The very wealthiest may have an array of experts and tools to help them deftly manage their funds, yet many still follow the most basic tried-and-true stock picking advice: Invest in what you know.
“A lot of ultrahigh-net-worth investors are fans of Warren Buffett and like the idea of buying stocks of companies whose products they use consistently,” said Vance Barse, financial advisor at Your Dedicated Fiduciary, part of Commonwealth Financial Network. “It’s very common for them to ask for our insight on those names,” he added.
