A Candid Dialog with a Wealth Manager
October 28, 2010 by Answer Provider
I had a candid conversation with my neighbor yesterday. He is a Wealth Manager at a wealth management firm in the city. We had an extended discussion in regards to the financial system on the whole as well as the stock markets. He stated that he is seeing extra folks return to the inventory markets for a small portion of their monetary portfolio. He stated that he’s proceeding cautiously and advising his purchasers to do the same. He feels that we’ll get things rotated supplied the common individual is prepared to begin investing again. He stated that the monetary markets are all about perception and what individuals believe will happen in the future.
It’s troublesome to plan for retirement when so many people lost half of their retirement funds by means of the plummeting inventory market of the past few years. This is why, I consider, that it is very important have many eggs in your basket and not to depend on just one form of curiosity bearing account. I’ve cash in all kinds of various investment and savings options. This way when one goes down, I have many others which might be steady or going up. I’m also out there for the lengthy haul so I anticipate to come out of it simply fine.
As a receptionist at a monetary advisory agency, I obtain many phone calls from our present customers and potentially new prospects who need more information about our firm. I’ve seen that the variety of calls has been increasing over the past couple of months as people are able to get again into the markets. The top Wealth Manager on the firm has even started working weekends with a view to keep up with demand. He talked about to me yesterday that we could also be returning to regular as people grow to be extra assured in the markets. I’m hoping that he is right in his assumption. I want to see our firm be as busy as we used to be a couple of years back.