There is no money exchanged among professional advisors for making introductions or for maintaining client relationships using the PEACE™ process. Similarly, there is no obligation for professional advisors to reciprocate with introductions.
We are in the business of delivering high-end wealth management services to middle income families. Our passion leads us to develop a framework of highly developed systems to democratize the process of wealth management. Our smarter systems of delivery and integration allow our clients to save their time and money while reaching their planning objectives more effectively and consistently.
Following are the summaries for the core functions of the PEACE™ process. The delivery is supported by customized technology solutions designed specifically for the work we are doing.
Written permission is obtained from the client prior to making an introduction to a new advisor or to open a channel of communication with existing advisors. We also provide our Outside Business Activity form to outline what we do, our limitations, and what may be expected.
The permission document is provided to the outside professional along with the introduction letter. The introduction letter is introducing the client to a new advisor or it is introducing Talisman to an existing advisor.
A next action sequence is added to our client relationship management (CRM) system which then prompts us to complete a number of follow up steps toward ensuring the completion of the desired client service. Part of that follow up sequence includes the distribution of the Professional Referral Participation Agreement.
The participation agreement is shared between the professional advisors. The document outlines who Talisman is, what we do, what is expected in terms of the quality of services rendered, the means or manner in which either party can terminate the relationship,and the limitation of liability. The document also stipulates that there is no compensation to be paid for making introductions or for maintaining the PEACE service, unless it is first disclosed to the client in writing.
Once a professional service has been completed, the Personal Financial Review is updated with the new information and the recommended pending actions are completed on our CRM system.
Review meetings for each client alternate between planning meetings and investment performance meetings. Rome wasn’t built in a day and our clients are busy people! We generally take from an hour to an hour and a half for an existing client review.
The planning review will start with addressing any new issues or concerns that may have developed and then follow up on any outstanding planning related issues by revisiting the plan and considering previous initiatives and any impediments that may have developed. It could mean following up on a Will and the Power of Attorney, or considering final arrangements, and other areas of estate planning. We will be keeping an eye on insurance details, beneficiaries, and any other changes that may be considered.
The tax implications of investing are important, so we are looking at the tax reporting of capital losses and carry forwards in RSP’s and TSFA’s and we are staying current using the Notice of Assessment.
At pre-determined intervals throughout the year, communication is made with the client and their outside professionals with regard to tax and accounting, insurance , Wills and estate planning, finance, and final arrangements. The communication provides constant feedback and enables the client and other advisors to evaluate existing arrangements or to make updated information available that could influence decisions that are being made on behalf of the client. The process is designed to surround our client with a team based approach and to integrate each of the important areas of planning on an ongoing basis.
As changes occur in the lives of our clients, we ensure their planning changes with them.
Performance review meetings include a comparison of overall investment performance against relevant benchmark indices. We articulate clearly the amount of money invested, its current value, and the rates of return over various time frames. Performance reviews also include a view of the geographical allocations and the sector weightings across the entire portfolio. We discuss the present market conditions and we look at the historical trends.
Individual holdings are discussed and monitored for changes to managers, sustained under performance, and continuing relevance to the overall objectives. We consider the concentration of individual securities within the overall portfolio.
We consider the allocation of the portfolio between fixed income and equities. We have a very sharp focus on income. We ensure there is enough fixed income on hand to meet the short term needs of investors and we re-balance where necessary.
We offer a cash management strategy for systematically accumulating cash during the good times so that we are in a position to take advantage of opportunities when they arise.
Where necessary we recommend any changes that are needed and we generally manage those changes without any additional cost to the client.