We know it can be hard to find the right team of financial advisors. Below are the steps we take in forming a productive client relationship — from your initial consultation, to opening your account with us, plus information about what happens after you open your accounts.
Understanding Your Financial Needs
Before we begin investing your account or preparing an investment plan, we first need to learn about your goals, objectives, and unique situation. Instead of a generic questionnaire, at Magellan Financial we combine Wells Fargo Advisors’ Envision® process with our own Investment Planning Process to help create a clear, concise picture of where you are today, what your goals are, and how to chart the course toward your desired future.
Proposal Stage – Customized Wealth Management and Investment Planning
We begin by providing you with an investment plan designed for your unique situation. With the information and understanding gathered during the consultation phase, we use our investment planning tools to create a picture of your current financial circumstance and a plan to help you achieve your stated objectives. At the presentation you will receive the following:
- A summary of your current assets, liabilities, spending patterns, and tax situation
- A picture of how your financial circumstances align with your long-term goals
- An initial wealth management plan, which will guide your investment strategy
We always encourage our clients to become engaged in the process and to ask as many questions as necessary to become comfortable with the wealth management plan and the resulting investment strategy.
Account Set Up and Asset Transfers – How This Works
All the paperwork is done by us. Once we have your current information, we will prepare all paperwork necessary to open and transfer your assets. We will ask you to review the documents to ensure their accuracy and then sign them. We will take it from there.
If you have accounts at other brokerage firms or banks, we will transfer these accounts to Magellan Financial so they can become a part of your comprehensive investment plan. Other accounts, such as your 401(k)Retirement Plan at your current employer, will remain at the current custodian but will become a part of your overall investment strategy. You will be informed of all fees and costs prior to transferring any account.
Your investment accounts will be opened at Wells Fargo Advisors Financial Network and an associate of Magellan Financial will be designated as your financial advisor. All of your assets will be held in custody with Wells Fargo Advisors Financial Network. We advise on your accounts, place trades and request changes on your behalf.
Once the accounts are opened, you will begin to receive account statements and trade confirmations. We highly recommend you Go Green and receive these documents online.
Implement the Investment Strategy
All of the information we gathered from the consultation process will be transformed into your actual investment plan. Included in the Investment Plan is the type of investments you will own and what types of accounts you have. Once your assets are received, we will begin to implement the agreed upon investment strategy.
Ongoing Contact and Plan Review
We maintain regular contact with every client, but our ongoing meeting schedules are determined by your preferences. Whether you prefer to meet quarterly or yearly, we are here to ensure you stay up-to-date with our continuing adaptations to your investments.
Become a Client
The first step to becoming a client is to meet with us. There is no obligation. You can submit your request for information, or give our office a call at 610-437-5650.
