Wealth management: The advisor portfolio
Just like our investments, we must also diversify our advisor risk. Who is advising us? Who is managing what for us? How can we ensure that all is well with us and our affairs? These are questions to consider. Let’s start counting. Who are the people and entities we require? Here are some broad suggestions.
Bank & Relationship manager: It is good to have two banks to deal with. One bank account could be used for financial planning, while the other could be for general expenses or other matters.
Chartered Accountant: We cannot have two here but if you are running a private limited company you could have one for your company accounts and one for your personal accounts. For self employed and partnerships, you obviously need just one CA.
Financial Planner: You just need this person. He is your family’s financial doctor and capable of giving you a holistic view. He