Client Review Prep

Workflow

Step 1: Client Context

Gather or look up:

• Client name and household members
• Account types: Taxable, IRA, Roth, 401(k), trust, etc.
• Total AUM across accounts
• Investment Policy Statement (IPS): Target allocation, risk tolerance, constraints
• Life stage: Accumulation, pre-retirement, retirement, legacy
• Last meeting date and any outstanding action items

Step 2: Portfolio Performance

For each account and the household aggregate:

Performance Attribution:

• Which asset classes / positions drove returns?
• Top 3 contributors and top 3 detractors
• Any outsized single-position impact?

Step 3: Allocation Review

Current vs. target allocation:

Flag any drift exceeding the IPS rebalancing threshold (typically 3-5%).

Step 4: Talking Points

Generate a meeting agenda:

1. Market overview (2-3 min): Brief macro context and outlook
2. Portfolio performance (5 min): How did we do? Why?
3. Allocation review (5 min): Any rebalancing needed?
4. Planning updates (5-10 min):
   • Life changes? (job, health, family, home, education)
   • Income needs changing?
   • Tax situation updates
   • Estate planning updates
5. Action items (5 min): What are we doing before next meeting?

Step 5: Proactive Recommendations

Based on the review, suggest:

• Rebalancing trades (if drift exceeds thresholds)
• Tax-loss harvesting opportunities
• Cash deployment or withdrawal planning
• Roth conversion opportunities (if applicable)
• Beneficiary updates or estate planning needs
• Insurance review (life, disability, LTC)

Step 6: Output

• One-page client review summary (Word or PDF)
• Performance table with benchmarks
• Allocation pie chart (current vs. target)
• Recommended action items
• Meeting agenda

Important Notes

• Know your client before the meeting — review notes from last meeting
• Lead with what the client cares about, not what you want to talk about
• If performance was bad, address it directly — don't hide or spin
• Always end with clear action items and next steps with dates
• Document the meeting notes and any changes to the IPS
• Compliance: ensure all materials are compliant with firm policies and regulatory requirements