At McLean Asset Management, we are proud of our client onboarding process. We want to give you the best financial experience possible, and that begins with this process.
Our new client process starts before you even officially come on board. During the discovery process, we’ll dig through every aspect of your financial life and uncover how we can help you reach your financial goals.
The discovery process is key – if we’re going to help you, we first need to understand you. We need to understand what you want to accomplish, what is important to you, and what you are concerned about. It also helps a lot if you understand what we can do for you.
This can’t be streamlined and done in a short online quiz like some “online advisors” use. There is no way an online quiz can understand your goals or accurately assess your true investment risk tolerance. That requires sitting down and having a conversation with a trained professional.
We don’t want to streamline our process for new clients. Your financial future is of utmost importance to you, and it should be to your advisor, too. McLean’s advisors measure their success by your success. The discovery process should not be rushed or automated. Taking this time in the beginning means we can provide you the advice and assistance your future financial success demands and you deserve.
McLean’s advisors are experts who can build a strong financial plan catered to your needs, who have a constant eye on your investments, who can keep your financial vehicle on track. A good financial advisor can save you a lot of time, energy, headache and heartache, ultimately helping you reach your financial goals and avoid potholes along the way.
Getting Started: What You Can Expect from the Process
Our process begins with your needs. Sometimes your needs are clear, sometimes they aren’t. Your advisor will help you sort out what help you need.
This reflects the collaborative nature of your relationship with your advisor and illustrates the importance of finding the right advisor. It’s not enough to find an expert who can manage your money: You need someone you click with.
This can usually be determined after three meetings:
- During your initial meeting, your financial advisor will be focused on learning about you and figuring out how best to help you.
- At the follow-up meeting, your financial advisor will propose a plan to meet your needs.
- The final meeting is when everything is signed, and you officially hire your financial advisor from McLean.
If, at the end of these three meetings, you’re not convinced that this is the right advisor for you, then you need to re-examine with that advisor or move on. If it doesn’t feel right, then it’s not right.
When you move forward with us, we will focus on three main areas: operations; transition & implementation; and monitoring & adjusting.
In operations, we’ll work with you to set up your new account, transfer your assets, and verify data. Once that’s been taken care of, we’ll help create and implement an investment transition plan, handle any pressing matters, and get everything working smoothly.
From there, we will continually monitor your plan, make adjustments as needed, periodically re-evaluate your plan and needs, and act as a resource for any issues that may arise.
As I mentioned above, you can expect three meetings before you start working with McLean to make sure it’s a good fit. When we have our third (and final) meeting — the one when you officially hire us as your financial advisor — you’ll begin the operations process.
This part is all about getting your portfolio up and running. It may not sound very exciting, and that’s because it’s not. For the most part, it’s just you and your advisor working your way through the paperwork required to open new accounts and transfer your assets over.
But there are other aspects: using the right custodian, consolidating your assets, and ensuring all assets were received.
Three Important Aspects of Operations (and Why They Are Important)
Use the Right custodian — A custodian is a financial institution that holds your assets for safekeeping to prevent loss or theft. At McLean, we use TD Ameritrade.
Consolidate your assets —We want to make sure your accounts will run like a well-oiled machine, so we’ll consolidate your assets into as few accounts as is appropriate according to your needs. This allows us to manage your assets efficiently and prevents issues from being overlooked or missed.
Make sure all your assets were received — Once the transfer of your assets is complete, we will check to make sure all assets were received. Then we’ll ensure the cost-basis information is accurate and up-to-date so your portfolio thoroughly reflects you.
With these three aspects in place, you and your advisor can move on to the process of transitioning and implementing your portfolio.
Click here to download the rest of this ebook, “What to Expect as a New McLean Asset Management Client.”
McLean Asset Management Corporation (MAMC) is a SEC registered investment adviser. The content of this publication reflects the views of McLean Asset Management Corporation (MAMC) and sources deemed by MAMC to be reliable. There are many different interpretations of investment statistics and many different ideas about how to best use them. Past performance is not indicative of future performance. The information provided is for educational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy or sell securities. There are no warranties, expressed or implied, as to accuracy, completeness, or results obtained from any information on this presentation. Indexes are not available for direct investment. All investments involve risk.
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