Many of our clients self-direct their investments using discount brokerage firms or low-cost mutual funds. Some of our clients have done fabulously well in handling their investments; however, almost to a person, they do not believe anybody else in their family has the skill to handle it themselves. One option is to consider “retiring” from handling your own investments. Wouldn’t it be better for you to pick the financial planner that your family will work with, since you are the financially astute person in the family? Do you want to leave your family to make this choice by themselves?
The plus-side of aging is retirement. We get to retire from doing certain things that have been our jobs for a long time. Maybe it’s also time to retire from handling your investments. There are two major ways to do that. One is to select a financial advisor with whom you begin to work, you get comfortable with that person, and they learn your investment strategies and goals, so they can continue your strategy. The other is to create a trust, or turn over the financial management of your existing trust, to a trust company whose investment managers allow you to retire from investing.
We work with a variety of financial planners and trust companies of all kinds and would be happy to recommend someone to you that we believe would be a good fit for you.
David M. Pyke
This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, specific tax, legal or accounting advice. We can only give specific advice upon consulting directly with you and reviewing your exact situation.
