Money Manager/Financial Advisor
A money manager or financial advisor handles specific needs. They may sometimes also be called by other names. Basically they handle larger portfolios such as those investors dealing with large sums of money to be invested. Money managers are trained to take responsibility for investing and managing large portfolios. A good money manager will be expensive but for obvious reasons, well worth it.
You will have to consider the different types of brokers and choose one that meets your needs the best. It will of course, be up to you which one you decide to choose but whatever you choose you should make sure that you follow the proper precautions to protect yourself when trading.
Make sure the broker you choose is covered by the Securities Investor Protection Corporation which will protect your assets in a brokerage account for up to $500,000 in the event that the firm fails. This insurance is very important, especially with so many online brokerage firms these days.
Remember that the insurance does not cover you in the event of trading losses, even if the broker suggested the trades. You are still ultimately responsible for those losses. Make sure that whoever you decide, you feel comfortable with them and that you can trust them to handle something as sensitive and your money and investments.
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