FORT MYERS, FL – OCTOBER 18th, 2022 – Growing wealth through wise investments is the hallmark of savvy wealth managers. What sets them apart from most investment advisors is their deep understanding that planning investments strategically is the key to success.

“Having a strategic plan for your clients gives your actions a clear purpose and direction so you can get the most out of their investments,” says Mark Robert Salem, a wealth management expert who helps his clients navigate an array of financial strategies.

So what is investment planning and why is it important? Mark Robert Salem answers these questions and outlines some of the key benefits below.

Investment Planning

For wealth managers and financial advisors, investment planning involves aligning the clients’ financial goals with their investment resources.

“The first step of any well-thought-out investment plan is to identify your client’s financial objectives to help you determine the types of investments you can use to multiply their assets,” Mark Robert Salem explains.

With a strategic investment plan in place, the importance of having one becomes clear, highlighting the importance of setting long-term goals and identifying strategic ways they can be met using available resources.

“An investment plan gives your clients a view of the big picture based on their future financial goals and objectives. If your clients know where they want to go, then you, as a wealth manager, can help them navigate there,” Mark Robert Salem says.

Weighing Pros and Cons

An investment plan also allows you and your client to weigh the pros and cons of their financial goals and objectives and how strategic investments can help them get there.

“Determining the type of investments that will be most beneficial to your client is crucial to the overall success of the investment plan, as each investment portfolio is going to be different,” Mark Robert Salem points out. “For example, growth investments tend to work for long-term investors that are able to withstand turbulence in the market but may not work for more near-term investors with immediate goals.” 

“There is also risk appetite to consider and how it stacks up against the pros and cons of your client’s goals,” Mark Robert Salem adds. “Every investment involves risk to a certain degree, so it’s best to align with your client on risk appetite and determine how that influences your investment decisions.”

Committing to the Plan

Once you have an investment plan in place for your client, you will have to commit to it and deliver results.

“Committing to the plan doesn’t mean sticking to it until the end of your engagement with the client. In fact, you and your client would need to commit to setting time to monitor and review the effectiveness of your plan,” Mark Robert Salem says. “Plans are meant to evolve as we learn more, but the strategies to reach client goals should remain consistent.”

Committing to the plan means keeping clients’ financial goals in sight in order to continually assess the best investment vehicles needed to meet these objectives.

Every client is unique, so wealth managers and financial advisors must spend more time evaluating the needs and goals of each client on a case-by-case basis. Building an investment plan around these needs and goals ensures your clients’ investments have a clear sense of direction and purpose and guarantee the best return for them.

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