wealth management process and fees

What Will Be The Wealth Management Process When Working With Heritage?

After the initial phone meeting and we decide that working together is in both of our best interests, we will begin the process. Our Wealth Management consists of two aspects: pre-management and the actual management. Pre-management is used to determine what you are looking to accomplish, set expectations, and start building your accounts. The management is the internal process after we take control, building and managing your accounts according to your goals established in the pre-management process.

Click to see our Wealth Management Fee Structure

The Pre-Management Process

Before the ongoing process of Wealth Management begins, certain preliminary steps need to be taken. We will need to get to know each other, determine what you are looking to accomplish, set expectations, gather data, and start building your accounts. Only after all that is accomplished, the management process can begin:

Introduction Phone Meeting

We will start our relationship with an introductory phone meeting used to determine what goals you are looking to accomplish and set expectations. If everyone feels comfortable with the new relationship and we all agree to move forward, the process can officially begin.

Data Gathering/Risk Assessment

At this time we will have you fill out our profile questionnaire and request select financial information. We will send you a list items we will need, which may include any investments, your tax returns, insurance, budget, etc. Having this information as soon as possible will allow us more time to be able to able to review and possibly ask you to bring any additional information.

If you have not already filled it out, you might be sent a link to the Riskalyze Risk Assessment website. By performing a risk assessment, we can ensure that your current investments can actually align with your investment goals and expectations both before beginning work and in the future.

Goal-Identification Meeting

Goal identification is the heart of financial planning. During this meeting you will share with us your specific financial goals, we will discuss the feasibility of these goals, and quantify how to reach these goals.

Goals will be more than just "I want to retire at 65." We will build clear goals such as "I want to try retiring at 65 with an after-tax income of $150,000 a year, all debts paid. I want to take a major trip twice a year and buy a car every five years."

Because of the strategic nature of these meetings, we do require all decision-makers at this and other planning meetings.

Engagement Agreement

At this point in the process, all parties will know if the Advisor/Client relationship is profitable and worth engagement. Paperwork is now required for us to begin the process. In order to gain access to your existing accounts, you will need to fill out an Engagement Agreement (fiduciary agreement). This paperwork is required for us to begin the process of opening your new accounts and transferring the funds to them.

Open Accounts/Transfer Funds

Upon completion of all paperwork, the Engagement Agreement will be sent to our custodian TD Ameritrade, accounts will be opened, and funds transferred in. After the funds are deposited, you will receive login information to all online portals allowing you access to all your accounts.

Please note, the transfer of funds can take as little as three days, or as long as two months. Also, all funds will be housed at TD Ameritrade, not Heritage Investors.

The Management Process

After all this preliminary pre-management work is complete, the professionals at Heritage take over.

Matching - Plan Review

Using the numbers from the Data Gathering, Risk Tolerance, and the discussions during our Goal Setting meeting, we will check to see if your current portfolio "matches" the goals that you outlined.

Once we've entered the data into the software, we will have an initial result ready for your review. In many cases, the outcome of your current financial plan is less than desirable and adjustment is needed. It is in this review meeting where we will generate multiple scenarios with various outcomes until we find the exact approach to achieve the desired results.


After we review the various scenarios discussed in the Matching meeting on how to reach your goals, then we'll begin implementing the scenario which best fits your personality, your style, and your overall objectives.

The implementation phase could take two weeks, it could take six months, or it could take a year to implement all the initial strategies. But once we finish the implementation phase, then we update the planning software with the adjustments that we've made and we'll schedule a final plan review.


After we have updated the planning software with all the adjustments and specifics changes we have made, we will review the big picture again. We will confirm that you are headed in the exact direction toward your specific goals. This will be a final recap of our entire process thus far. It is also with this last step that we will create your personal user portal.

Monitor/Review – Tactical Rebalancing

As life happens and the markets, we are going to deal with it and constantly adjust our direction to make sure you are staying on your path moving toward the desired goals. By planning and staying proactive, you have a better chance at success of reaching those goals than someone who is reactive.

Financial Plan Review Meetings

Depending on your specific needs and plan, we could continue to meet up to 4 times per year (see the wealth management fees page). It has been our experience that after the initial planning, adjustments, and implementation is complete, there is a time of our relationship where our clients prefer to meet with us about 2 times per year. However, we do have clients who request phone meetings as possible strategy-changing issues arise.

As with other reporting meetings, we request that decision-makers attend.

Learn About Our Wealth Management Fees

Just one of the many ways we feel your trust is gained is by being 100% transparent about the fee structures. Click to learn about our Wealth Management fee structure.

Schedule An Intro Phone Meeting

If you are ready for Heritage Investors to manage your portfolio, schedule a meeting with one of our team members.