The actual role of a financial advisor is to help customers make good financial decisions in order to achieve its goals of life. It is a process of collecting financial data from client, analyzing, and then make recommendations so the customer can make informed decisions. Does not stop there. The process should also involve the application, the periodic review and oversight. This is the role of financial advisor as well which serve the patients is the role of the practice of a physician practice. Can you imagine a doctor give you medicine before appropriate diagnosis?
It's a shame that most people in contact with a financial advisor or a financial planner has been limited to an eventual purchase of a financial product.There is something more practical eso.Las push product have caused much discredited to the profession.
To advise the client on financial matters, the financial advisor should be well trained in: personal management of budget and cash, loans and financing, personnel and goods flow, insurance tax income, retirement, estate planning and investment planning.
While a single financial advisor may not know everything in detail, especially in the beginning, it should work towards a Certified Financial Planner (CFP) or equivalent, providing a solution integrated financial planning for their very areas of greater complexity, experts also can call to complement the financial planning process.
To orient the customer by means of data collection or fact-finding process, the financial advisor should listen actively, not just to the facts as revenue, expenditure, assets and liabilities must understand soft facts such as: the value that the client puts money, their fears and frustrations regarding money and personal preferences about how must be handled their finances.No two customers are the same.
At the stage of the recommendation, the financial advisor should assist the client in the examination of their situation and make an informed decision to implement products or servicios.Esto requires a good financial planner to be a good listener and Communicator.
Another important aspect is the knowledge and application of various products financieros.Productos insurance can vary in design, pricing and implementation, from the simple term policies, for more complicated as policies linked to the investment. other features such as riders or advantages, such as benefit of downsizing sometimes packaged product seguros.Idoneidad products varies depending on the stage of different life, tolerance to risk, budget, financial circumstances and personal preferences products.
A good financial advisor must also be able to match products adapted to the needs of the client and well equipped with a comprehensive understanding of various products and wants.
If the financial advisor is providing investment advice below, you must also have some basic understanding of how financial markets work and be able to act as an advisor to its investment products clientes.Como are always evolving, a good financial advisor must also keep up to date of what products conform to the conditions of the market and situation of its customers.
The next item, we will talk about the aspect of business as a financial advisor...
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