Adelaide, August 21, 2018: Business owners who have been investing for long terms and have a too large portfolio that they need to turn the responsibility to a professional should consider looking for a wealth management firm. Wealth managers identify their client’s financial goals and design a solid investment plan accordingly to achieve those goals. If your business portfolio is too broad to handle on your own, have a look at the following tips that will help you choose the right persons for wealth management in Adelaide.

• Identify the client base

Generally, wealth management firms serve investors who own a sizeable asset base. However, all firms don’t take the same approach for all clients. When some wealth managers exclusively serve millionaires, others may prefer to work with small and medium-sized businesses that have assets between $50,000 and $500,000. Now, before choosing a firm, better ask the manager about the kinds of clients his company has been dealing with. This way, you can get an idea about where their expertise lies.

• Compare their services and products

If you are in search of a wealth manager, you must have a clear idea of what you want them to do to help your business. Additionally, you should also have some ideas about what services and products are being offered by different firms. For example, some wealth management and accounting firms in Adelaide offer specialise services on taxes or estate planning while others only provide investing advice. Now, you need to pay close attention to the entire investment strategy of the firm to ensure that it aligns with your business goals.

• Check out the pricing

When you are hiring a wealth manager, it is obvious that you have to pay him. In general, these firms get paid in two ways – assigning service-specific fees or charging commissions on the products they offer. Now, if you don’t want to involve into the sales pitch provided by the wealth manager, you can consider choosing a fee-only advisor.

• Verify their track record

Wealth management firms tend to control millions or even billions of dollars in assets, but it does not alone indicate how well they serve their clients. Before finalising a wealth manager, you should check a handful of firms and verify their history. You need to check positive reviews, special awards or recognition achieved by the firm.