What is a Portfolio Manager? US News Asks AlphaCore for InsightPosted Sep 02, 2021
The term "portfolio manager" gets thrown around often, so US News recently turned to Dick Pfister, CEO of AlphaCore Wealth Advisory, to explain the complexities of the job, general duties and qualifications.
Pfister stated, "We are basically on a fact-finding mission to determine what the client's goals and objectives are for their household in their portfolio." This mission can include finding equities, fixed-income and alternative investments that will meet return targets, long-term investment objectives, risk tolerance and liquidity needs. These factors form an investment strategy that should function for an investor to accomplish both long-term and short-term financial goals.
In regards to qualifications, it is a combination of personality, experience and knowledge of the field. Pfister says having an open mind and humility is crucial. "You've got to be humble enough to realize and recognize when you're wrong and be able to change your mind," he said. Knowing when to ride out market volatility and when to move on comes from experience.
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