• Home
  • About
  • Contact

The Phat Startup

The Ultimate Lifestyle Blog for Entrepreneurs

  • Blog
  • Blogger Lifestyle
  • Money & Finance
  • Motivation
  • Personal Growth

Money & Finance

Patrick Dwyer Merrill Lynch Miami on How to Choose the Best Wealth Manager

We live in an economy where nobody feels truly secure. Those barely scraping by worry that they will lose their job and those who are quite comfortable worry that they will lose it all. Anyone who is wealthy, therefore, should consider enlisting the services of a wealth management agency such as Patrick Dwyer Merrill Lynch Miami, to ensure that all that hard-earned wealth doesn’t get lost.

Choosing the Best Wealth Manager According to Patrick Dwyer Merrill Lynch Miami

Working with a wealth manager means that you have a bigger chance of properly safeguarding your wealth. If you go about making investments alone, it is likely that you will fail unless you have significant investment experience yourself. By working with a wealth manager, you can also do more, such as save money on your taxes, properly plan your estate, report on your assets, manage your finances and more. Essentially, they will help you invest in the right place, finding the highest returns and lowest risks.

You must make sure that they offer all the appropriate services. Wealth managers will make many financial decisions for you. If you want more control, then you need to find a brokerage firm instead. If you are happy to give things such as asset reports and estate planning out of hands, however, then wealth managers are the way forward and they can also offer investment management services.

You do have to question whether you need a wealth manager or a financial advisor. They two have strong similarity, but important differences as well. Financial advisors are far more affordable, but their work is limited as well. You will need to make every single financial decision, often to the point of having to do things yourself. On the other hand, that also means that you regain greater control. Yet, unless you have strong financial knowledge yourself, you need to question how much control you really want to have. You also run the risk of financial managers favoring their own banks and investments, whereas wealth managers have far wider contacts across the financial world.

Do make sure you look into your wealth manager’s credentials as well. You need to make sure that they are trained and experienced and, where relevant, that they have the right licenses, registrations, and certifications. Additionally, you should look into their reputation, determining how other people have experienced their services. A good wealth manager will be more than happy to share their portfolio with you, so that you can seek out reviews and testimonials as well.

You should also consider the type of financial advice you will need, for which the wealth manager may have to be trained. Consider, for instance, the Chartered Financial Analyst, the Certified Investment Management Analyst, the Chartered Public Accountant, and the Certified Financial Planner. They have all received different training on different specifics of finances, and you must make sure that yours is experienced where you need them to be.


« How Does An Employer Choose The Correct Accountant For A Small Business?
How Do You Earn Money With DasCoin? »

About The Phat Startup

The Phat Startup was created by Mike McOwen to create a space where entrepreneur lifestyle could be focused on. We tend to live a different lifestyle than most. Entrepreneurs tend to be interested in maximizing their life, not only their profit.

Connect With Me

  • Email
  • RSS
  • Twitter
  • YouTube

Twitter Feed

Mike McOwenFollow

Mike McOwen
PhatStartupsMike McOwen@PhatStartups·
29 Dec 2017

Why is content marketing so important? Find out here: http://thephatstartup.com/money-finance/why-your-business-needs-a-content-marketing-strategy-in-2018/

Reply on Twitter 946751505146707968Retweet on Twitter 946751505146707968Like on Twitter 9467515051467079681Twitter 946751505146707968
PhatStartupsMike McOwen@PhatStartups·
9 Oct 2017

http://yescincinnati.com/

Reply on Twitter 917521630162759681Retweet on Twitter 917521630162759681Like on Twitter 9175216301627596811Twitter 917521630162759681
PhatStartupsMike McOwen@PhatStartups·
25 Sep 2017

Wow, interesting

Forbes@Forbes

Millennial men are more likely than women to default on student debt http://on.forbes.com/60148NudC

Reply on Twitter 912458136849698816Retweet on Twitter 912458136849698816Like on Twitter 9124581368496988162Twitter 912458136849698816
PhatStartupsMike McOwen@PhatStartups·
25 Sep 2017

I LOVE Toronto! Miss that place

GO Transit@GOtransit

Explore Toronto’s art scene with GO! Enjoy special late night service during Nuit Blanche on Sept 30. https://cards.twitter.com/cards/v2l8b/4ttwx

Reply on Twitter 912458028355670017Retweet on Twitter 912458028355670017Like on Twitter 912458028355670017Twitter 912458028355670017
Retweet on TwitterMike McOwen Retweeted
BuffaloSabresBuffalo Sabres@BuffaloSabres·
25 Sep 2017

Batter's up! ⚾️ Spending quality time with our friends at @MiracleLeagueWN.

4
Reply on Twitter 912457252057034754Retweet on Twitter 91245725205703475454Like on Twitter 912457252057034754319Twitter 912457252057034754
Load More...

Blog Ideas That Make Money

Dive Into Fantasy With Some Fascinating Sci-Fi Movie Picks

Tips for Building Simple & Effective Business Website

The Benefits Of Having Business Insurance

Search

Copyright © 2023 · The Phat Startup

Copyright © 2023 · Divine Theme on Genesis Framework · WordPress · Log in