The Advisor - Client Partnership

Office - Financial consultant reviews investments with a couple





An important partnership exists between a client and his or her advisor. To help clarify this relationship and avoid misunderstandings, the roles of both the advisor and the client are laid out below.





Advisor Responsibility

  • Knowing the client’s financial needs, goals, and changing situation
  • Maintaining confidentiality—keeping all information pertaining to the client’s finances private
  • Constructing an asset allocation strategy to match the client’s objectives
  • Selecting specific securities for the client’s portfolio
  • Frequently communicating with the client through monthly and quarterly reports, as well as through meetings
  • Rebalancing the client’s assets over time
  • Reallocating the client’s assets as circumstances change


Joint Responsibility

  • Determining the investment objectives—developing a mutual understanding as to the client’s risk tolerance and anticipated returns
  • Determining product selection—agreeing on the types of investments (mutual funds, stocks, annuities, etc.) that will be incorporated into the client’s portfolio
  • Monitoring performance
  • Determining taxable consequences—the client must inform the advisor of his or her tax situation so that the client and the advisor can build a tax-efficient portfolio


Client Responsibility

  • Providing the advisor with all financially relevant information
  • Establishing financial goals
  • Notifying the advisor of liquidity needs and expected cash flow
  • Informing the advisor of any change in objectives and financial situation
  • Trusting the advisor’s expertise


Cahill & Associates Financial Services, LLC 

75 Berlin Road, Suite 110, Cromwell, CT 06416 | P860.635.4800 | F860.635.4572

Securities and advisory services offered through Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Adviser.