As 2016 comes to an end, I want to draw your attention to certain investment tools that I have recently acquired that will add value to the services that I will be able to provide you in 2017. Recently, various investments have been made at Snyder Asset Management that will enhance the client experience. These investments primarily relate to Research, Performance Reporting, and Financial Planning. The following outlines how two of these investments pertain to you, and how each will be leveraged to help you pursue your goals.
1. Portfolio Manager Reports
How many times have you been asked how your portfolio has performed and didn’t know the answer? In 2016, a financial services firm should be supplying accurate performance reporting to clients. Unfortunately, not all firms provide systems that accurately convey performance.
LPL Financial offers a tool called Portfolio Manager Reports that gives clear and accurate performance reporting over a customizable time period.
This software also gives accurate information on the performance of each asset, and the income each asset may potentially pay in the form of dividends and interest. If you’re retired and rely on income from your investments, wouldn’t it be nice to know the amount you may potentially receive and when you’ll receive that?
2. Wealth Vision
Wealth Vision is a comprehensive financial planning tool that integrates all financial accounts onto one platform. Instead of logging onto various bank accounts to view balances and transactions, you can log onto your LPL Financial account and access Wealth Vision. There, you can view balances for all of your financial accounts such as brokerage accounts, bank accounts, credit cards, and mortgages. A personal financial net worth statement is available detailing all assets and liabilities.
Wealth Vision allows me to run reports so I can help you plan for various goals such as retirement, or college education for kids or grandkids. I can help you calculate how much money you may need to save in order to live the lifestyle you want to live in retirement. If you aren’t on track to reach your goals, Wealth Vision will make recommendations so that you can make changes to manage your goals.
If you use different brokerage accounts to invest, Wealth Vision will integrate all accounts so you can view your overall asset allocation. For example, if you have an IRA at Charles Schwab, an existing 401k through your employer, and a taxable account at LPL, Wealth Vision will display the asset allocation in real time for all accounts. Knowing how you’re diversified across all accounts is critical to pursuing your goals, and allows me to give guidance on portfolios outside of my management.
You can also upload legal documents such as Wills, Powers Of Attorney, or Trusts to store on Wealth Vision. This way, your beneficiaries can locate all accounts and documents on one platform.
Continuing to research different strategies that may offer a more steady return or income stream relative to stocks is something I will continue to do. It is my belief that over a full market cycle an approach based on risk management is the most prudent way to invest. This means diversifying outside of the standard stock and bond portfolio, and implementing alternatives. I am fortunate to have access to a wide array of Alternative Investments at LPL Financial. Historically, these investments were usually only available to Institutions or Ultra High Net Worth Individuals. When suitable, leveraging these strategies for all clients will be important in the future.
What I’m most excited about is continuing to work in depth with clients to help you pursue your goals. Everybody is different and has a unique situation, whether you’re a retiree who wants to preserve capital and simply wants the portfolio to outpace inflation, or an investor who is working towards retirement and needs growth. It is my belief both investors deserve unbiased advice, a high level of customer service, and a portfolio that’s customized to their situation.
I wish you all a healthy and happy New Year, and I look forward to working with you in 2017!
Philip B. Snyder, CFA