During the difficult times of the stock market, recognizing the qualities of a good portfolio manager is of utmost importance. Moving from a large financial institution where the focus is more towards production makes realize how much my current customers appreciate the human touch in relation to their financial situation. I had comments like: ‘With you, I’m not left to myself. I know what’s going on and I have an action plan. Other; ‘We have regular contacts, we are not a number’.
According to Morningstar, a good portfolio manager is someone who has a good investment strategy and believes in it even if the stock market fluctuates wildly. Avoiding big losses signals the manager’s attention to the assets of his clients. A long history of good performance relative to peers is another indication. All this is not the only qualities that a good portfolio manager needs to have.
Mark Chow, Senior Analyst at Morningstar Inc., stipulates that communication is not to be neglected, especially now with what we are experiencing in the stock markets. This period of uncertainty engenders feelings that make us doubt our financial stability. Revisiting your financial plan in the off-peak period reaffirms the long-term strategy and reassures you of the future viability of your decisions. Asking for a second opinion by another investment firm may educate you on how your investments are managed.
I invite you to come see our website. I hope you will come out of this tumultuous time without too much scratching. Talking to informed people softens the situation and helps to understand this propensity of the stock market.
Looking forward to hearing from you.