Most people get started with investing through an employer-sponsored retirement plan at work, such as a 401(k) or 403(b). What you might not know is that every investment portfolio requires ongoing management, especially your retirement account. It’s not enough to set up the account and make regular contributions. That’s where portfolio management comes in.
Portfolio management is the handling of your financial assets, with the goal of increasing your wealth and minimizing investment risks. It can include buying or selling stocks on your behalf, balancing and analyzing the portfolio, and making recommendations for improvements. We recommend working with our experienced financial advisors to keep you on track for your financial goals and mitigate your risk.
Our financial advisors understand that investing your money can be risky. But with the right risk management strategies in place, we can mitigate risk and help you work toward your financial goals. Here are some examples of risk management:
- Asset diversification
- Asset management and analysis
- Planning the impact on your taxes
- Aligning your assets with your risk tolerance
Your portfolio includes a variety of assets, including stocks, bonds, mutual funds, and options. Some assets carry more inherent risk than others, but they may also offer greater potential rewards. For example, bonds are not as risky as stocks, but they still provide better returns than using a savings or money market account.