Choosing the Right Portfolio Manager – 5 Factors to Consider

Posted by Chalten Fee-Only Advisors LTD. on December 31st, 2020

Your portfolio manager in Vancouver is your ally in building your wealth. With such an important task, you would want to be more diligent in screening your options. Choose a portfolio manager in Vancouver that ticks off all the right boxes in your must-have list.

To help you further narrow down your options when it comes to choosing a portfolio manager in Vancouver, here are some of the factors that you need to consider:

1. Knowledge of the market

You can’t get the best information and advice from a portfolio manager in Vancouver who has limited knowledge of the market. To find out whether they are knowledgeable and experienced in investment, find out where they get their sources and what kind of learning and training they went through to become a portfolio manager.

2. Reliability

First, find out if it is a reputable investment firm. You don’t want to deal with just one individual because you never know if and when they will bail on you. It’s better to deal with an organization or a firm. If you have a problem with their services, you can simply go to their office.

Do your research as well. Find out how reliable they are based on the testimonies of other people who have tried getting their services.

3. Transparency

You also need to look for a portfolio manager who is transparent when it comes to fees and responsibilities. You don’t want to go with a portfolio manager who will promise to do things and end up not fulfilling them.

Always get a contract or a written agreement to ensure that everything is clear when it comes to their responsibilities and what both parties should do.

4. Honest

Go with a portfolio manager who will not make empty promises such as tell you that you can triple your money in a short amount of time. There are no get-rich-quick schemes in legal ways of investing. It takes time to build your wealth, so if someone promises you large gains, chances are, it’s not true.

Manage your expectations when it comes to investing and learn to determine what is legitimate and what is not.

5. Experience

How long has the investment advisor been doing this? Make sure you learn more about their experience. Find out how many portfolios they are managing right now so you can determine whether they are fully loaded and if they have time to work with you in achieving your investment goals.

These are some of the things that you need to look for in a portfolio manager. Be sure to check their credentials as well and find out what other services they offer. You might be able to get their financial management expertise as well.

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Luis Stevenson is the author of this article. To know more about Financial Planning Vancouver BC Please visit our website: chaltenadvisors.com