Knowledge of your client is key to good advice

wealth management

A prime function of investment advisers is to ensure that the asset allocation used to invest their clients' funds suits individual client needs and continues to do so as their circumstances change

We all know the old adage in purchasing property. Location, location, and location are the first, second and third most important considerations. Similarly I believe asset allocation, asset allocation, asset allocation are the most important criteria in investment planning. And just as - fortunately - we don't all want to live in the same house, in the same street, in the same town, so we don't all need the same asset allocation. Just as we put ourselves through the mental wringer before making a property purchase, so we should put our clients' circumstances through a similarly rigorous...