Want to secure your future financially, but don’t have the time or the skill to manage money matters well? A customized money management service can be your biggest ally, by delivering this to you at a fixed annual fee. It not only manages your money but also provides you with a detailed plan to reach your financial goals, personalized investment solutions, developing and managing your assets, and even helping you retire early so that you can do whatever you want with your time, and much more.
Apart from ensuring that your spending and saving are in sync, a money management service helps build financial security by setting timelines for the accomplishment of your various goals, making investments in synch with them, and keeping track of your investments, to name a few. Let’s delve into five reasons why you should opt for a personalized money management plan.
Expertise:
A qualified money manager has the ability to do a comprehensive evaluation of your financial health. Based on your needs, goals, and risk appetite, a money manager develops a money management plan that helps you ascribe a financial value to your life goals, strikes a balance between spending and saving, ensures that the savings are deployed into investments across various types of financial products, monitors the allocation on an ongoing basis, to ensure that these are always aligned with your life and financial goals. In short, a good money manager helps you achieve your financial goals. He/she also helps you plan your taxes as well. In a nutshell, you have access to a range of services that cover almost everything to do with managing your money.
Strategic Planning of Goals:
A good money management program helps in creating achievable future goals and objectives which are based on your current financial status. It then continues to calibrate this – making necessary changes based on events – in tandem with your ongoing financial status, and helps ensure that you give yourself the best chance of achieving your life goals. In fact, it ensures that even contingencies are planned for – something that may not occur to you in the normal course!
Multiple-Resources:
Apart from having a very good understanding of you – your finances, aspirations, risk profile etc. – financial planners have their own research teams, specialized tools, and analytical data to help you make appropriate investment decisions for your portfolio, which work in your best interests. They review your current holdings on an ongoing basis against the backdrop of your life-events and/or events in the financial markets, and have the know-how to help you make better decisions that makes your money work for you.
Innovative Tools & Technology:
When you work with a qualified money manager, your finances are well-structured, and you receive various analytical reports/dashboards on an ongoing basis that help you keep track of your investments, savings and spends. A good money manager has the necessary tools that allow you a very good insight into your own finances at all points of time, from providing other regular information like savings and investment performances etc. to checking your net worth at any time to allowing you to understand where you are visavis your stated goals. These insights help you stay focused as well as initiate actions on time, so that you are always moving forward in your journey towards achieving your goals.
Regular Reviews:
All money matters should be viewed against the context at a point of time. It is not enough to merely make investments and let them be. Want to know how your investments are performing and whether your wealth has grown across the various asset categories? With regular reviews that your money manager will set up, you will have complete clarity about your net worth and your overall financial health. These reviews not only help you in monitoring the progress being made in attaining your financial goals but also allow helps in course correction or adjustments to the plan if needed.
As you have seen, there are many benefits in opting for a money management program. Just remember to go for a reputed, qualified money manager who has considerable experience doing this and you will be well on your way to achieving your financial goals. In the end, it is not about any advice, it is about receiving advice that works best for you.
