After your client completes a risk assessment and you have made an investment recommendation, the last step is to generate a personalized investment proposal.
Generating a Proposal
After reviewing the model recommendation and ensuring the client or prospect is placed in the correct model, follow the steps below to generate a proposal:
Click Generate Proposal in the top right corner of the Recommendations page or click on the Proposals tab:
Select from several Proposal Templates using the dropdown under IPS. The default is an Investment Policy Statement:
In addition to the IPS, which compares a current portfolio to a recommended portfolio, the other proposals available include:
Snapshot IPS - shorter, condensed version of the IPS
Current Portfolio - summary charts and data of a client's current portfolio
Plan Proposal - proposal highlighting retirement planning journeys
Generic Report - proposal containing every available element checked on
To edit the client name, the advisor's name, or the advisor's email address, click the pencil icon to the right of the proposal > make the necessary changes > click Save.
Hover over any section in the proposal outline to change the name of the element, which will update the Header of that section:
Once you've reviewed everything and you're ready to download, click Generate Proposal in the bottom right corner to download the proposal a PDF (to save, email, or print for your client).
Generating a Current Portfolio Report
If a client hasn't completed a risk assessment and you'd like to generate a proposal by using their current portfolio, click Proposals > select to either Generate a Recommendation or Upload Current Portfolio
This will take you through the steps of selecting a model from your Active Model list for a recommendation or uploading the client's account to generate a Current Portfolio Report.
Additionally, if your client has a portfolio uploaded on TIFIN Wealth and you would like to simply generate a proposal report that summarizes their risk band, holdings, performance, and exposures based upon their current portfolio, go to Proposals > select Current Portfolio from the report dropdown:
This will generate a Current Portfolio Report that you can print out for your client.
Are TIFIN Wealth Investment Proposals FINRA Compliant?
TIFIN Wealth’s Investment Policy Statements (IPS) are FINRA compliant and designed to support compliance, keeping Regulation Best Interest in mind. It covers the full SEC definition of RISK Tolerance - the willingness AND ability to take on Risk as outlined below:
FINRA defines "Risk Tolerance" as "a customer's ability and willingness to lose some or all of [the] original investment in exchange for greater potential returns."
We believe the prevalent practice of measuring just the willingness for risk, or the psychological tolerance is insufficient, as this can be quite different than the losses the client can withstand given their unique personal and financial situations.
To be consistent with the guidance of FINRA's suitability rule, TIFIN Wealth's risk score measures both a client's willingness, what we call "Risk Preferences", and the ability, or "Risk Capacity", to lose money for potential gains.
Asset allocation and diversification do not guarantee investment returns or eliminate risk of loss. They are investment methods used to help manage risk and volatility within a portfolio.