the client's general financial goals. We evaluate each client's assets, liabilities, current and potential income levels and any other important elements of their financial circumstances. We also seek to understand each client's specific financial goals, such as funding college education, purchase of a second home, early retirement, etc.

It is very important to quantify specific time horizons for all financial goals, since the appropriate investment plan relative to each goal is based on the length of time until the money is needed. For example, funds for college to begin in three years should be put into low risk investments (e.g., short term debt), while a retirement planned in 15 years would more appropriately be put in potentially higher return investments (e.g., equities).

Armed with this information, we work collaboratively with the client to refine those goals and objectives in the context of what are reasonable investment expectations based on the current economic and market environment. At the end of this phase, the client will have clearly defined financial goals with relevant time horizons, which will form the basis for the asset management plan.