Tips for Picking a Wealth Management Firm

Leading wealth advisors help their clients identify financial goals and map out a plan for achieving them. If you have decided to hire a wealth management firm to run your portfolio then you better do it wisely. Choosing a wealth management firm is one of the most important decisions that can change the fate of your company so it is necessary to take this decision carefully. Read some tips for picking a wealth management firm below :

• Verify credentials: while choosing a firm, insist on meeting the advisor who will be handling your account. Sometimes you have an interview with one person and find out later that someone else is working on your account. Meet your advisor and ask him or her about their background, where they have worked before this if they are certified financial planner and what qualifications they have.

• There are different means in which financial planners accept payment. Some charge commission based on the products you buy from them while others charge a set rate based on the size of your portfolio. Those who earn commission on what they sell to you will be focused on earning the extra money than making sure that your needs are being satisfied. Hence, hire a leading wealth advisor in India who is interested in your portfolio’s growth.

• Don't let the price be the sole basis for selection of the wealth management services in India. Focus on value instead of price. Cheaper is not better if there no value to the service. Inquire how often your advisor will have meetings with you or how you will stay informed about your investments.

• Compare the kinds of products and services different firms offer. Make sure overall investment strategy of your wealth management aligns with your business goals. Enquire if your wealth management services include only investing advice or also assistance with things like taxes or estate planning.

• Availability of your wealth manager also plays an important role. It is not necessary to meet them on daily basis but you need to be in touch with them regularly. Ask how often they meet their clients and how they prefer to communicate. Your wealth manager should be available to discuss if you have concerns about a particular investment or questions about the fee.

• Have a look at past history of the leading wealth advisors in India. Check if they have received any special recognition or awards. Doing a background check is worth your time and prevents you from taking a wrong decision.