5 Important Questions to Ask a Potential Financial Life Manager

Hello, high-net-worth individuals (HNWIs)! Are you ready to build a robust, diverse portfolio that can withstand market fluctuations? Great! A certified financial life manager is exactly who you should turn to!

You are not hiring a financial planning manager just to manage wealth but for meaningful insights, strategies, and tailored recommendations that can maximise returns and reduce risk. So, there’s no need for wild guessing or hoping your investments will perform well! You have the expert to get on the right track!

But before you hire a financial advisor, below are a few important questions and their answers to help you have a clear understanding of portfolio diversification.

But isn’t diversification just about investing in different assets?

Not exactly. Although diversification means spreading one’s investments across different asset types, it also goes beyond that concept. A skilled financial life manager can show you how to diversify within asset classes. You will be guided in choosing different industries within stocks or opting for a mix of government and corporate bonds. The financial life manager may also consider factors such as geography, risk tolerance, and, of course, your personal goals to create a truly customised portfolio. So, you see, it’s a lot of work!

Can’t I Diversify on My Own?

Of course, why not? But having the right financial life manager by your side brings something extra. What extra? Well, they have access to tools, analytics, and market insights that you might not. A certified financial life manager has the right perspectives on current economic conditions, future trends, and investment opportunities. So, managing a large sum of money needs state-of-the-art perspectives! 

The financial life manager will keep a close eye on your portfolio, making necessary adjustments just as the market shifts—all while keeping your long-term goals in mind. So, hiring a professional financial life manager is worth it!

Financial Investment managers

How Can a Financial Life Manager Help Me with Risk Management?

HNWIs need a trustworthy financial life manager, like a navigator, during turbulent times. These experts know when to hold steady, when to pivot or how to balance potential gains with acceptable levels of risk. They diversify the portfolio with intention, for example, blending high-growth stocks with stable assets. They know the tricks and strategies to minimise losses when the market turns. In short, they can be a valuable ally in protecting your wealth. They can guide you to have a blend of high-growth stocks from the booming real estate sector mixed with government bonds for stability.

Moreover, the financial life manager will help you take advantage of global opportunities. The skilled financial life manager can introduce you to global investment opportunities, whether in emerging markets or established economies. This international perspective can also reduce risk and strengthen your portfolio’s resilience. This will open up new possibilities for growth.

What About Tax Implications? 

Yes, tax implications can be a real headache! But the positive news is that a financial life manager will be there to save more money on taxes. 

When you strategically manage your assets, you can avoid unnecessary tax burdens, so your gains are more likely to stay with you. Financial life managers are well-versed in the tax implications of various investment strategies, so they can guide you toward tax-efficient options. They could suggest options like investing in municipal bonds that may offer tax-free interest (which can reduce your overall tax obligations). These financial life managers may guide you on strategies like tax-loss harvesting, where you can sell underperforming stocks to offset gains in other areas of your portfolio.

How Often Will a Financial Life Manager Review and Adjust My Portfolio?

Well, when it comes to proactive financial life managers, they usually monitor the high net worth portfolio regularly and make adjustments as needed. They constantly assess market conditions, find out the emerging trends, and also balance your investments to align with your goals. 

So, you get ongoing support from the expert to ensure your portfolio stays adaptable, strong and positioned for success.

So, Are You Ready to Diversify Your Portfolio?

At Expat Wealth At Work, we guide expatriates and HNWIs to diversify portfolios for stable financial goals. We do not entertain a one-size-fits-all approach. Our certified financial life managers come up with tailored wealth management solutions to meet individuals’ unique needs. We serve clients in the UAE, Qatar, Saudi Arabia, Europe, Malaysia, Thailand and the rest of the world.

Another big reason to hire us is that we do not ask for commissions; we follow a performance fee-only structure.

Visit our website for more details! Or, contact us to discuss your needs!