If you don't have the time or the knowledge to invest your capital, you need a personal money manager. This is a professional with many years of education, training, and experience who specializes in helping individuals like you look after a portfolio of securities. When you choose a money manager, you set the investment objectives based on your own cash needs, financial resources, time horizon, and tax exposure. Then your adviser can select the portfolio strategies and securities that match your own circumstances and preferences. The way you allocate your portfolio among stocks, bonds, and cash reserves may have the greatest impact on performance of any investment decision.
Mistakes can be costly.
Experts generally recommend spreading your portfolio among at least 12 different industry groups. Over the years, you should adjust your asset allocation, investment diversification, and individual holdings to fit your evolving financial needs. We recommend you seriously consider using a professional adviser. Whether or not you choose an active or passive role in your investment activity, it is important to have at least one trusted adviser to review your strategies and plan.