The choice of a wealth manager is not done lightly. This professional will take all measures to make your savings grow in the short, medium and long term. Here are the criteria for choosing it.
You are about to go through a wealth manager to give him a management mandate following an inheritance, or because you want to build up a retirement supplement, prepare your estate without pain, anticipate the financing of your children’s studies. What should you pay attention to when choosing it?
- It must be approved by the government and professional bodies
There is no legal definition of the wealth management advisor, but some clues help to gauge the seriousness of the advice you seek. In the case of savings, the professional must join one of the four professional associations approved by the AMF.So avoid those who are not registered, the unique register of intermediaries in Insurance, Banking and Finance, which lists all those who comply with the conditions of practice. In case of dispute, this label will allow you to benefit from the insurance that it has subscribed, and those of its professional association.
- It must be multicard
The quality of management also depends on the diversity of investments available, equities , bonds, derivatives, mutual funds and SICAV , life insurance , Perp , real estate , etc. Each asset class has an approval or a professional card.
Another point: make sure you are independent from the financial institutions with which he is in contact. Those who work in ‘open architecture’ offer the largest and most diverse management universe.
- Attention to those who only talk to you about future performances
The first impression is always the good one. The same goes for wealth management advisors. Flee those who speak only of them, their exploits. These interviews borrowed a lot from psychoanalysis. “The professional will take stock of your wealth.To deliver the best advice, he will know everything about you.In addition to your investment horizon and what you can save, he must know your age, your career and family prospects, your current and past investments, etc. But as in catering, better those who cook for a long time rather than fans of fast food. Do not forget to tell him how you contacted him: by canvassing, by word of mouth or by yourself.
The management fees are not negotiable: part is paid to the platforms. Pay particular attention to outperformance fees levied when a fund exceeds the expected growth. Your manager may claim all or part of the additional winnings. Read all the clauses of the contracts that we propose to you in https://www.instagram.com/geoffreyjthompson/.