Professional money managers

If your retirement savings is 250,000 or more, you should consider professional money management. A professional money manager will handle your investment account according to your instructions. You will pay a fee for this service, but the benefits may be well worth the cost. 

A professional manager has the time, training, and temperament to manage your assets successfully—qualities you may not possess. A trained professional takes the emotionality out of investing, knows the appropriate investment vehicles to achieve your goals, and can manage risk within your portfolio by choosing the proper balance of investment choices. This service will cost from one to two percent of your account balance annually. 

When choosing a professional money manager, become acquainted with the management team that will handle your account. Look at how long they ve been in business, the size of accounts they handle, and their track record. You want someone who handles accounts similar to yours and has demonstrated success. Also, find out about coverage under the Securities Investor Protection Corporation (SIPC) and any additional protection provided through insurance. 

It takes capital, time, and professional advice to build a good individual portfolio. Some people are better suited to do this than others. Keeping your money hard at work with good results is not easy, but if you choose to manage your own investments, here are some tips that should prove helpful. 

Tip 1 Stay within your comfort zone. To most people, sleep is more important than gambling for a higher return on an investment. Your comfort zone may move toward the conservative in the years ahead. 

---

Choose a qualified, experienced professional as your financial advisor if you plan to manage your own assets. Otherwise, select a professional money manager. 

Bond funds offer monthly income, portfolio diversification, and professional money management. A bond fund is usually made up of individual bonds similar in maturity, quality, and type of issuer, as such, buying into a bond fund is a good way for the small investor to tap into a specific sector or objective without committing a large exposure. 

You have worked hard to accumulate and protect your estate, so you probably want to pass much of it to your heirs or beneficiaries. Protecting your estate normally moves you into a higher level of money management and often requires the advice of professionals—tax specialists, lawyers, or trust officers. Keep in mind that although you can obtain good information from an accountant or trust officer, only a lawyer can draft a will. To avoid extra expenses, you may want to go directly to an attorney. 

PSMJ. 1980. Getting More Money. Professional Services Management Journal, June. 

It is important for you, the graduating student, to understand the principles presented in this chapter at the beginning of your professional career in order to manage your money skillfully. As a result, we have elected to integrate discussions and exanples of personal money management throughout the chapter. 

The safety professional should be aware of the various pitfalls open to management and other employees relative to rules of doing business. Employees unaware of the consequences of their actions may engage in activities detrimental to the well-being of the organization. In a lawsuit, even in situations where no dollar amount is awarded to a plaintiff, the company may have to expend large amounts of money... 

Family business owners tend to refrain from drawing money from the business, they are less career-oriented, more centralised in their decision-making, and less likely to seek external advice than professional managers (Dyer, 1986 Leach, 1991 Cromie et al, 1995). 

It requires professional judgement to determine the suitability of safety management systems and safety aspects of products, for example, in securing compliance with legislation. Parties involved will have to spend much time and money to find and train personnel with the necessary competence to perform these tasks. For inspectorates however the move to self-regulation is often accompanied by a reduction in available resources. The cost of specially trained personnel and expensive equipment are too much of an expense today to be passed on to the taxpayer. 

If you have a conversation with the finance department or on Wall Street, you will hear different views of what value means. The definition of value from a finance person would include, of course, money. Within this book, we will begin to understand different perspectives on what value means and show how supply chain management and operations affect an organization s financial performance. In the next chapter, we will discuss the monetary value of a firm in greater depth, but for now, taken together, firm value includes ROIC, growth rate, and cost of capital. It is incredibly beneficial for supply chain professionals to understand how these factors are affected by supply chain activities. In the end, you will not only know how operational metrics are affected by your decisions but you will also grasp how financial metrics are influenced by your decisions. 

Obviously, management commitment to safety is crucial. But, what does this mean in practical terms of implementing a program First, it means that the organization has a clearly stated policy on safety. This policy statement serves as the foundation of safety and health management. It communicates the value that safety has in the organization. This pohcy should be the basic point of reference for all decisions affecting safety and health. So, when it comes down to a situation where there s debate about whether to spend money on a certain hazard control, the safety professional can point to this policy to remind everyone of safety s stated place in the company. 

---