My dad’s wealth manager put my entire $50K in savings into one investment. Is he setting me up for disaster?
The benefit of hiring someone to manage your money is getting expert investment advice that protects your portfolio from market volatility while fueling its growth. But, what if you’re paying for advice you don’t agree with?
Say you’ve decided to use your father’s wealth manager to oversee your own money, only they decide to put your entire portfolio into a single investment. That may seem like a suboptimal choice. And it could be a risky bet.
So it’s important to keep tabs on your portfolio, even if you’re paying someone else to do the work. And it’s equally important to make sure your investments are diversified.
Whether this one investment of yours poses a risk depends on whether it’s truly a single asset,…
