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To some extent, all client portfolios are customized because smart advisors know that one-size-fits-all isn’t going to get the job done in terms of client satisfaction and performance. Even model portfolios can and do contain bespoke elements.
Adding customization is integral at a time when the investing landscape is increasingly complex and as clients are more engaged, arriving with greater expectations. From those points, it can be inferred advisors need the right tools to increase customization and meet client demands. One form of that assistance is WisdomTree Portfolio Solutions.
We covered that new offering from the exchange traded funds issuer last month, noting that one of its key pillars is WisdomTree Portfolio Consultations. Those consultations are as implied. Advisors, regardless of practice size, can work with someone from the WisdomTree team to access a range of solutions, including topics such as practice growth and broader market views.
In terms of enhancing customization for clients, WisdomTree Portfolio Consultations contain multiple components, but a straight-forward. It starts with understanding a portfolio’s goals and mandates. From there, a detailed analysis of the portfolio is performed to examine asset allocation, risk and possible duplication. From there, more personalization can be implemented.
Leveraging Portfolio Consultations for More Personalization
By building on the foundation of understanding a portfolio’s current construction and mandates, a deeper dive into personalization can be performed. Advisors don’t need to worry about added legwork because a WisdomTree “army” is at the ready.
“Once the existing portfolio review is complete, our team meets and creates custom, actionable ideas for the advisor’s portfolio,” notes Lauren Pfendt, senior analyst of portfolio solutions at WisdomTree. “Drawing on the insights of WisdomTree’s global research team, our suggestions are open-architecture and accompanied by detailed commentary that explains the rationale behind each change. The team builds a custom report for the advisor, displaying how the adjustments would affect the portfolio’s overall exposure, performance, volatility and risk. This comprehensive report helps the advisor understand the impact of each change and how it aligns with their stated goals.”
After that step, review is necessary and it’s a collaborative process between the advisor and WisdomTree. Think of it as collaboration enhancing customization.
“During this collaborative session, our team presents the portfolio analysis report, answers any questions, and engages in an open discussion with the advisor,” adds Pfendt. “When an advisor raises concerns or requests changes, our team carefully listens and makes any necessary adjustments. This interactive step fosters an open exchange of ideas, with the goal that the final portfolio meets the expectations of both the advisor and the end client.”
Wait, There’s More
The collaborative review doesn’t end the process. Advisors’ customization efforts and decision-making processes can be enhanced by ongoing support from WisdomTree. Translation: WisdomTree portfolio consultations don’t leave advisors hanging.
A team stands ready for inquiries and support, confirming the consultations aren’t one-off events.
“Advisors also benefit from ongoing access to WisdomTree’s online tools, educational resources and market insights,” concludes Pfendt. “From in-depth fund and portfolio comparison tools to frequent blog posts from our thought leaders, WisdomTree’s online resources provide a wealth of information, empowering advisors to better serve their clients.
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