Don’t think I was clear enough…is the guy you are proposing JUST a money manager (i.e. investing your money), and then I’d probably agree with you),

OR

if his “money managing” is part of taking a comprehensive view of all your needs (taxes, protection, etc.)?

I know absolutely nothing about the guy you are proposing, but I work for a ton of financial planners that handle a lot larger accounts than $7mil regardless of the planners net worth.

My question is what is this planner’s deal – is he a comprehensive planner that is looking out for your ENTIRE well being like tax planning (future estate and income) or is he looking to just invest your money? Protection planning (buy-sell agreements, DI, and Life)? etc.

Second thing to take into account is I don’t think anyone will handle your money with the same care to safety and growth that you have done. So, I would maybe ask for advice from someone who has made money from the same sources as he advises you to use, but I would NEVER hand my money over to someone else to handle for me.Look at John Wayne. We all know him, but how many know his story? He made millions in his lifetime (only to allow someone else to handle the details of investment and safety). When it came time to retire,he found himself not only broke, but seriously in debt to the government. His retirement had to be postponed till death to continue making money, to pay the government,and to survive.

Like what Buffett have said Price is what you pay, Value is what you get. How can it be riskier to buy a perfectly sound company with steady and consistent free cashflow at a good price that is 50% below my own estimated value.

MM301 concerns wealth preservation? Well then, I do concern myself with boom/bust cycles and will do my utmost to protect my profits and preserve my wealth when its time to get out of the market.

Ok, I must admit it is not for everyone. This is a perennial debate on you can’t time the market, it’s the time in the market that is important blah blah blah. I’m not here to debate that. Anyway, I am more or less like this guy over here http://thewallstreetbully.blogspot.com.

I do my money management plan and have appropriate exit strategies for my investments.

There are many roads to Rome. MM301 to me is about taking minimal risks with any investments you are taking. Buying a house or buying govt bonds is not as low risk as you think it is. If you are indeed referring to those as MM301 strategies. Every investments have risk, it’s how you mitigate the risks that is MM301.

@wj I’m glad to hear that you have done very well in the market. However, trying to time the market or pick individual stocks are not MM301 strategies. A MM301 plan minimizes risks and rather than taking extra risk when the markets are down.

Since the market is still below the peak I can only conclude that you took some extra risk when you took over the account. This time it turned out well, however it could have gone badly, possibly really badly.

-Rick Francis

My equity investments only need rebalancing once annually, so no need for a planner there. And my real estate investments are only watched by me, other than a property manager, which I dont count the same.

So, during the crisis, they did nothing much to preserve my money. I lost around $750k in paper money, I got fed-up and took over. I have since recovered all lost ground and has gained another $250k more. I should be on target for a few million more if the market keeps climbing the wall of worry like it does now. But i’m keeping my eyes on the prize and will be ready to take action to preserve my wealth.