The Financial Planning Process

As a first step, we ask each new client to complete a confidential questionnaire that provides us with an introduction to you. Next comes a face-to-face meeting with an MLFA officer and a senior member of the advisory team. Together with you, we will delve into greater detail about your individual situation. Our goal:  to gain a better understanding of your personal goals and objectives, investment horizon, and risk tolerance, and to learn what defines financial "success" for you. After formalizing our relationship through an engagement letter which outlines the services we will provide and the fees to be charged, we develop custom-tailored analyses and recommendations that are incorporated into a detailed written financial plan.

We look at your entire financial picture to develop and communicate clear recommendations to improve your situation. We determine whether your investment portfolio is best suited for mutual funds, or a combination of mutual funds and separately managed accounts and/or alternative investments directed by outside investment managers. For mutual fund portfolios, we provide discretionary management in-house. For separately managed accounts, we recommend and monitor the performance of third-party investment managers.

We will recommend a target asset allocation, such as the mix between equities, fixed income, cash equivalents, and alternative investments, as well as an allocation between domestic and foreign securities. Depending on your goals and situation, we will also look in detail at other matters of importance. If applicable, we will conduct a general review of and make recommendations regarding your estate documents, perform a retirement analysis or insurance needs assessment, recommend college savings vehicles, and/or identify ways to achieve your charitable giving goals, among other services.

After completing the plan, we review our recommendations with you in person. Once we obtain your approval, we handle and coordinate the implementation of our recommendations, usually with only a minimal amount of client action needed. Our team of professionals oversees your investment assets on an ongoing basis and ensures that the overall portfolio remains consistent with your financial goals.

Ongoing consultation is a cornerstone of our service. We recommend face-to-face meetings at least once a year to review any changes in your circumstances and to monitor and adjust the plan accordingly. We also welcome and encourage phone and e-mail communications with our officers and senior professionals.