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What is an Investment Policy Statement?

An Investment Policy Statement (IPS) is a written document that outlines important issues such as goals, policies and procedures as agreed to by both advisor and client for the purpose of managing investments.  An Investment Policy Statement is required when a fiduciary relationship exists and is regularly cited as a best practice in modern wealth management.


What is the role of an Investment Policy Statement?


An Investment Policy Statement provides advisors and investors with a written document to make prudent and rational decisions, helping to eliminate emotional or behavioral factors that can lead to improper decision-making.  It establishes a plan to confront complex issues and identifies a systematic discipline for decision-making.  An effective IPS should define 4 key things:

  1. Objectives – Set clear and definable expectations, risk tolerance, return objectives and guidelines for investments.
  2. Asset Allocation Policy – Create a structure and identify the investment asset classes used to achieve a diversified portfolio and determine how those assets are best allocated toward larger goals.
  3. Management Procedures – Provide a guide for selecting, monitoring and evaluating the performance of the invested assets and how to appropriately manage changes.
  4. Communication Procedures – Establish a clear protocol for communicating both processes and objectives among all parties involved, while assigning responsibility for implementation.

What are the benefits of an Investment Policy Statement?


  • You’ll have the advantage of clarity with your clients regarding their expectations and goals.  
  • Your clients will better understand what to expect in the advisory relationship and you’ll be better prepared to meet their needs.  
  • You'll provide the type of consistency in process, recommendations and decision-making that encourages clients to have confidence in and accept the advisor’s actions. 


Why should I use IPS AdvisorPro®?

  1. Gain a competitive edgeIPS AdvisorPro provides you with a discussion guide and questionnaire that can be used with clients during the information gathering stage of creating an Investment Policy Statement.  With IPS AdvisorPro, you’ll know that you have all the details needed to create the perfect IPS for your clients every time
  2. Save timeBuilding an Investment Policy Statement is a drain on an advisor’s time. IPS AdvisorPro incorporates valuable tools for measuring risk tolerance and defining asset allocations so that you don’t have to use multiple systems to create the right fit for your practice. 
  3. Save money -  Word document Investment Policy Statements can also lead to easily overlooked errors or missed client issues and can often lead to expensive outside consultants.  IPS AdvisorPro creates a repeatable process that helps eliminate errors and mitigate risk.

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