Hi. This is Dave Piatkowski with Dickinson Investments. I just want to take a few minutes of your time today to explain a few of the services we provide here at Dickinson Investments.
In recent months at various social gatherings, people have often asked me, “Hey, what do you do for a living?” Whether it was at a baseball game or church or golf or family reunion picnic, I would say, “I’m a financial planner and investment advisor,” and a lot of folks would just leave it at that. But some would actually follow up and say something to the effect of “Geez, I’m not exactly sure what that means. What can you do as a financial planner or investment advisor?” So I would tell them about some of our services.
Because that has come up often enough, we thought it might be a good idea to actually take several minutes of your time and go through a few of our services so people can be more aware of that.
One of the first things that we like to do in our discovery meetingis to get to know you and gather information so we can do a financial plan for you. What that entails essentially is plugging in all of your assets or 401(k)s and IRAs and Social Security amounts or pension amounts, living expenses, home values, what have you — and making sure that you’re on track to be able to retire if you haven’t retired yet, or to be able to stay retired comfortably if you have already retired.
Anyone can retire within reason at any time, but being able to comfortably stay retired for the long haul is really the tough part, and we give people peace of mind through our software to be able to let them know whether or not they are on track.
Second, on the investment advisory side, in managing your retirement assets or other assets for you, we determine your risk tolerance and set up a portfolio that matches your risk tolerance – whether you’re a conservative or moderate or aggressive investor. We want it to match who you are so you can sleep at night – and that’s very changeable. As people approach retirement, they typically get slightly more conservative, but not always because everyone does things a little different.
Also, we do some investment selection and monitor those investments for you. So we do a lot of research and we keep track of everything for you in great detail. If something does need to be rebalanced or if an individual investment needs to be replaced, we do that for you. So we’re watching it on a daily, weekly, monthly, quarterly, and annual basis – and it’s very detailed. Most people really appreciate the fact that we’re watching and keeping track of this for them.
Additionally, we provide account review meetings. We will reach out to you at a minimum on an annual basis to do an annual review. It may be to just look at your portfolio and update your risk tolerance. It may be to have an in-between meeting because something in your life has changed. Or it may be in conjunction with your tax meeting.
One of the other things we provide is that we can do your tax work for you. As a result of that, it is actually quite helpful to do your tax planning and your investment management together. We can do things like tax loss harvesting if that’s something that needs to be done. At any case, we do reviews at least annually, and sometimes we have several meetings a year with you if it’s needed – in addition to a tax meeting.
In addition to that, we provide a personal website portal so you can log in to your account safely and securely right from our Dickinson Investments website to see the updated value on your accounts and to list your individual accounts. Your portal will have a nice pie chart so you can see where you are year-to-date, month-to-date, quarter-to-date, or since the inception of your account. It’s nice and quick and easy, so you don’t have to log into multiple places and click around. Most people have found that to be a great feature as well.
Also, in addition to your individual meetings, we provide client seminars on various subjects throughout the year – whether it’s updates on the economy and the markets, or educational seminars about tax planning or things like estate planning and setting up a will or trust – if that’s something you’re interested in. So throughout the year, there will be opportunities to be in a group setting in our training room to get additional information outside of our one-on-one meetings with you.
In addition to all that, we provide Social Security timing reports and pension maximization reports. So if you’re someone who’s fortunate enough to have a pension, we can help you with that decision-making process. If you haven’t made that decision already or if you’re not retired but you’re approaching retirement, we want to help you decide what Social Security timing strategy would be best for you. We can also use our software for that as well.
Finally, we offer estate planning consultation through an attorney that we work with where you can talk personally about a will or a trust – outside of our regular educational seminar.
When you add up all of those services – once again, everybody doesn’t have to use all of the services but it’s something that we offer, because these are things that people really focus on as they approach retirement. We hope that this was helpful for you in understanding some of the ways that we can be of service to you.
[Financial Planning and Investment Management Services offered through Dickinson Investment Advisors, Registered Investment Advisor. Statistics and market information provided by Litman Gregory Advisor Intelligence.]