“Did I think of everything, is there something I failed to consider?  What are other affluent families doing in this situation? I am at that point….it is time, to make key decisions and establish a direction, a plan a strategy. What else am I missing?”

Are these similar to the questions you have been asking yourself? If so, these are the important series of questions to begin to answer your questions, so you can frame your approach.

1. Values?

  • What’s important to you about money?
  • What in particular is important to you about that value?

2. Goals?

  • What are your top accomplishments? What would you like them to be?
  • What would you like to achieve with your money?
  • In dollar figures, how much money do you need or want?
  • When you think about your money, what concerns, needs or feelings come to mind?
  • Ideally, where would you like to be when you are 45? 55? 65? 75?
  • If you didn’t have to work anymore, what would you do?

3. Relationships?

  • Which family member relationships (spouse, children, siblings, parents, etc.) are the most important ones to you?
  • How important are your relationships with people you work with?

4. Assets?

  • What is your source of income (privately held business, employer, profession)?
  • How do you make money today? How is that likely to change in the next three years?
  • What were your best and worst financial moves? What happened?

5. Advisors?

  • Do you have a lawyer? How do you feel about the relationship?
  • Do you have an accountant? How do you feel about the relationship?

6. Process?

  • How involved do you like to be in managing your finances?
  • How many face-to-face meetings would you want over the course of a year?
  • Do you want a call about your personal situation when there is a sudden change in the market?

7. Interests?

  • Do you follow sports? Which are your favorite teams?
  • What do you read?
  • Do you have health concerns or interests? What is your health program?
  • What charitable causes do you donate to? Volunteer for?

This is the abbreviated list of questions.  If you would like the complete list of questions I use to identify key areas of concern for affluent investors, please click here and I will send you the full list of questions I have found useful to ask.

I hope you found this interesting and useful.  If there are areas, you think are important and not included, please feel free to let me know.



The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. 

Securities offered through LPL Financial, Member FINRA/SIPC. Investment Advice offered through RS Asset Management, LLC, a registered investment advisor and separate entity from LPL Financial.