If you’re looking for a registered investment advisor (RIA) but don’t know where to start, look no further. The Wall Street Journal releases a list of the Top 40 wealth management firms annually. The rankings are based on U.S high-net-worth private-client assets under management (AUM) in accounts worth over $5 million.
There are a lot of big companies in the world managing a lot of money.
When individuals and institutions invest money, they often will do so with the help of an asset management company, which can take control of those investments and make money for everyone involved, assuming that markets cooperate.
Best Investment Management Company
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An asset management company is involved in investing and managing portfolios of mutual funds and other securities. In short, these firms take the capital from individuals or institutions and put it to work for them. Some asset management companies are geared toward very wealthy individuals who hand over full control of their investments to portfolio managers.
Why Choose a Wealth Management Firm?
Investment firm fees or commissions may be higher than with discount brokers, but overall costs are often lower because with a full-service investment firm, you aren’t left shooting in the dark.
Whether it’s time to rollover a 401k into an IRA, start an IRA or college fund, or build an investment account simply to invest for your future, investors have a growing number of options. Online brokers have taken the market by storm, offering low costs trades, technical charts, webinars, and online education centers to help investors learn the ropes, research, and trade.
How to Understand Your Investment Goals
Every investor has his or her own wealth management goals, balancing risk against safety, or the chance to earn outpaced gains against dividend income and steady appreciation. This is where a full-service investment firm can really shine for investors by pointing the way to the best solution or basket of options that can help you realize your investment goals.
Many asset managers will only deal with large institutions, such as other corporations, big non-profits, or associations. But many of the most recognizable firms will offer services for average investors. In many cases, asset management firms make money by charging fees based on the number of assets they manage, though some will charge flat fees.
These companies often have other business lines other than asset management, including brokerage services. In some cases, asset management makes up a fraction of the company’s revenue. This means that they often partner with each other in various ways, despite being competitors.
For example, one asset management firm may use its online brokerage platform to allow investors to buy and sell the mutual funds of a competing company.
- Quick Look: The Best Investment Firms
- Why Choose a Wealth Management Firm?
- How to Understand Your Investment Goals
- What to Look for in an Investment or Wealth Management Firm
- Drawbacks of Using an Investment or Wealth Management Firm
- Best Wealth Management and Investment Firms
- Final Thoughts
What to Look for in an Investment or Wealth Management Firm
1. Overall customer satisfaction
No investment firm can be a perfect fit for every investor, but the best investment firms focus their efforts on the areas most important to their clients, providing top-notch service at the acceptable expense of higher commissions or fees than discount brokers.
2. Dedicated financial advisors or teams
Much of the attraction for a full-service investment firm is the availability of dedicated financial advisors or teams, people who understand your investment goals, listen to your concerns, and who often know you by name.
3. Customer service and support options
The availability of multiple support options for account questions anytime of day or night has become a must-have feature, with the understanding that advisors are only available during business hours.
4. Reasonable commissions and fees
Expect to pay more when investing with a full service investment firm as opposed to a discount broker. However, if fees or commissions are too high, investment returns can be adversely affected by the headwind created in trading or management costs.
5. Information resources and investor research tools
Investors with a healthy curiosity will want to do their own research or learn more about investments they’ve either made or are considering.
6. Variety of products and investment vehicles
The number of investment vehicles has increased dramatically in recent years and the best full-service brokers will provide options to round out your portfolio with investment options for nearly any type of asset class.
7. Investment performance
For fully-managed accounts, investment performance becomes a big part of an investment firm’s report card for investors.
8. Additional wealth management or estate planning solutions
Sometimes investments are only part of the picture. The availability of trusts, life insurance, and estate planning options can help turn gains into a legacy of lasting wealth.
Global Trade Investment Solutions 