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-   -   Some one to do the investments for me... (wealth management) (http://www.thefinanceforums.com/showthread.php?t=3725)

gsilbers 05-05-2010 02:32 PM

Some one to do the investments for me... (wealth management)
 
Seems investing should be an easier thing to get into right? ;) :confused:

im not into investing, daytrading, etc. but have the money to do it. i tried looking for wealth manager in the good banks but the minumun sometimes is too high. 100k for wells fargo, charles shwab etc. fidelity is 50k which is good.

there is also the option of the broker to choose a portfolio and let it run w/o changing it unless i say so.

the point is that im trying to find a good broker (who can give a good portfolio) in the good firms like fidelity, vanguard, wells fargo etc which have been at the top of investment banking firms on different reviews.

the thing is that i don't know which one to choose. so i am thinking give the same amount to 3 different banks and who's portfolio has the best return ill add the rest to the money there. i dont mind paying some of the fees involved in the trading as long that in the long run i get the best return.

does that sound reasonable?

is it better to go with a wealth manager whom he will do the trading and decisions for me at a fixed % of the overall investment? (1%)

i just dont wanna worrying about this but its hard to find someone to trust.

bobb1953 05-09-2010 09:49 PM

Re: Some one to do the investments for me... (wealth management)
 
Not all Wealth Managers have high minimums, many do not. Be cautious about trading costs and commissions. In addition, actively managed mutual funds, those most often offered by banks, insurance agents, etc. have inordinately high tax costs which can further reduce returns. If you can move towards the independent advisory market where you'll get a fiduciary focus that keeps your goals and priorities at the forefront. If you need some help, let me know.

David Morson 05-13-2010 06:18 AM

Re: Some one to do the investments for me... (wealth management)
 
Well wealth management is a good option but I also suggest to be aware of such agents and try to get as much knowledge of the market and overall investment as you can by yourself and this is the only way to get succeeded in this field.

seenathkumar 05-13-2010 09:58 AM

Re: Some one to do the investments for me... (wealth management)
 
I think you should use some professional wealth management company. As well you should learn some investment criteria which will help you in feature. :)

Coast7 05-17-2010 07:22 PM

Re: Some one to do the investments for me... (wealth management)
 
I am in LA as well and understand it may be tough to get the attention and service of a Personal Wealth Manager if the amount is 100-150 and know you are getting what is best for you. An independent local advisor is your best bet. Someone that will sit down with you and actually look at everything you have going and design a plan you can put on cruise control.

C9Consulting 05-21-2010 02:26 PM

Re: Some one to do the investments for me... (wealth management)
 
I would suggest a wealth manager that is an registered independent advisor...they are the kinds of people that can actually build a relationship with you. and they also aren't obligated to only invest your money into funds that are affiliated with the company they work for.

desinet1 05-29-2010 12:08 AM

Re: Some one to do the investments for me... (wealth management)
 
Lots of firms do portfolio management for people with high net worth. Try them.


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