A Wealth Management Firm With Realistic Expectations

The value of a wealth management team with realistic expectations means the world to investors trying to survive the constantly evolving financial landscape. As the economy fluctuates in cycles naturally, wealth managers must rise to each occasion and go to bat for their clients.

That’s why it pays for financial advisors to have processes and realistic expectations in place: to help investors stay grounded knowing that their plan can survive any storm or life event.

These variables will help us determine many aspects of your overall wealth plan and set some realistic expectations on both sides of the fence:

  • Your current financial situation
  • Risk tolerance
  • Time horizon
  • Asset allocation
  • Cash flow needs
  • Latest research
  • Market trends and forecasts
  • Economic conditions
  • Short- and long-term goals

A wealth management firm with clear expectations can help clients through a seamless process to formulate a path that makes sense for them. We use the 3D approach at Brown | Miller Wealth Management: Discover. Design. Deliver.

Taking the time and energy to get to know you is the most vital step in crafting a plan of action. Each part of your comprehensive financial plan is related to the above bullet points, and every one of them points back to #1 (that’s you)!

Getting to know you and your family well is a top priority for our team.

Principles of a wealth management firm washington dc discover design deliverDiscovering your dreams and goals

Setting achievable, realistic goals and benchmarks is done best by learning about your hopes, dreams, priorities, and preferred lifestyle.

Designing a financial roadmap

We can then formulate an easy to follow financial roadmap that helps you check off the boxes. With clarity around your finances, you’ll never have to guess. With a wealth management firm in the Washington D.C. area, you can make informed decisions.

Delivering results

By monitoring your investment portfolio and through consistent communication, your living plan can be adjusted according to your life goals or market conditions.


Defining realistic expectations

Have you ever heard the saying that expectations are premeditated disappointments? Well that’s only true if the expectations are not communicated and agreed upon initially. With clearly spoken expectations, you can navigate the road ahead with the “rules” defined.

A CERTIFIED FINANCIAL PLANNERTM in the D.C. area should be able to help you define realistic financial expectations. Your wealth management firm can help you create a plan full of achievable goals and dates you’d like to achieve them by.

Your team can also help you learn financial discipline in order to maintain progress.

Because we are client-centered, independent financial advisors in the Washington D.C. area, our approach is only possible through honesty and integrity. Having open conversations about finances is a sensitive aspect of life, and we are here to help you make the best decisions for you and your family.

Let’s be real: there is no such thing as a perfect investment advisor or wealth manager. The reality is that everyone makes mistakes, and it’s possible for an advisor to lose money for their clients. If you are trying to decide who the best financial advisor for you is, ask potential advisors about mistakes learned on the job.

As long as those mistakes are mitigated by good process and oversight, you should be able to trust the advice of your advisors. Ask them what they learned from their mistakes. An honest advisor won’t hesitate to share this information, they will always strive to be transparent.


Maintaining realistic expectations

wealth management firm graph showing expectations vs reality trajectoriesTo maintain realistic expectations, you require a customized financial plan backed by clear communication. With regular check- ins to go over portfolio performance, everyone is on the same page, and dangling questions can be answered.

Like a well-oiled machine, working as a team, efforts are stronger.

The power of teamwork

To get the most out of your wealth management firm, it’s essential to understand that teamwork is everything. In crafting a master plan for your financial future and

successfully executing it, there are too many moving pieces for one person to manage. An investment strategy that considers your full financial life—including those of other family members or business partners—requires experienced collaboration.


Delivering value on expectations

If a wealth management firm can deliver value, it is worth the investment. The key here is “can.” There are many different types of advisors and financial planners out there who may provide similar services. But what separates those who provide real value from those who don’t?

Credentials you can trust

When looking for a wealth management firm, it’s important to trust that the advisors you’re working with have the experience and qualifications they claim. It should go without saying that you want your advisor to be highly qualified in their field of expertise. However, you may also want to ask questions about how long they’ve been in business and how many clients they’ve served over their career.

At Brown | Miller, certified experience enables us to devise a wide variety of portfolio approaches on your behalf. It’s how we find the ideal portfolio mix investment with your specified goals and parameters. Our credentials include:

  • Certified Investment Management Analyst (CIMA®)
  • Chartered Retirement Planning Counselor (CRPC®)

Together, we apply in-depth research to create investment portfolios to help you achieve your investment objectives, seeking optimal success within your risk tolerance.


A good wealth management firm will be honest when something isn’t quite working out

A trustworthy wealth management firm will take the time to educate you about the ins and outs of your financial plan. They’ll be honest with you when something isn’t quite working out as you’d hoped; this is essential for a healthy client-advisor relationship.

By entering into a financial partnership with realistic expectations, you’ll be able to avoid unrealistic budgeting, spending, or goal-setting, and get the most out of your financial resources. You’ll also be able to engage with a team who will work with you to create a plan that works best for your needs and expectations so they can help guide you towards achieving them.

Call us today to connect with a member of our team. We look forward to hearing from you!

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Disclaimer: This article is intended for informational purposes only, and not to be a client-specific suitability analysis or recommendation, an offer to participate in any investment, or a recommendation to buy, hold or sell securities. Do not use this report as the sole basis for investment decisions. Do not select an asset class or investment product based on performance alone. Consider all relevant information, including your existing portfolio, investment objectives, risk tolerance, liquidity needs, and investment time horizon. This report is for general informational purposes only and is not intended to predict or guarantee the future performance of any individual security, market sector, or the markets generally.
The information provided in this article represents the opinions of Brown Miller Wealth Management (“BMWM”) and is expressed as of the date hereof and is subject to change. BMWM assumes no obligation to update or otherwise revise our opinions or this article. The observations and views expressed herein may be changed by BMWM at any time without notice. The information may be based on third-party information, which is deemed reliable, but its accuracy and completeness cannot be guaranteed.
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Author: Christopher W. Brown, CFP®, CIMA®

Christopher W. Brown is the Founder and Managing Principal at Brown | Miller Wealth Management.