diversify and function as a fiduciary.
by anthony glomski
your $5 million high-net-worth practice
the first thing you and your clients should understand as investors looking to make smart financial decisions is this: the broad asset classes you choose to own (such as stocks, bonds, alternatives, real estate, private equity and so on) and the percentage of your household wealth that you allocate to each of those asset classes will have a greater impact on your future investment returns than any other decision you make – including which individual stocks you buy.
more: preserving wealth is a different mindset | do you know your client’s total picture? | what level of advice do entrepreneurs need? | three approaches to investment consulting | the role of the personal cfo | three components of collaborative wealth management | cashing out: your business clients’ five big issues
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this means your first question as intelligent investors must be: how should i allocate my assets among the major asset categories?
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