If you and your Financial Advisor decide that a separately managed account is appropriate for you, your Financial Advisor will guide you through an ongoing consulting process designed to lead you toward your investing goals and keep your investment strategy on track.

The consulting process may include the following steps:

1. Setting goals and guidelines
You and your Financial Advisor can work together to identify your financial goals and expectations. Then, these goals may be translated into a long-term investment plan, or Investment Policy Statement.

2. Determining asset allocation
Based on your guidelines and objectives, your Financial Advisor typically recommends an asset allocation. It may include stocks, bonds, or any number of other investments, depending on your individual situation.

3. Selecting investment managers
Your Financial Advisor may recommend specific portfolio managers who will manage your portfolio's assets in an appropriate style.

4. Managing and monitoring your accounts
Your Financial Advisor continues to monitor your portfolio's performance and may want to meet with you on a regular basis to review performance statements together.

5. Ongoing personal service
In addition to periodic performance reviews, your Financial Advisor may contact you to discuss market shifts and other developments that could affect your portfolio.