The second quarter of 2018 is already here, and things are still humming at nVest. Here’s what’s new for you this quarter:
Your new financial plan – LifeCycle Planning
We’ve talked quite a bit about our new LifeCycle financial planning system and we’re really excited to get our clients started.
As we roll this new program out, here’s what you need to know:
1 ) All of our clients have been assigned one of three starting points on the LifeCycle system. This lets us know where to focus our planning efforts with you. Depending on your investment time frames, your current progress toward significant financial goals, and your assets, you’re either an Early nVestor, an Emerging nVestor, or an Established nVestor.
Early nVestors are usually younger and are focused on things like paying down debt and student loans, landing that first “real” job, climbing the corporate ladder, starting a family, and first-time home buying. Things like life and disability insurance are important here because your number one asset is usually your future income potential. Our Early nVestors are usually pretty tech savvy and are usually skeptical of social security being there for them in retirement, and plan on doing it themselves.
Emerging nVestors are typically Gen X-ers and are now focused on college savings for their kids, helping care for aging parents, increasing their earning potential, minimizing taxes, and are really getting serious about debt and retirement savings. Many of our Emerging nVestors have had several job changes, a divorce, and are about to become empty-nesters. Our small business owners usually fall in this group, too.
Established nVestors are either retired or affluent clients who have achieved a lot already and want to now protect what you’ve built. Established nVestors are concerned with trusts and estate plans, risk of litigation, rising medical costs, lowering their exposure to taxes and other kinds of liability, gifting to causes and people you care about, and more.
As you can see, you’ll have very different needs in each stage of the nVestor LifeCycle.
2) Starting this month, you’ll receive an invitation to explore one financial subject every quarter, and the subjects will be different for whether you are an Early, Emerging, or Established nVestor. This first quarter’s subject will be the same for all three groups, because of its extreme importance to your financial life at any age, but most of the time going forward, you’ll all be studying and learning on a subject that matters to you at your specific stage of life.
I’m extremely proud of this new, very innovative way to work with clients from every possible background and circumstance, and still make it relevant and useful to you. Please look for your invitation to your first nVestor LifeCycle “nFocus” Class later this week.
Our new client dashboard is a big hit – THANK YOU!
If you haven’t been on the client dashboard (Blueleaf) yet, you’re definitely missing out! Please respond to your email invitation to set the dashboard up and start adding your accounts to it.
The dashboard is our central communication hub. It houses all of your financial accounts, not just the ones we manage at nVest. You’ll get all sorts of research and performance information about your investments, and a secure place for us to share documents with each other.
If you’re brand new to it, or need a refresher on how it works, this very brief video will show you how to get started.
We’ve made changes to our firm’s disclosure brochures.
Once per year, or more often if we make a material change to our firm, the law requires that we give you an opportunity to view our Client Disclosure Brochure (formally called our “Form ADV”). Please look for that email later this month, and let us know if you have questions.
A major change from previous years is that nVest Advisors now offers stand-alone financial planning for a flat fee or a monthly subscription. This means, we will offer financial planning services for clients, even if they don’t have investment accounts managed by us. Please see the disclosure for details, but you can read up on this new offer here.
For our clients who have been around a couple of years or longer, one of the other “big” changes we’ve made is that we’ve added several new options for investment account management, including TD Ameritrade, Vestwell (for 401ks), and our wildly popular Betterment. Some our new options may be either better matches for you, or less expensive than what you’re using currently. If you’d like to review your current client agreement and change into one of our new investment management options, let us know.
Have a fantastic April! We look forward to seeing you at our first LifeCycle webinar in a few weeks!