Portfolio Management

3 min read

What should I expect to pay for Investment Management Services? What can I expect from a Portfolio Manager? These are questions clients often ask. Several years ago, we went looking for an Investment Management Firm to refer our clients to.

What did we ask for?

  • Independent fee for service professional Portfolio Management.
  • Client accounts designed specifically for each client, accounts that would recognize client risk tolerance, liquidity needs, values and investment preferences.
  • A firm that would be interested in our clients even if they didn’t have a million or more dollars to invest.
  • A firm that would have low fees, where ideally the fees would be tax deductible and could include ongoing third party monitoring and review.

Portfolio Management

What did we find out?

  • Most of the big firms weren’t interested in a different model.

What did we do?

  • We spoke to independent advisors we knew and had known for years. People whose personal values, professionalism, communication style, track record and commitment to clients matched our values, integrity and client profiles.
  • We developed a model, based on fees of no more than 1.5% of assets managed, tax deductible for non-registered accounts, to include payment of our services for on-going monitoring and review.

What is the process?

  • When we have clients with Financial Planning Estate BC needs who wish to be referred for Portfolio Management services, we provide an initial 3 way telephone meeting with ourselves, the clients and the Portfolio Manager.
    • We introduce the client to the Portfolio Manager.
    • The Portfolio Manager provides a summary of the process and services they offer.
    • When the client needs match with the services offered, and the client wishes to proceed, regulatory paperwork is exchanged and an investment account is opened.
    • Several times per year, we have 3 way telephone meetings with the client and the Portfolio Manager.
    • After each meeting a Summary of Discussion document is prepared and sent to the client and the Portfolio Manager, ensuring everyone has the same understanding.

When did we set this up?

  • Ten years ago, in 2008.

What do our clients say?

  • Thank you. I am so pleased to have the benefit of your independent professional advice.
  • I am happy my Portfolio Manager is looking after all of this, so I don’t have to worry about it.
  • I am satisfied with our returns within our managed risk profile.
  • Thank you, I appreciate your referral to Portfolio Management services, especially in these uncertain times.
  • These telephone reviews are great, they help me learn more and understand better.
  • The Summary of Discussion follow up is so helpful, and I really like that we are all on the same page. We often refer back to the summary when we need to remember something.
  • We really appreciate the comprehensive financial planning services you provide through your on-going monitoring and review process.
  • We value the low, tax deductible fee and the services it includes.
  • You make everything so easy, and I love the way it keeps us on track.

Article Source :- https://lornaeastmanfinancial.com/portfolio-management/

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king kone 2
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