[quote=AN][quote=flu]Ok, can you recommend folks a good money manager who’s willing to manage someone starting out…..Say less than $100k? It’s a serious question. Because if so, i take it back and I’ll pass the word on to folks I know who are starting out who don’t want to do it themselves.
I haven’t seen any money managers that are good willing to manage an asset pool less $100k..Some require a minimum of $250k, which is more than what most average joe’s have.[/quote]I’ll second this. I can use a good money manager who have a proven track record of beating the index and have a minimum <$50k. I'm being serious as well. The reason for <$50k is because I want to start small to see if their performance can be trusted before I put in more.[/quote]
Your mileage may vary...
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...
