Private wealth managers are those people who provide high worth investors with a sophisticated and personalized financial planning and investment management service. Most of these investors have a general question: Do private wealth managers and financial advisors add any value? Private wealth managers and financial advisors basically make sure that the investors is getting the advantage of the combination of minimum risk of investments and maximum value of return on investments (ROI). This management includes proper administration of estate planning, insurance policies, tax planning and so on.
However, the question – do private wealth managers and financial advisors add any value – have much more to it than merely that. The private wealth manages make sure that the investor has an organized financial situation and provides a fair insight into the future of the investments. Financial advisors also set up meetings with the investors time to time, in order to keep their financial situation under proper monitoring. Private wealth managers also give the investors proper advice regarding investments for long term, short term and medium term bases. They also give the investors with reminders at regular intervals for making contributions annually and other intermittent investments.
However, the question – do private wealth managers and financial advisors add any value – has to be considered from the point of view of the managers as well. They are not, in any way, responsible for the financial situation of the investors, neither so they have any duty for the same. So, there lies a huge possibility that they will try to convince the investors to invest in high value products that may or may not be appropriate for the financial situation of the concerned investor at all.