A growing number of people are looking for smart ways to invest their money so that they can finally stop working for their money and, instead, have their money finally work for them. This great “transformation” of thinking has also created a new tide of changes in the way investments are made for optimal wealth generation.
Nowadays, there are professionals who lend their experience and expertise in wealth management and it’s definitely no surprise that they are greatly in demand. After the global economic recession, people learned that if there are available ways for them to secure their finances better, they should take advantage of them and “strike while the iron is hot,” as some like to say. An outsourced chief investment officer is one of these professionals that can definitely help especially in buying and selling securities as a source of sole or additional income. When it comes to choosing a CIO, Harry Rady, the chief executive of Rady Asset Management, definitely knows the trade secrets and the important qualities to look for. As one of the most in-demand CIOs in the industry, from his personal experience and his own observations, he knows what clients truly need and what a CIO has to deliver to guarantee success. So to help out those who are looking for a CIO or firm to guide them, he’s come up with a reliable method of determining which ones are worth hiring for the job.1. Check investment performance record – According to Rady, it’s imperative for trustees to demand to see this mainly for comparison purposes. Although a stellar record does not always guarantee success in the future, it’s reassuring to know that there’s a higher likelihood for success since there’s already a record of having done things right.
2. Look into the reputation of the CIO – There are so many crooks out there and the recession definitely brought them to the “limelight.” Having said that, looking into the CIO’s or firm’s reputation will reveal so much about the quality of work and the values they uphold. When it comes to financial matters, reputation is what determines whether an organization or personality can be trusted or not.
3. Determine the fee cost and find out how transparent the firm or the professional is with regards to the breakdown of costs – Since it’s a service you will be paying for, it’s always smart to see how every aspect of the service that has monetary equivalent is justified.
4. Inquire about the investment process followed – Naturally, you would want every part of it to be handled in the most ethical and socially responsible way. Find out if the organization the professional belongs to has a socially responsible investment policy and if ethical funds are available to trustees who are interested in them.
5. And lastly, do find out about the CIO’s other clients – A variety of clients that take on different investments reveals the knowledge and ability of the CIO or firm in handling various policies, which means that they truly are worth hiring and are authorities in the industry.
About the author: Sarah Miller is a business consultant and a writer. She strongly believes that by sharing articles regarding various industries and business people, she can help lots of consumers and clients out there to make informative decisions in their lives in terms of buying products and services. She writes in behalf of harryradynews.com
