Personal financial advisors are in the business of assisting the individual investors in designing their short or long term financial objectives. At the same time, these professionals are also in the business of providing the solutions that are necessary to achieve these objectives.
Personal financial advisors are experienced professionals, who offer financial services to the clients and help them achieve a well-planned financial status. These people are also known as financial consultants or financial planners. These professionals play a major role in the global financial markets.
A large number of personal financial advisors are in the business of offering investment products to the clients, which include several insurance products and mutual funds. In addition, the financial planners are involved in managing investment portfolio for their clients.
For doing this, the financial planners should have good knowledge and skills of computer and mathematics. Good communication and analytical skills are also necessary.
Services Provided by Personal Financial Advisor
The personal financial advisors have expertise in various domains like investments, insurance products, tax regulations and many more. Simultaneously, these professionals also offer financial risk management solutions to the individual, as well as institutional clients. These professionals help the clients design their financial portfolio for both short and long term.
For this purpose, the financial advisors analyze the present financial condition of the client and consider their financial obligations with due importance. After completing these processes, the personal financial advisors provide their clients with a definite financial plan that is formulated according to the present financial situation and financial goals of the particular client.
The financial plans created by the personal financial advisors are written or sometimes verbal plans that include a number of factors like the financial instruments that are suitable for the client in which the client can invest. Furthermore, the financial planners recommend several insurance products that are suitable for the client. Alternative investment options are also suggested. After providing the plan, the personal financial advisors monitor the plan and interact with the client on a regular basis. Future of Personal Financial Advisors
These professionals are highly paid and the demand for financial planners is rising very rapidly. The primary reason behind this is the growing complexity in the investment sector. At the same time, the investment activities are also growing everyday. The personal financial advisors render their services individually or they can work with a financial service providing firm
Last Updated on : 1st August 2013