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Richard Nickerson & Jennifer Rideout - New Client Process
Our Wealth Management Consulting Process We use the following systematic consulting process to uncover your most important goals and design and implement appropriate solutions . 1. Discovery Meeting . As you are aware from our initial meeting, we conducted a discovery interview. This discussion helps us identify the challenges you face in achieving all that is important to you. We examine your current situation, the goals you would like to achieve and how we can maximize the possibility of achieving those goals. 2. Investment Plan Meeting . At this meeting, we present our diagnostic of your current situation and our recommendations for bridging the gaps for you to reach your goals. This plan forms the foundation for all of our work together. 3. Mutual Commitment Meeting . At this meeting, we are ready to make a mutual decision about whether our firm can add substantial value and whether we should proceed. Should we both choose to work together, we commit to achieving everything important to you and your family. We also execute the documents necessary to put your investment plan into motion. 4. 45-Day Follow-up Meeting . When you have multiple investment accounts, it’s easy to become overwhelmed with the paperwork you receive. At this meeting, we help you organize all that paperwork in a notebook that we provide. We also answer any questions you may have to understand what is happening with your money.
View published source ↗A story that reflects – and inspires – our own
A century later, the Hydrostone is not just surviving – it’s thriving. Built with equal measures of innovation, determination and community, the Hydrostone was made great by the vision of its architects, residents, and the local strengths of its surrounding resources. It not only has inspired our view of what it takes to plan successfully, it reflects our belief that managing the bigger picture for every client involves using their individual strengths and fully exploring every opportunity in order to move their complete wealth management plan forward – on solid ground.
View published source ↗Loss vs. Decline
Imagine it’s November 2008 and two people are looking at their portfolios. They both see that the stock market has fallen roughly 40% in just over a year, taking the value of their equity investments down with it. Investor A decides they can’t take it any more and sells. Investor B does nothing. On a deeper level, Investor A saw a temporary decline and turned it into a permanent loss. Investor B, on the other hand, saw a temporary decline and avoided a loss by not selling. There’s a fundamental lesson here for everyone: a decline is just that. It’s a change, and sometimes a drastic one, in the real-time market prices for various securities. A loss is something different. It’s a permanent loss of capital. Declines are Unavoidable… If we look back at how the stock market has performed over the last two decades, we see that twice in that timeframe, markets have fallen by between 40-50% (2000-2002 and 2007-2008). What’s most notable looking back, however, is how resilient equities proved to be in both cases. They bounced back after the crash from 2000-2002, and they also recovered after the 2007-2008 episode. …But Permanent Losses Can Be Avoided Even if the market is destined to fall significantly from time to time, that doesn’t mean that investors have to suffer a permanent loss of capital along the way. So long as you have a well-balanced, diversified portfolio constructed to meet your long-term goals, you can afford to endure the rocky seas of the markets that arrive from time to time. What you can’t really afford to do, however, is panic and liquidate everything. It may make you feel a bit better when you do it, but odds are that it will only cause regret years from now. …Which Also is Why Speculation is Hazardous to Your Wealth
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