Newspaper article The Journal (Newcastle, England)

Lay Solid Foundations with an Asset Specialist

Newspaper article The Journal (Newcastle, England)

Lay Solid Foundations with an Asset Specialist

Article excerpt

Byline: By Jonathan Brown

Anyone thinking of building a home probably has a vision of how it should look, but working with an architect can help crystallize ideas, priorities and desires to ensure that the completed building meets objectives and fulfils aspirations.

The same idea applies to asset management. Before deciding to use a particular investment solution, it makes sense to discuss your goals and objectives with an investment specialist.

Having selected an investment adviser whom you trust, some questions that you should discuss together are ( whether growing or preserving wealth is your most important consideration, how much risk are you able and willing to accept, are you planning any major expenditure in the near future, what are your most important tax considerations?

You should also discuss how much time you want to devote to managing your investments. Do you enjoy learning about new trends and investment instruments?

Only when these and other questions have been answered can the right solution be selected.

Financial markets are constantly evolving and the relationship between markets changes daily. The frequency and pace of change presents challenges for private investors trying to keep abreast of the developments and implications. For investors that have neither the time nor the inclination to keep track of their portfolio on a daily basis, a discretionary mandate may be an ideal solution.

This is appropriate for those who wish to delegate investment decisions, thereby taking advantage of a bank or investment manager's best ideas and ability to move quickly.

For others that wish to take a more active role in the decision-making process, an advisory mandate may be appropriate.

Here, the adviser will contact the client before any action is taken and the reason for the proposed purchase or sale is explained, and it is the client who makes the final decision. …

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