Step 4 – The Strategic Investment Plan (Development)
The Fourth Stage of the strategic planning process is the investment or financial planner will develop the strategic investment plan, and present it to the client. Obviously, the assumptions that must be plausible, should be used for planning future goals. As you probably understand, the scheduler will use the data and information gathered in the previous steps to develop the strategic planning of investments.
Step 5- Implementation of the Strategic Plan Investments
At this stage, we will implement the investment plan developed in the previous step. The financial planner will make clear to his client that it will, to achieve its goals, follow the developed strategic plan. Sometimes, the client will choose to make only a part of the strategic plan with the financial planner and leave the task to other institutions or other advisors realize other parts of planning. Although the role of financial planners in this step is reduced, it is nevertheless important that it is present.
Step 6 – Feedback, Monitoring and Updates
The last step of the strategic planning process, which contains feedback (feedback), follow up with the client and updates the plan is probably the most important and most basic level of long-term development of a trusting relationship between client and financial planner.
At this stage, the planner should be informed about the development of the client’s investments, will calculate the actual return on realized investments, should contact the customer if there are interesting opportunities or unexpected situations, etc.
It is important for the financial planner to define the level of monitoring and the quality of it in its engagement letter so as to give a good idea to customer care actually receive it.
