You obtained names and referrals for your potential investment professional. You’ve met two or three of them. You’ve conducted your due diligence. Now you’re ready to make your choice.
Hopefully, the process went smoothly and you’re happy with the findings. It truly is a big step, so I summarize what is possible when you consider the services of a portfolio manager.
“I suggest choosing your long-term investor profile based on personal comfort.”
To me, investing is comparable to building a home. First, finalize the blueprint, then order the lumber. Similarly, I first get to know the family in detail, then I tailor the personalized solutions.
A comprehensive service guides your wealth to realize family goals and objectives. Objective advice always places your best interests first.
My approach is to:
- Listen to what is important to you about the finances.
- Prepare realistic retirement projections vis-à-vis your goals.
- Focus on managing the affects of investment risks and volatility.
- Find your comfortable balance between preservation and growth.
- Ballpark your taxable income projections.
- Implement your sensible plan of action, custom designed to your needs.
- Make logical and methodical decisions without emotion or bias.
- Rebalance your portfolio according to asset mix targets.
- Provide periodic contact, reviews and communication.
I suggest choosing your long-term investor profile based on personal comfort. The balanced asset mix is a favourite for a wide range of investors.
|Investor Profile||Sample Asset Mix||Typical Age Group||Potential Return/Year|
|Stocks||Bonds & Cash|
|Preservation||20%||80%||70 plus||Up to 4%|
|Income||40%||60%||60 plus||4% to 6%|
|Balanced||50%||50%||40 to 80||5% to 7%|
|Growth||60%||40%||30 to 70||6% to 9%|
|Aggressive||80%||20%||Up to 50||10% to 15%|
|Speculative||100%||0%||Up to 40||15% plus|
Comprehensive wealth management services typically provide ongoing advice in planning, managing, monitoring and reporting on six family wealth components, as you require:
- Retirement planning and your business.
- Risk management and investing.
- Income tax and estate planning.
In addition, clients appreciate these distinct features:
- Providing coordinated “family wealth” advice, not just investing services.
- Portfolio management and financial planning integrated as one service.
- “Discretionary” portfolio manager designation is the highest achievable.
- Professional fees are fully disclosed, transparent and deductible for taxable accounts.
- Investing over time following the “pension plan” style of management.
- Using low cost, tax-friendly, non-proprietary investments.
Your due diligence seeks to identify a thorough ongoing service, customizable to personal needs. A comprehensive service that delivers unique values to your family.