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Hidden wealth is undiscovered riches that you have. Being an Ultra High Net Worth Individual (UHNI), it is important to have a hidden wealth consultant that can be an investment advisor.
The role of this financial advisor or consultant is vital as he can help you to come across related challenges effortlessly from any geography. They emerge handy, especially when the market is uncertain and changes frequently. As they are able to differentiate financial instruments, it becomes easier to embrace the idea that is profitable.
Simply put, you need to hire a proficient guide before investing in shares and securities. It’s better not to wait for the time when you would no longer be able to manage your wealth because of overburdening goals. Hire the one from the beginning to get off any type of compromises later.
But, who do you trust?
Here are some easy tips to recognise who could be loyal consultant for managing your hidden wealth:
- Select the Interested Professional
A wealth manager aims at pushing products to attract the best returns. Certainly, he is incentivized for downplaying the risks in shares or other financial products. In short, he is the one who can convert a normal return into overwhelming benefits.
On the flip side, there are some other ones who suggest taking more of the risky shares and hence, align frequent needs for money. In this case, the commission for selling these securities or shares won’t be delivered.
So, select the one who is interested in abiding by these terms.
- Know about Values that He Gets
You need to determine what values he gets to his customers. An ideal wealth consultant puts his heart and soul in getting more and more values to the customers.
To know about it, you can check what his customers have to say about his work & turnaround time. Determine how he earns incentives while managing overall responsibilities. Request him to share the cost break-up for his services in detail to get assured of no hidden charges. The number of customers who rely on his advisory can also help you to finalise the decision: if he is loyal.
- Determine His Versatility
Check how many dimensions he has in his portfolio. Some NRI consultants, for instance, are the master of the stock market, but with a little clue of how to manage other securities and shares or financial products. The professionals have all resources to take care of filing tax returns & tracking dividend payments in a timely and efficient manner.
An all-rounder advisor would have cutting edge profile that shows how capable he is in managing real estate property, succession plans, IT issues, rental income and other activities. He would have a familiarity to manage unconventional assets like bullion, jewellery, antiques and artworks.
- Ask about Experience
It is essential to know how many market cycles they have witnessed. This is the best thing to identify if he is experienced. An inexperienced wealth manager can never be able to face off real-time challenges with efficiency. Keep this point into account when you choose the one.
- Ability to Determine Pressing & Unique Needs
Immigrants often focus on saving their time and energy on achieving goals. Multiplying wealth is not their concern because they are keener on weighing their reputation over returns. Simply put, it means that your wealth consultant should be able to determine inner values and pressing requirements.
An ideal one takes the time to understand your values and needs. With an ability to see your pain points and concerns, he will live up to your expectations whenever you approach him with a high expectation about your hidden assets.
- Long-Term Vision for Wealth
The professional wealth advisors come with a vision for a long time. His experience lets him to consider hidden wealth as a legacy that is to be transitioned to the next generation. While taking care of it, he will have some exceptional financial plans related to your child’s education, wedding and the arrival of a new-born. Simply put, he personalizes the experience that interferes with your personal life.
- Dare to Disagree
A yes-man is hard to bear, as he won’t have courage to come with an unbiased approach. You need the one who would be able to cautiously take decisions on managing your assets. The professional and expert ones believe in building a relationship that is pillared on trust. The fear of getting fired at disagreement can never ensure one to make unbiased decisions. So, choose who is able to disagree if the situation is accordingly.
Services 2 NRI is the one that has these all capacities to ensure values and the best advisory about managing your wealth effectively. Contact us to share your queries or difficulties if you have any.
