“Why do you have 20 funds in your portfolio? Any specific reason?”
“Well, nothing specific. One advisor told me to invest in a few funds and I complied. Then subsequently another advisor came along and told me about better funds and I invested in them too. Of course, my Bank RM keeps advising me about various new investment options. I invested in some of them as well.”
“No wonder your portfolio is a mess.”
If you are a High Networth Individual or an HNI, you are literally spoilt for choice. You are made to feel that you deserve something special because of your monetary status and cash flow.
Money managers, advisors, agents and distributors flock to you to offer you that special treatment that you deserve.
Here are the investment problems that I have come across while talking to and working with HNIs: