When I tried to do the same thing, the first thing they wanted to know is what is your total net worth and asset allocation. And rightfully so, they wanted to do a health check on where you are at and where they think that want to take you.
You can lie to them and say you only have $50k, but then you wouldn’t be off to a very good start with someone you’re suppose to trust.
Or you can tell them you only want them to manage $50k and never anything more..At which point, they might tell you to take a hike or they might do it anyway for a trial period with the understanding it must be more in the future…[/quote]I have no problem to let him/her manage more in the future if the net return exceeds the market. If they’re that confident in their performance capability, I don’t see why they wouldn’t start with a low limit to hook in the younger crowd who have high income growth but doesn’t have $100k in cash.
