The Environment Envir. I decided to edit it into an article here to preserve for the future. For most, private money managers are beyond reach. Some good AIMR stuff at the end too.
Financial comfort comes from long-term relationships.
Clients who have used their professionals for less than one year are least comfortable with their finances. Clients with relationships of more than 10 years have a comfort index of 3.54 out of 4. In Conclusion Most high net worth people don't have a great deal of time to manage their own accounts, much less learn to do it well. For them, hiring a money manager makes sense. You can go a long way with our Ask Rande discussion for getting questions answered, but often you want more.