Next steps: A post-meeting follow-up letter for clients

Advisor.ca would like to thank Advisor Pathways for providing the following template letter:

Dear [Client's name],

Thank you for meeting with me to review your [investment portfolio and/or financial situation].

As we discussed, you are on track to achieving your [retirement goals and/or financial goals]. You identified the following as the most critical issues you want to address first:

Financial planning

1. Illness, injury or premature death. You are concerned that in the event of your illness, injury or premature death, your family, assets and business will not be properly cared for. ■ Since you are not currently working with a lawyer, as agreed, I have asked my colleague, [insert name here], a solicitor at [insert name of law firm here] to set up an appointment with you over the next week. [Lawyer's name] will develop your will and designate Power of Attorneys. He can also address any other legal concerns you have. As agreed, I have provided him with the attached summary of your financial affairs. ■ I have set an appointment for [insert date here], for you and I to meet in my office with [insert name here], our insurance advisor, to review your life insurance, disability and business insurance coverage. ■ You agreed to bring your personal and group life and disability insurance policies to that meeting.

Investments

1. Risk tolerance and retirement needs. You described yourself as having a moderate tolerance for risk with the following objectives: A. Protection of capital B. Moderate growth C. Tax efficiency D. Flexible income options

I will develop an investment plan that includes broad diversification (by asset class, management type and internationally), and will manage risk while providing stable returns. To help me develop this, would you please: ■ Complete and return the following documents to transfer your assets to me ■ Provide copies of the most recent statements for the following investments [list them here] ■ Provide statements for your GICs and other bank assets I have provided a stamped, addressed envelope for you to send these documents in.

Once I have reviewed your current holdings and developed my recommendations, I will set up a meeting to review them with you. I expect that will be in [insert number here] weeks.

I have enclosed the article on [whatever you agreed to send the client] and the research on [name of stock/company discussed].

Other issues

You also identified the following as less critical issues that you would like to address over the next six months to one year: A. Education savings plan for your grandchildren B. Transferring assets to your children in a tax-efficient manner C. Charitable giving

We will address these issues in future meetings.

My assistant, [insert name here], and I are available at any time to answer any questions you might have about the issues outlined in this letter or anything else to do with your financial plan or investment portfolio. I look forward to our next meeting on [date of insurance meeting].

Best regards,

[Your signature]

[Your name]