Tips to choose a good financial advisor |
Posted: February 23, 2019 |
Although the figure of the financial adviser is not as known in USA as it is in other countries around us, little by little it is gaining weight and confidence among savers and investors in our country. It is a professional specialized in the field of finance that can help us to correctly choose the best movements to make in our investment portfolio. But for this to be the case, it is essential that our financial advisor be competent, independent and able to adapt to our savings and investment needs. Next, we will know a little better this professional figure, we will discover what their functions are and what we should look for when hiring financial planning near me. Why hire a financial advisor? It is always important that we know how the different savings and investment products that we hire work to get the best return for our money. But there will come a time when, faced with the level of complexity of certain products, we need the guidance of someone who knows the world of finance better than we do. At this point, when deciding on complex investments and high risk many savers ask for advice from a friend, an acquaintance, consult specialized media or report through the Internet. That's fine, but if we want to have all the guarantees that deserve the savings that we have struggled to achieve, it is best to go to a professional expert in the field to recommend us in case of medium and high risk investments. What are the functions of the financial advisor? The main function of a financial advisor is to guide us in making decisions when investing our money in different savings and investment products. But not enough to tell us how much we should invest and in what. A good financial advisor must be able to know their clients and establish an investor strategy adapted to the needs of each of them. To do this, you must first determine the investor profile of each client based on their risk tolerance, to know which the products that best meet their investment needs are. This is fundamental: it will be useless for our advisor to propose the most aggressive movements if we have a low risk tolerance. There must be a good harmony between counselor and client, that the first understands the needs of the second. And that in turn the advisor is able to correctly explain the characteristics and implications of each investment option. And this includes its operation, advantages and disadvantages, the taxation of the product, legal issues, etc. In addition, the financial advisor will not be limited to proposing a single option when drawing an investment strategy. On the contrary, it must be able to offer several alternatives to the client, explain each one of them and leave the necessary freedom so that the saver can make the best decision with clarity and knowledge of the cause. That said, it is important to remember that as customers we must take an active role in defining our savings and investment strategies. Hiring an advisor should not be synonymous with neglecting the issue and give the professional full responsibility, but quite the opposite. It is our capital that is being managed, we must understand every proposal that the adviser makes us and ask him to solve all our doubts.
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