Who is ultimately responsible for Your Wealth Plc and some simple steps to take to managing your wealth.
“If it sounds too good to be true, it probably is” – many of us invest in assets relying on others to perform the basic due diligence – as the herd mentality is reassuring.
Humans are generally split into two groups; those that don’t want to do the due diligence and those that don’t know how to. We should be comforted by the fact that you know more than you think you do, but first we need to do a little homework on managing your wealth, and this entails knowing your needs, desires and risk tolerance and leverage to inform your wealth professionals.
Many wealthy individuals look for free advice, free consultations and free lunches etc. sadly “there is nothing in life for free.”
We hope to uncover how to look at the cost of advice when managing your wealth and decide whether it’s worth it with our relative performance views. To help you question whether the product the best one for you, or the most worthwhile one for the seller.
It is important to note that Wealth Management is still a business. To form a mutually beneficial partnership – it is important to understand who gets paid for what and to know their true incentives in recommending products and services.
Like it or not you need to assume the role of the CEO of Your Wealth Plc, to be the person who learns enough to avoid being too trusting and who refuses to be deluded. Ultimately, managing your wealth cannot be delegated, it is your responsibility.
You can start this journey by thinking about the following:
· Can wealth management be totally delegated - It's time to take shared responsibility.
· Become the CEO of your own wealth - Learn enough to ask the right questions
· Are you too time shy to do your own investment due diligence?
ARQ is here to support you in your personal journey.