Wealth and portfolio managers :
WEALTH MANAGEMENT
Wealth and portfolio managers :
The power of a specialised duo
By Jaco Prinsloo , PPS Financial Planner
Creating a successful personal wealth management plan is no easy task , one many people often shy away from . A first question might be : who should assist in creating such a plan – a wealth manager or a portfolio manager ? Do I need one or the other or maybe even both ? As much as wealth and portfolio managers focus on different aspects of wealth creation , each plays a critical role in navigating the complex world of finance . There should also not even be a question of which one to involve . The question is , rather , who will be the best team – consisting of both wealth and portfolio managers – to guide one to a sustainable , long-term wealth management plan ?
DIFFERENT ROLES , IMPORTANT PARTNERSHIP
When one considers the impact a wealth and portfolio manager could have on one ’ s wealth creation plan , it is important to understand what each of these specialists does . Wealth managers are tasked with understanding their client ’ s overall financial situation , goals and risk tolerance . They work closely with the client to develop a comprehensive financial plan that considers short- and long-term objectives , along with any specific preferences or concerns . This plan serves as a roadmap , guiding clients towards their desired outcomes . It identifies the strategic asset allocation needed to meet the client ’ s desired financial outcomes and considers local and global economic , inflation and market dynamics trends .
Jaco Prinsloo
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We believe in the power of these partnerships to create a cohesive , personalised financial strategy that aligns with each member ’ s unique goals and circumstances .
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Any good financial plan will have an investment strategy . This is where portfolio managers step in . Portfolio managers play a crucial role in implementing such an investment strategy as they have a profound understanding of financial markets and various investment instruments . They use this to construct a diversified portfolio tailored to the client ’ s risk tolerance and objectives . This involves selecting the right asset managers for optimal risk diversification and continuously monitoring and adjusting the portfolio to stay aligned with the client ’ s goals . Other portfolio manager responsibilities include conducting due diligence and meeting regularly with asset managers to fine-tune the asset mix , ensuring it reflects the strategic asset allocation while allowing
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