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Will You Add? - Evaluating A Money Manager
Have you ever wondered why some websites get a thousand hits a day while others don't? Well, the secret lies in something called 'website promotion'.When I mean 'website promotion' it does not require you to spend loads on money to ensure that your site stands out. In fact one can easily promote their sites and at the same time save money.1. Free LinksThere are so many sites out there which offer free links
Cost comes in the form of fees and commissions. ALL money managers charge. Cost, initially, should not be in your criteria because it often becomes the ONLY determining factor. That will skewer your thinking and could result in not having a
winning team working for you. Make the above four parameters your
primary criteria and cost will take c
Many recruiting ads and job descriptions include "knockout factors" that can actually screen out qualified sales candidates. One example is a requirement that candidates have an undergraduate degree, a graduate degree, or a degree in a specialized field of study such as Engineering. Another example is a requirement that candidates have a minimum number of years of sales experience.When my customers' recruiting ads
The information in this article won't keep future money managers honest but it will help you find the one who is right for your situation. There are four criteria you must consider before you give your money to anyone to manage.
1) Philosophy-- This is the thought theology used by the money manager to make your money grow. In other words, does (s)he focus on stocks, options, mutual funds, annuities, a blend of investment vehicles, etc.? Does this philosophy coincide with your risk tolerance? If stocks are too risky, a manager concentrating in that arena isn't for you. The philosophy also points you to their performance.
2) Performance-- We all know the markets are not stagnant. They go up, they go down. No investment manager can predict the market with absolute certainty. But, they should perform well, or even above average, in their specialty. For example, a stock focused money manager in today's market environment should have performance numbers that would make even Warren Buffet take notice. You want as long a performance record as possbile. To be fair, one market cycle should give you a decent indication of the manager's performance in his/her area(s) of expertise.
3) Process-- This is the means the manager uses to select securities for the portfolios. For example, does (s)he rely
only on in house research or does (s)he incorporate research
from outside sources? If so, who are they and on what frequency are they used?
4) Personnel-- Besides wanting to know the manager's experience, you'd be wise to learn all you could about the folks working in the office. Who actually manages the portfolio? His/her experience? How long has (s)he been in business? Who will manage your account when (s)he is out of the office, on vacation, on business?
Some people would say cost is one of the criteria. I say it is, but to a lesser degree. In over 30 years in this business, I can guarantee that paying the highest commission did not necessarily result in receiving the best advice. Paying the lowest commission did not necessarily result in receiving the worst advice.
Cost comes in the form of fees and commissions. ALL money managers charge. Cost, initially, should not be in your criteria because it often becomes the ONLY determining factor. That will skewer your thinking and could result in not having a
winning team working for you. Make the above four parameters your
primary criteria and cost will take ca
Is shopping online becoming popular and safe enough for you and I to do the vast majority of our shopping on the Internet?As I contemplated, when I initially set up my website: www.shopshopshop.org The first thought that came to mind was will they come and will they spend money? Sure people are always curious and some will visit but will they stay long enough to spend some money?Safety was the first concern of t
2) Performance-- We all know the markets are not stagnant. They go up, they go down. No investment manager can predict the market with absolute certainty. But, they should perform well, or even above average, in their specialty. For example, a stock focused money manager in today's market environment should have performance numbers that would make even Warren Buffet take notice. You want as long a performance record as possbile. To be fair, one market cycle should give you a decent indication of the manager's performance in his/her area(s) of expertise.
3) Process-- This is the means the manager uses to select securities for the portfolios. For example, does (s)he rely
only on in house research or does (s)he incorporate research
from outside sources? If so, who are they and on what frequency are they used?
4) Personnel-- Besides wanting to know the manager's experience, you'd be wise to learn all you could about the folks working in the office. Who actually manages the portfolio? His/her experience? How long has (s)he been in business? Who will manage your account when (s)he is out of the office, on vacation, on business?
Some people would say cost is one of the criteria. I say it is, but to a lesser degree. In over 30 years in this business, I can guarantee that paying the highest commission did not necessarily result in receiving the best advice. Paying the lowest commission did not necessarily result in receiving the worst advice.
Cost comes in the form of fees and commissions. ALL money managers charge. Cost, initially, should not be in your criteria because it often becomes the ONLY determining factor. That will skewer your thinking and could result in not having a
winning team working for you. Make the above four parameters your
primary criteria and cost will take c
How owners and managers hurt employee performanceMost discussions of management and leadership talk about what to do to help people be their best. Here are six ways executives and entrepreneurs routinely do the opposite.1)They don't provide a vision for the company.Today, most companies have a vision, and most of these visions wind up as nicely written statements on wooden plaques. These ar
3) Process-- This is the means the manager uses to select securities for the portfolios. For example, does (s)he rely
only on in house research or does (s)he incorporate research
from outside sources? If so, who are they and on what frequency are they used?
4) Personnel-- Besides wanting to know the manager's experience, you'd be wise to learn all you could about the folks working in the office. Who actually manages the portfolio? His/her experience? How long has (s)he been in business? Who will manage your account when (s)he is out of the office, on vacation, on business?
Some people would say cost is one of the criteria. I say it is, but to a lesser degree. In over 30 years in this business, I can guarantee that paying the highest commission did not necessarily result in receiving the best advice. Paying the lowest commission did not necessarily result in receiving the worst advice.
Cost comes in the form of fees and commissions. ALL money managers charge. Cost, initially, should not be in your criteria because it often becomes the ONLY determining factor. That will skewer your thinking and could result in not having a
winning team working for you. Make the above four parameters your
primary criteria and cost will take c
How is the health of your business? Take a quick pulse by looking at the following areas:1. Financials - key items to look at are your balance sheet, income (or profit & loss) statement and cash flow statement. Is your equity, profit margin and cash flow growing? If not, why not? If so, what plans do you have with your growing cash flow? Reinvestment? Expansion? Capital Investment? Acquisition? Do you have any major expe
from outside sources? If so, who are they and on what frequency are they used?
4) Personnel-- Besides wanting to know the manager's experience, you'd be wise to learn all you could about the folks working in the office. Who actually manages the portfolio? His/her experience? How long has (s)he been in business? Who will manage your account when (s)he is out of the office, on vacation, on business?
Some people would say cost is one of the criteria. I say it is, but to a lesser degree. In over 30 years in this business, I can guarantee that paying the highest commission did not necessarily result in receiving the best advice. Paying the lowest commission did not necessarily result in receiving the worst advice.
Cost comes in the form of fees and commissions. ALL money managers charge. Cost, initially, should not be in your criteria because it often becomes the ONLY determining factor. That will skewer your thinking and could result in not having a
winning team working for you. Make the above four parameters your
primary criteria and cost will take c
Facing the tough challenge of choosing a career can be overwhelming. With changing technology and growing international markets, there are a lot of options to choose from. The possibilities are truly endless so where does one start?Your chosen career should be a harmonious blend of your skills, education, personality and interests. A self-assessment is a great way to identify a starting place for your search. Take time t
Cost comes in the form of fees and commissions. ALL money managers charge. Cost, initially, should not be in your criteria because it often becomes the ONLY determining factor. That will skewer your thinking and could result in not having a
winning team working for you. Make the above four parameters your
primary criteria and cost will take care of itself.
How? You will be quoted a charge. If you are not comfortable with that price, negotiate. All fees and commissions are negotiable. If the manager refuses to negotiate, then and only then, make cost a member of the criteria team.
This article won't solve all of the money management problems or costs associated therewith. However, it'll at least start you thinking in the right direction and keep
your money in your pocket until you are ready to hand it over.
2004 (c) This article may not be reprinted without permission of the author who can be reached at tom-koziol@excite.com
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