A financial advisor or financial adviser is a professional that gives guidance to customers based on his/her financial expertise. In most countries, financial advisers must undergo certain training and be formally registered with a regulatory board in order to give advice to people about financial issues. Financial advisers help a customer plan his/her retirement or invest for wealth enhancement. Financial advisers also help people understand the nitty-gritty of investing and help them find suitable investment vehicles like GIC’s (General Insurance Clearing Corporation) and mutual funds.
In addition, financial advisers play a key role in advising people on how to achieve their short-term financial goals. They are expected to know when a client needs a financial adviser and what type of financial advice such an advisor can offer. Some advisors offer a range of advisory services including planning, investment strategy and investment products. Others focus on one particular sector or investment like estate investment. Other advisors offer all round services such as estate planning and asset allocation.
Planning for the long-term and setting long-term financial goals are critical to a long-term wealth enhancement strategy. Therefore, a good financial coach must have sound knowledge on the matter. Apart, from advising their clients on investing options, a good financial planner should also be an expert in estate planning, taxation and other related financial issues. In fact, some of them are even experts in various fields like pensions, insurance policies, wealth enhancement and investing.
Financial advice can be given either by way of telephone or face-to-face. However, financial advisers prefer to give advice over the phone as it is convenient for them. Moreover, they need not worry about the time factor as advice can be given today as per the requirements. However, people can opt for the traditional method of giving financial advice through face-to-face meetings. This is advisable only if you have the experience and the know-how to explain your plans properly to the financial adviser.
There are many firms that provide financial advice through the Internet. These days, people can simply log onto the web and seek advice on various financial matters. It saves time as well as energy as everything can be accessed at one place. However, there are certain factors to consider before opting for online financial advice:
If you want your case to be heard without any hindrance, then it is best to hire a lawyer to represent you. A qualified and experienced lawyer will be able to formulate the case properly and defend your interests in the best possible manner. The main thing is that you should be able to understand the main purpose of the meeting and whether the financial advisor constitutes financial advice according to the law of the land. Only a competent lawyer will be able to understand all these complexities.