How To Decide If A Wealth Manager’s Right For You

over 3 years ago11 mins

How To Decide If A Wealth Manager’s Right For You

What Is A Wealth Manager?

The benefits of a good wealth manager

1 min

Let’s face it: managing money can be tricky. Working out what you want to achieve, deciding what to invest in, sorting out your taxes, adjusting your portfolio – it’s all more than a little daunting to the uninitiated. And that’s why people often look for help from the experts – and no, we’re not talking about the gang at Finimize 😉

We’re talking about those people whose bread and butter is giving you financial advice. That might be a financial advisor, who looks at your circumstances and picks out some investments that’ll suit you. But financial advisors don’t actually manage your money: they entrust it to fund managers. If you’re looking for someone to make decisions on your behalf, a wealth manager’s what you’re after.

Not only do wealth managers offer advice tailored to your situation, they implement the plan for you from start to finish. You give them your money, and they invest it for you. Simple as that. And they’ll spruce up your finances in a variety of other ways too: setting up trusts for your children, tax planning, insurance and so on. Wealth managers offer, as they might put it, a “holistic wealth service” 🧘

Wealth management has historically been reserved for the ultra-wealthy, but competition from new products has driven down prices and made it far more accessible. So if you’re wondering how to make your money work harder for you, you’re in the right place. We’ll explain how wealth managers justify their fees and how they go about helping you, and get you to a stage where you can decide if hiring one of your own is the right way to go.

The takeaway: Wealth management is about giving you financial advice and managing your money on a daily basis.