Meeting with prospective Portfolio Managers or Investment Advisors can initially feel intimidating, particularly if you have limited investment experience. But really, this should be a bit like a job interview that you are conducting. Since you are delegating this part of your financial life to someone else, your values and priorities must align. Don’t be worried about asking difficult questions and be confident that you deserve the answers. This is the hard-earned savings that you’ve worked for and you should never apologize for doing your due diligence when looking at your investment options.
At the end of the first meeting, you should have learned a few important, basic facts. These include information about the Portfolio Manager personally – what are their business values? What is their investment philosophy? What do they think is the most important part of a client relationship? These soft questions will often give you a much better sense of who this person is and if you will work well together. Other more technical questions are important too. These might include, how long they have worked in the industry and what type of education and credentials they have? How are they licensed? How do they get paid? What do their services include and how often will you connect?
Any serious investment advisor will either offer up this information before you ask or will be more than happy to entertain all of your questions. Please don’t be shy and if you sense resistance from the advisor, you should be able to just walk away and consider other opportunities. Leaving this meeting feeling comfortable and informed is a good sign that you’ll be able to have a successful, long-term relationship with your new Portfolio Manager.
Maria Dawes, Portfolio Manager
Capstone Private Wealth