THE REAL SECRET OF THE RICH

If you’ve ever suspected that the rich have access to a closely guarded investment secret the rest of us aren’t privy to, you’re right. But it may not be what you think. There’s no magic investing formula that’s revealed after you make your first million, or a network of sophisticated insider trading intelligence that’s hidden from the rest of us. Rather the rich have access to the rarefied world of the private investment counsel. In this world your investments are personally handled by highly qualified and responsive investing experts, who carefully follow your direction and report back regularly. And believe it or not, the fees are often much lower than what you’re paying now.

Hiring an investment counsel is often considered the next logical step after you’ve worked with a broker or financial planner to grow your portfolio to seven figures. But if you haven’t heard of them, we’re not surprised. Most purposely keep a low profile. In their world, business is built on word-of-mouth, performance speaks for itself, and aggressive advertising would be unseemly. “It’s not a service that’s sold,” explains a senior member of one firm. “It’s a service that’s bought."

Despite their air of exclusivity, if you’re interested in seeing what it feels like to get this financial red carpet treatment, we have good news. You can now gain access to some private investment counsel firms with an investment portfolio of as little as $500,000. That’s still a hefty nest egg, but well within reach of many middle class Canadians approaching retirement age. “It’s a misconception that it’s just for the super-wealthy,” says Warren MacKenzie, president of Weigh House Investor Services of Toronto, which helps investors select private investment counsel. Many firms are willing to take you on for even less than their stated minimums if they see a lot of potential to grow your portfolio.


What sets the counsel apart



Read the full article:



http://ca.finance.yahoo.com/personal-finance/article/moneysense/1542/the-real-secret-of-the-rich

David Aston
MoneySense
Thursday, April 22, 2010