You have worked hard for your money year in and year out. At this point in time, you have built a sizable nest egg dedicated to your future goals. You are seeking a competent wealth manager to ensure that this money is protected and preserved.
You have some knowledge about money matters and wealth management, but you realize that you are not a professional in these fields. You are seeking out competent and honest professional help. Perhaps it’s time to establish a shortlist of potential leaders in wealth management.
Wealth Managers: Their Core Job
The first thing on your mind is to make sure your idea of what a quality wealth manager does is consistent with your best interests.
You want an experienced and trustworthy person who will be able to objectively assist you through the maze of markets and investments, and keep your financial ship away from the storms of the investment seas.
The core job of a great wealth manager is this: To assist you in making sound financial decisions. They work with you as a partner in understanding your financial goals and personal situation. They help you craft a plan that takes these concerns into account. In some cases, they can execute the plan on your behalf, if you wish.
Pretenders in the Area of Wealth Management
Just like in most other businesses, there are pretenders and sharks out there ready to take advantage of you rather than help you. Sometimes people pose as competent wealth managers but really aren’t.
It pays to do due diligence when looking for a wealth management partner. Take time to check out their credentials. Steer clear if they promise outsized returns. Moreover, make sure they’ve been in business for many years and can provide a list of references.
Experience and Education: Keys of Quality Wealth Managers
During the process of looking for quality wealth advisors, feel absolutely free to grill them on their credentials and core competencies. The good ones will be more than pleased to share with you where they were educated, how long they have been in business, and their track record for their clients.
A wealth advisor you will want to partner with will have the following possess the following characteristics:
- A passion for finance and investing,
- A positive yet reality-based outlook,
- Excellent analytical ability,
- A holistic mindset regarding the economic landscape,
- The ability to communicate in easy-to-understand terms, and
- An alignment of their investment philosophy with yours.