Managing multiple investments

Holding a diverse portfolio is recommended by most financial advisers, but when it comes to managing a range of different investments it makes sense to work with one adviser team.

It’s always reassuring to work with someone who knows you, understands your immediate financial needs and longer-term goals.

That person will have dug a little deeper than most, asked the questions that help to paint the bigger picture. It’s what Logic Wealth Planning has done with clients for many years.

Understanding what people want from their money, investments and lifestyle helps to assemble the best possible portfolio for a client.

Having multiple advisers from different companies can only add to the confusion and, potentially, see your portfolio work against you. Here’s why…

Consistency is key for investors

Work with several financial advisers and you will spread your risk, but with completely different people. What one adviser believes might suit your profile could be completely different from another.

We are all very different.

Not only do you need to keep tabs on more account managers, you are putting your trust in a range of people. Unless they have identical profiles and likeminded goals, they might have vastly different objective themselves.

One adviser always works best. It might take time, but finding someone who fully understands you, and what you want from five, ten and twenty years of investments is always preferable.

When your goals change, or when your circumstances alter, there’s one conversation to be had. The same applies to annual reviews.

It’s so much easier and more productive to have an eye on all areas of your financial life courtesy of one trusted contact.

Avoid duplicate investments

When you develop a trusted relationship you put your faith into that personal connection. It’s true of clients and advisors. You take financial advice based on your goals and risk profile.

However, if the investment funds chosen by a spread of advisers contain some or multiple examples of the same or similar stocks, well, you multiply your exposure.

Keeping to one adviser allows you to know exactly what investments are being maintained on your behalf. You check one portfolio and communicate with one adviser.

Unknowingly duplicating investments across advisers puts your asset mix at risk. It’s always better to know exactly where you and your money stands. 

Be economical with time and money

Anything done on scale tends to offer discounts or better value for money. This applies to financial management.

Deal with multiple advisers from different firms and you will have to negotiate different fees, varying commissions and a range of early exit or withdrawal charges. 

The “all eggs in one basket” proverb doesn’t really apply to financial advice. A good independent financial adviser would never recommend investing everything in one stock. There will always be a balanced portfolio developed alongside your needs and risk profile.

The job of the adviser is to help you to adapt, change and refine the mix over time as you and your family enter different phases of life.

Your time is precious, so keeping tabs on a range of investments recommended and managed by different adviser firms does not make sense.

Your eggs will never be in one basket. They will be carefully selected, individually wrapped and packed in appropriate compartments to keep them safe.

That’s what your financial adviser will do.  

Is Logic Wealth Planning right for you ?

Logic Wealth Planning offers independent financial advice whatever stage of life you are at. If you’d like to see if we’re the right fit for you, let’s have a no-obligation informal chat. 

In the first instance, please call us on 0808 1234 321 or email to arrange a convenient time to chat.

Please be aware the value of investments or income from them can fall as well as rise. We are here to help you make informed decisions as you put important things in place for you and your family.

* Logic Wealth Planning provides independent financial advice in Manchester, Bury, Rochdale, Cheshire, and the surrounding area, but not limited to the region.