nt step in the wealth management process is to set a strategy. This is attained subsequent to the client assessing his goals. In setting a strategy an investor will compare fundamental investment principles to a client's goals. The client may consider five key fundamental principles when developing his portfolio strategy: Asset allocation, diversification, planning, discipline, and patience (Groppelli, Nikbakht 401). This step also helps the client to select appropriate asset classes and distributions. A portfolio's asset mix or asset allocation refers to the percentages that are invested in various asset classes
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