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Open Up and Say Ahhhhh

Peter Katevatis - Sep 03, 2014
We have now passed Labour Day and it is time for back to school, getting organized, and getting back to business after the summer.  Fall is also great time to reflect on your year so far and to review your financial plan - making sure you are still o

We have now passed Labour Day and it is time for back to school, getting organized, and getting back to business after the summer.  Fall is also great time to reflect on your year so far and to review your financial plan - making sure you are still on track going forward.  Surprisingly, most investors review their investments around tax time and in December and with everything else going on at those times of the year, your financial plan often doesn’t receive the attention it needs.  This is a great opportunity to revisit your financial goals and make a game plan for the turbulent months of September & October.

 

Katevatis Wealth Management - Canaccord Genuity Wealth Management

 

Review - what a great word.  It means to look at … again.  But when we look at something for the umpteenth time it starts to look the same as before.  There are usually small variations but often the changes are so slight they don’t cause any action.  This is why it is important to review your plan with your advisor when you have the time to act on both the large and small changes.  When you talk to your advisor you should review the following details:

  • Have you had any changes in your life?
    • Marriage?  New job?  New child?  New pet?
  • Have you had any changes to your goals?
    • Retirement Age?  Retirement plans (“I’m never golfing again!”)?  House to buy?
  • How are you feeling about your finances?
    • Stressed out?  Bills piling up?  Excess cash piling up?  Is the market too volatile?
  • Have you addressed your estate?
    • Is your will up to date?  Did you want to leave a legacy?  Do you have less dependents now?

The answers to these questions can often get you working on those things you have planned to do, but have never gotten around to doing.  If you are not working with a professional to help you with your finances this is a chance to be introspective.  Take the time to put these things on paper, it will change your psychology and it will allow you to give it the attention it deserves.  Be honest with yourself.  It is ok if you are falling short of your goals, but it is not ok for you to lie to yourself.

 

When you open up to review your plan the "Ahhhh" might be more of an "Arghhhh" but dealing with your situation early can hopefully get you back on track quickly.  I have found that clients always feel better after dealing with their portfolios.  The situation may still be below their expectations or requirements, but it they feel better having a plan of action moving forward towards their goals.

 

Katevatis Wealth Management - CGWM

 

Also, Canaccord has recently issued some excellent research reports.  Here are a few that you might want to read:

 

North American Portfolio Strategy & Quantitative Research – September Report

  • This is a great report outlining Martin Roberge’s previous recommendations and a great high level game plan going forward

Global Growth Conference Highlights

  • Canaccord hosted the 34th Annual Global Growth Conference in Boston in late August.  This report outlines the highlights from over 300 company presentations.

Back to School Top Picks

  • This is a stock specific report outlining our award winning analyst’s top picks in each of their respective sectors.

 

If you would like to receive these reports or would like to Open Up and Say Ahhhh with a financial review, let me know.