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What to know when working with an investment management firm
April 29, 2021 at 7:00 AM
investment management firm los angeles

Truth be told, when it comes to your investments, choosing the right investment management firm in Los Angeles is one of the most important decisions you can make.

Why? Well, because these people will be the ones that will handle your money — and make more of it — for you. So it pays to do your due diligence and pick the right one in a sea of firms.

So, if you're shopping around for the right investment management firm, here are four things to keep in mind.

4 things you should know before working with an investment management firm

1. What an investment manager does

Essentially, they manage an investment portfolio on your behalf. This entails coming up with an investment strategy to meet your goals and dividing up your portfolio between a variety of investments to match.

Some managers are a one-trick pony, specializing in just this aspect of wealth management, while others offer a range of financial services to help you at different stages of your life. That's why it's helpful to know what you want out of your finances before you start your search.

2. When to work with an investment manager

An investment manager is especially helpful if you have many investment accounts that you want to bring under one roof. One person managing all your investments will be better able to leverage all your assets to reach your financial and personal goals.

Investment managers also have a depth of financial knowledge that the average person doesn't have, and they can use that to your advantage in a variety of situations. Investment management firms can be helpful at every stage of your life, both to help you monitor your portfolio and make better financial decisions moving forward.

3. Always verify their credentials

You'll also want to make sure that the investment manager you choose is capable of handling your finances for you. You wouldn't want just any person on the street perform heart surgery on you, right? Don't let just anyone manage your portfolio either.

If possible, during your initial consultation with the firm, try to speak with the person who will be actually managing your account. Get a feel for who they are and how they treat you, as well as their previous experience in investment management, their achievements, any other qualifications they have, and if they are a Certified Financial Planner or not.

This may seem like a lot of work to do, but you need to protect your assets as best you can. In the long run, you'll be glad you did.

4. Don't let price be the deciding factor

It's easy to assess investment management firms by price, especially if you're new to investing in general. At face value, most firms offer the same thing right? Well, yes and no.

In this case, you want to focus on value instead. What can each firm offer you? What are your goals and how will each one be able to meet it? How do they treat you during your consultation? Who is their ideal client? How often will they communicate with you? How do they make you feel about your investments and yourself?

This is your money, after all, and you want to work with someone who you know without a doubt will take care of you — both now and in the years ahead.

Transformational Finances is your Los Angeles-based investment management firm

Based in the heart of Los Angeles, Transformational Finances is your investment management firm you and your family need to help you prepare for the rest of your lives.

However, our services don't just end at investment planning and management. We also offer protection planning, retirement planning, tax planning, and estate planning as well.

Additionally, with each client, we go through a unique process that helps to uncover your true goals and values, and our team then creates a personalized plan to help you reach these goals.

If you have any questions about the services I offer, feel free to reach out anytime by calling 310-407-2824. On the other hand, if you're ready to get started, schedule your free consultation today by filling out the contact form on our website.