Are you struggling to keep up with your investments? Overburdened with the everyday tasks needed to maintain, much less grow, your wealth? If so, asset management could be the solution you’re looking for.
But institutions that offer this service are extremely selective. That means you might not make the cut. When you’re ready to learn why this service is so valuable and whether you have a chance of qualifying, read on.
Who Qualifies for Asset Management?
What if you’re paying into your 401K, you own your own home, and you’re renting out the apartment above your garage? Would you need an asset management strategy? Probably not.
If, on the other hand, you also invest in stocks, bonds, real estate, and tech startups, you would likely qualify for some form of investment management. The more money that’s on the table, the stronger a candidate you become.
But if you thought this type of investment management was only for the privately wealthy, think again. Sure, it caters to tech billionaires, but it also caters to corporations and institutional investors. Colleges, pensions, and even our own Federal Highway Administration use asset management.
What is Asset Management?
According to the Office of the Comptroller of the Currency, an asset manager provides financial services or products for a fee. It either comes in the form of a flat rate or a commission.
Another word for the type of big money management that we’re talking about is an investment portfolio. Many portfolios contain a variety of investments:
- Mutual funds
- Real Estate
As such, you can find investment managers who will help you invest broadly. Others, such as the folks over at Bellwether AM, specialize in a single aspect of your investments, in this case, real estate. Others might focus on currencies, foreign markets, or any other aspect of your portfolio.
As such, these financial managers have fiduciary responsibilities to you. They’re required to make decisions about your investments on your behalf. They must do so in good faith or face jail time.
Benefits of Portfolio Management
Keeping track of all your assets is one of your manager’s first jobs. That’s especially helpful for institutions or large companies. Liquid assets, fixed assets, where are they, and how are they being used?
Since amortization rates change, a portfolio manager will check your rates to ensure your statements are correct. Your manager will also locate risks. As such, they can inform you of dangers, which you might be unaware.
Now that you know the enormous benefits of asset management, you can decide whether it’s right for you. Begin by reviewing your current investment strategy. Then decide whether the benefits of hiring a professional to manage your assets would outweigh the costs.
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