Start an Wealth and Investment Management company
There are so many investment options for money these days that it is very difficult to decide on one without the advice of a professional in the field. A mistake can result in the loss of capital for a novice investor who, guided by bad advice or as a result of his lack of experience, has no way of knowing what the best option or path to take would have been. For these reasons, setting up a Wealth and Investment Management Company is a venture that is in great demand today and has a great future ahead of it, especially considering that new investment alternatives are increasingly being generated, both physically and virtually.
Keywords: Wealth and Investment Management
Advantages of Setting Up an Asset Management and Investment Company
Here are the advantages of starting a business that manages other people’s investments and assets:
Independent Business: as it is a micro-enterprise, it is not necessary to have the support of partners, so you will be able to set up an Asset and Investment Management Company on your own, being the only responsible, and therefore beneficiary, of the project.
Low costs: since it is not necessary to rent a premises, you can work from home with the help of a computer and an Internet connection. In case you decide to rent an office, the cost of it will not be at all excessive. Another option is to share a space with other professionals, such as an accounting firm or a house that rents out independent rooms for offices.
Wide Clientele: Finally, a very important advantage to consider is that this is a business with a vast amount of potential clients; all of them stranded, in search of a financial advisor who will advise them what to do with their funds to obtain the greatest benefit.
What Services Does a Financial Advisor Offer?
When we decide to set up a Wealth and Investment Management Company, we must include in the business plan the services we will offer and how we will implement them.
An entrepreneur in charge of such a project has the function of advising his clients about the best option in which to invest their money. To achieve this, he will have to analyze in detail the client’s financial situation: how much capital he has, in what currency he has it, where it comes from, if he has more capital available in case the investment does not work out, etc.
It is very important to let the client know that an investment, although it is a decision based on a real situation and is analyzed in detail, is not a guarantee of success. Therefore, the first advice a client should receive is not to invest all of his money, but rather to reserve a part of it for his daily life in case the business does not work out.
Finally, when setting up a Wealth and Investment Management Company, a client should never be unaware that investments are made on changing securities, so a deal that is excellent today may lead to total failure tomorrow.
Investment Costs for Setting up your Wealth and Investment Management Company
Just as you will be advising potential investors, the advice begins with you at the moment you make the decision to set up your wealth and investment management company. Because you cannot advise others on investments if you have not first followed the steps required in estimating investment costs. As we briefly mentioned above, the costs for your management company are usually related to renting a space, but if you decide to save costs in this regard and have a studio space in your home, you can start in this space. In addition, you will need a minimum of a computer system with internet access. This equipment is currently indispensable in any business you want to start. You also need to consider the advertising costs of your investment company. So it is very important to consider in this sense, different sources, including cards, brochures, flyers and of course, your website. Another cost that you should incorporate is a printer and also office supplies, as well as some furniture.
Requirements to start in Wealth and Investment Management
If you have in mind to work in wealth management and investments helping others to invest their money, the first thing to keep in mind is a direct access to people with a certain economic level.
Wealth management is done for a minority of people, precisely those who have capital available to invest. That is why it is so important to have a network of contacts and a portfolio of clients. If you don’t have one, you can
If you don’t have one, it can take a long time for the investor to get a professional space.
It is also very important to have a broad knowledge of the activity to be performed. Although it is not a requirement to work in that, it is advisable to get certified as a European Financial Advisor (EFA).
This title was launched in Spain, as a recommendation of the European Union. The purpose is to disseminate the skills of these professionals, who have obtained the degree of knowledge and skills, offering high levels of quality and potential protection from less qualified professionals.
Advantages of having Wealth and Investment Management
The great advantage of setting up a financial advice business for individuals is the reduced cost. Because with only a computer and a good Internet connection is enough to start.
It is also not necessary to rent an office, you can easily start the activity from home, although anyway the rent of an office is usually not very expensive if you share facilities with other professionals.
HGM Capital, is a successful company in the integral management of real estate assets with its center of operations in the city of Barcelona. It is coordinated by a multidisciplinary team and has an objective, the control of the assets that are managed and the maximization of the value through proposals of improvements and use of all national and international resources so that the commercialization is always in a high range of the market.
Another successful company is Naxis Gestión de Patrimonio e Inversiones SL, which is dedicated to the purchase and sale of real estate on their own account, mainly dedicated to the acquisition by any title of rural and urban properties, construction and administration, reform, promotion, holding, operation and lease of these assets and its total or partial sale, as the client’s convenience.
Problems that can arise when starting a property management company
There is now a lot of information on the web, which supports entrepreneurial investors. Your advice has to be one that makes it clear to the client that they want to come back and also send you other clients. If it doesn’t get you hooked, it will be difficult to get back to you.
Final recommendations for your management company to succeed
Make your business plan in advance before setting up your investment company. In addition, study in detail the profile of an investment advisor beforehand. Do some tests with your family and friends to understand the process and ensure the success in communication with your clients, which is key to the success of this business.