Independent Money Managers

Independent Money Managers

You must have ever heard the term independent money managers tossed around. However, do you know what actually the term means and why you need to care about it? Well, nowadays here investment is very important in your life, having someone that can help you to create the best investment decision is also crucial. At this point, money manager comes as a solution for every individual who needs someone to rely on for certain financial goal.

What Is an Independent Money Manager?

Before we are going too far, it will be better to understand what an independent money manager is first. An independent money manager can be a person or an independent firm that offers a service to manage the securities portfolio of a client that can be an individual or an institutional investor.

Normally, a money manager will employ professional with various backgrounds to help them offering the best solution for his/her clients. Moreover, there are some possible services offered by a money manager for their clients. Here are some of the best services offered by independent money managers that we can expect.

  • Make sure the clients well-informed. First of all, a money manager will make sure that his/her client well-informed and up to date about a range of aspect of the marketplace and how it affects their assets. Then, all the information gathered is supposed to help a decision maker process. As a result, the best investment decision can be made.
  • Monitor the clients’ assets. Second, a money manager also provides an ability to monitor and manage his/her clients’ assets. It is also possible for a money manager to make a trade for particular assets to get a great deal of profit. In this case, the money manager will suggest us when to sell certain asset so that we can get high profit from our asset.
  • Provide clients’ portfolio activity report. Next, a money manager also provides a report of clients’ portfolio activity. In this case, the report is made every month so that the assessment of anything can be made when needed. If there must be a change or retreat, it can be made as soon as it is found.
  • Offer personalized service . Since independent money managers tend to give a service that suits the clients’ goal on financial matter, it is possible for them to give personalized service which is regarding the clients’ individual needs which can be different from one to another.
  • Create proper strategy to reach financial goal. Then, a money manager also has ability to develop a proper way or strategy that is helpful to reach client’s financial goal. The strategy is usually dependent on how much the clients are willing to take a risk and also the amount of safety calculated.

Why Is an Independent Money Manager Necessary?

Well, there are actually some reasons why you need to take an independent money manager into account for helping you with your financial goal. When your portfolio seems to never meet the expectation you have and when your retirement fund seems to be vague, it is actually the best time to call a money manager to help you dealing with the matter.

It is because a money manager has resources and expertise that make it potential for him/her to help you creating the best decision for your financial life especially your investment portfolio. So, there is no time to keep wondering. You may need to find the best service around and start your investment life for a better one.

How to Pick the Best Independent Money Manager Around?

Now that you realized the necessity of independent money managers in your financial life, you may be interested to get the best money manager around to work with. If it is your first time, it must be better for you to learn some factors that you need to pay attention on.

Here are some of the ways you can follow to pick the best money manager out there.

  1. Make use of your social network. Your friends, relative and peers are possible to help you find the right firm or person to rely on as your money manager. You can also ask around a community of people who has the same business like you to name a recommendation for the right money manager to work with.
  1. Don’t forget your accountant, lawyer or other professional advisors. If you have an accountant, lawyer or other professional advisors to give you advise, it is important for you to ask them first for the right decision. You can ask your tax adviser, your estate lawyer or others to give you recommendation for a money manager.
  1. Think about what you really need. Before you decide to choose one from many independent money managers, it will be better if you define first what you actually need. It is because what you need will be helpful to give you the best decision of certain money manager to work with.
  1. Understand the cost of money manager’s fee. When you have found a certain money service provider you need; it is always essential to understand about the cost that the provider will charge on your. You need to ask them about how they will charge you for their services. Different provider may have different rate of fee, so you must learn from it before deciding.
  1. Evaluate results. It is always important to think about the result for your last consideration. Keeping track of their historical record can be crucial, but it is not the one and only to evaluate all of their actual works. You can use it as a criterion, but it is not the one and only thing to think about.

Those are some of the ways that you can take into account as you are trying to find the best independent money managers. Now, you can start to find the best one to work with and get them help you for the best investment portfolio. Good luck!



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