As we kick off the new year, many of us are setting health goals—whether it’s getting in better shape or improving our overall wellness. Just like those personal health goals, it’s the perfect time to assess the health of your investments and reflect on your portfolio’s performance. With fresh goals in mind for the year ahead, it’s important to review your financial strategy to help ensure it’s aligned with your objectives, helping you stay on track toward long-term financial well-being, just as you would for your personal health.

How is your portfolio doing? Do you feel your asset allocations are well-positioned to meet your goals and objectives?

If you haven’t made a habit of scheduling a check-up to manage your wealth’s health, an annual review is a great place to start. However, if an annual review (or check-up) is already part of your plan, there are other ways to level up how you manage and preserve your wealth’s health. One area of growing importance we are frequently asked about is cybersecurity, a topic where certain preventative measures can make a big difference.

Get your cybersecurity check-ups.

Just as a physician would advise taking preventive steps to safeguard our health, the same principle applies to preserving our wealth. In today’s digital world, we face ever-increasing risks of online theft and scams, making protecting personal information more critical than ever. As wealth managers, our close relationships with clients are crucial in helping protect their assets. These trusted relationships develop over time, allowing us to deeply understand each client’s unique needs, goals, and risk tolerances. This insight enables us to anticipate potential threats and detect unusual activity or vulnerabilities early, communicating them quickly to our clients.

This approach helps us address issues proactively, preventing small concerns from becoming significant problems.

Here are some best practices to help protect your personal information:

  1. Use strong, unique passwords
  2. Enable two-factor authentication (2FA)
  3. Keep software up to date
  4. Use antivirus and anti-malware software
  5. Be cautious with emails and links
  6. Use secure connections
  7. Monitor your accounts regularly
  8. Be wary of public Wi-Fi
  9. Limit personal information sharing
  10. Back up important data
  11. Educate yourself about current scams

Keeping these guidelines handy and reviewing them regularly can provide peace of mind about safeguarding your personal information and wealth.

How is your portfolio’s health?

One way to assess the health of your portfolio is to monitor market trends throughout the year and evaluate how your portfolio performs in relation to those trends. Ask yourself: Is your portfolio delivering an efficient return for the risk taken? We believe this strategy works best when wealth managers are accessible and in regular communication, actively helping to preserve and manage their clients’ portfolios to help ensure long-term financial health.

When was your last portfolio check-up?

While every client is unique in their communication preferences, we believe a wealth manager who regularly ‘takes the temperature’ of your portfolio helps provide a clearer picture of your wealth’s health in the short term, allowing for necessary adjustments as issues arise. This helps keep your finances strongly positioned to aid in meeting your goals and objectives in the long term.

For more tips, strategies, and market perspectives, check out our “Market Insights” archive.

Poljak Group Wealth Management is a team with Steward Partners in Shreveport, LA. The views expressed herein are those of the author and may not necessarily reflect the views of Steward Partners Investment Solutions, LLC member FINRA/SIPC, or its affiliates. Information contained herein has been obtained from sources considered to be reliable, but we do not guarantee their accuracy or completeness. Any strategies and/or investments referenced may not be suitable for all investors. Past Performance is no guarantee of future success. You should consult with your tax advisor for matters involving taxation and tax planning.

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