Ryan Elantri: Advice For Selecting A Wealth Management Firm

In 2015, Ryan Elantri was selected from a pool of four hundred applicants to be part of a forty-student cohort that took part in a Wall Street Boot Camp at Penn State University. He attended sessions on a number of topics, including investment banking, securities and wealth management. The latter is of particular interest to high earners who wish to protect their finances.

If you are in this position, consider the following before deciding on a wealth management firm.

Don’t Focus Solely On Cost

While it is important to consider your own budget when selecting a firm, focusing solely or primarily on the cost you will incur may prevent you from seeing the benefits that more expensive firms can offer. While cost should be a factor, you need to dig a little deeper to find out what the firm will do with your money and if a higher cost will pay off later on.

Verify Everything

Before you sit down to speak to any wealth management professionals you should do your due diligence to verify their credentials and ensure they can offer the services they promise to you. Furthermore, it is important to establish at the interview stage if the person you are speaking to will be the one handling your account or if it will be passed to somebody else once you sign up with the firm.

Get Referrals

No decisions should be made on impulse. Assuming your due diligence checks out, you should also seek referrals from people you trust to find out more about the candidate’s work style.

Ryan Elantri is developing his skills in wealth management through his studies at The Pennsylvania State University.

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