what is private client wealth management?
An Investment Counselor, Portfolio Manager, Intuitional Investment Manager or Private Client Money Manager makes discretionary investment decisions, for your assets based upon established goals and constraints. Typically, it is more personalized, better quality advice than is available through a broker, bank, or mutual fund, but at less cost. However, unlike Stock Brokers and Mutual Fund Companies, Investment Counselors usually have a minimum account size that they will accept. Today these minimums are as low as $250,000. WHY CONSIDER AN INVESTMENT COUNSELOR INSTEAD OF A BROKER FOR INVESTMENT DECISIONS? Investment Councilors charge a fee and don’t charge a commission every time there is a transaction. Therefore, their interests are aligned with the client’s long-term goals instead of being motivated to create a lot of activity. In addition, hidden commission such as strip bond spreads can cost clients without their even being aware. Independence is also an important consideration. Unde
Related Questions
- Has the client mix in wealth management changed at all in terms of individuals, institutions and small businesses?
- What are the Principles of Private Wealth Management developed by LGA and why are they important?
- What makes The Friesen Group & GMP Private Client different from other wealth management firms?
