Hello everyone, a person interested in managing a considerable amount of money has contacted me.What diligence questions will you ask you?In addition, what kind of agreement do I need to sign to be legal?Thank you.
Hello everyone, a person interested in managing a considerable amount of money has contacted me.What diligence questions will you ask you?In addition, what kind of agreement do I need to sign to be legal?Thank you.
Maybe it's not very wise to ask something like that in a forum.You need a professional who knows how to proceed.Consult with one of the great four companies;They will probably know how to structure something like that.Of course, prepare to pay, because their services are nothing cheap.
A good lawyer specialized only in matters of investment advisors or brokers will explain everything in a free telephone consultation.If you are only going to manage a separately managed account (SMA
I do not advise you to handle money for other people.I wouldn't even do so if it were a fund of one billion.I prefer to live with few dollars a day than to make money for someone else.If that person knew how to do it, I wouldn't need you.I'm sorry if my advice is not what you wanted to hear, but it's an honest advice.Have a good day.Give yourself while they are relaxed to see better.
Your advice is certainly valid, thank you for sharing your opinion!
Obviously, you will charge that person to manage his money.What's wrong with making money with the money of others?
HMMMM ... And the fund managers don't win billions in commissions?
Managing foreign money is not as simple as it seems.Not only are you assuming a huge financial responsibility, but also emotional.If something goes wrong, no matter how good your intentions are, that person could blame yourself for everything.In addition, have you considered the impact it could have on your personal life?Money management, especially large amounts, is accompanied by a lot of stress.Do not underestimate the load that could mean.
I do not understand why there is so much fear of managing money from others.The great advisors do it daily and win millions.The important thing is that you are professional, follow the laws and have a good legal agreement.If this opportunity came to you, you might take advantage of it.Not everyone has the ability to generate confidence for someone to give them their money.
Thanks for the perspective, you are right that it is a great responsibility.I am definitely investigating more before taking the next step.
Posting Permissions
Reply With Quote