So you’re getting your monthly statements but you’re not really clear on where you stand?
Your monthly statements do serve a purpose. It’s not to start a fire, even though it’s certainly been chilly enough lately. If you’re only going to pay attention to a few elements within your monthly statement, this is what you want to look at:
PORTFOLIO SUMMARY: This is where you’ll see the current value of your portfolio.
INSIDE THIS STATEMENT: Lists the pages on which you will find specific information for each of your accounts.
PLAN BENEFICIARIES: Check that this information is accurate and up to date – you don’t want your ex to be there after your divorce.
CASH FLOW SUMMARY: To see deposits, withdrawals and fees.
ASSET DETAILS: To see exactly what you’re invested in.
If you’d like even more information, take a look at your:
PORTFOLIO ASSET ALLOCATION: To see how your portfolio is broken down
ACTIVITY DETAILS: To see what’s new, what’s been bought and sold; to see what kind of income has been generated through mutual fund distributions, dividends paid by stocks and the interest income earned within your portfolio.
What’s special about your Summary Report?:
If you want to know how much you started out with, and where you are today, you will find this in our Summary Report that we provide to you at your reviews.
Our team tracks every dollar going in and out of your account from the time you started working with us. Because we do that, we have the information to generate your Summary Report. This is a special service that we provide because we know that you value and appreciate this snapshot of information about your accounts. Your Summary Report is important because it shows you where you’re at and it keeps us accountable to you.