How Do I Know If My Portfolio Needs Professional Management?

How do I know if my portfolio needs professional management? There is not a particular point that would need a professional, it is not set on the magnitude of dollars invested. I do not think, there is a...

I do not think, there is a particular point that would precipitate hiring professionals to manage a portfolio. At Vanguard, we deal with clients who might have only $25,000 or 50,000 of investable assets, who manage it themselves. We also deal with clients, who might have 5 million dollars, who manage it themselves, so it is not the magnitude of it. In terms of professional management, I think the most important thing is that the money management itself be professional and that you can do through a directly marketed mutual fund, so people who invest at Vanguard do get the benefits of professional money management. They do not necessarily get the benefit of an adviser, who tells them, which mutual fund to buy. But, I would suggest that if somebody spends a couple hours and understands a few of the basics that they can in fact learn enough themselves to structure and investment program that would serve them well whether they have got 5000, 50,000, or 5 million dollars.

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