It is important to be aware of the professional relationship that you have established with your investment adviser and how it will continue into the future.
You may question the need to review your investment portfolio on a regular basis, particularly when you understand that a review fee will be charged for this service.
Needs and circumstances will change over time and it is vital that your financial planning is reviewed in line with these developments.
Changes such as marriage, birth of a child, divorce, change of employment, moving home, death of a close relative or retirement can all have an impact on existing and future plans.
Alongside these developments, your attitude towards investment risk may also change and will need to be updated.
External changes can also impact decisions that have been made in the past. Important developments can take place in the fiscal, investment and economic environment which need to be considered and discussed at a review meeting.
Review meetings on an advisory basis should probably take place at least once a year but this will depend on the your needs and wishes and the complexity and size of the investment.
If the adviser is providing discretionary portfolio management then reviews and valuations should be provided on a more frequent basis.
The challenge for the adviser is to keep the process fresh and interesting as they meet with the client every year.
The adviser must take time to listen, to discuss the events that have taken place since the last review, and ensure they do not miss important information that could impact your existing and future financial planning.
