Investment Plan Development
Why should you develop a formal, written investment policy?
A good plan coordinates investing with proper estate and tax planning. Having a plan to follow provides a framework for evaluating investment performance and improves continuity in decision-making, as well as making sure your investment advisor stays on track with your goals and objectives. Additionally, it encourages effective communication among your advisors and other family members and helps manage pressure for change generated by family members or other outside sources. During times of economic volatility, referring to your plan reduces risk of inadvertently making capricious or arbitrary decisions.
Your investment policy should identify your goals and objectives. Steps to policy development: