Financial adviser
Financial Adviser
Any professional, who renders services of investment advice and financial planning to business, government and individual, can be termed as Financial Adviser. It is the duty of financial Adviser to help client in proper asset location and offers the advice on bonds, stocks, insurance products, real estate investment trust, mutual funds and other investment related products for the benefit of the client. Many financial consultants receive commission for the financial services rendered but today fee-based planning is widely accepted in the financial industry. There is difference between fee-based and fee-only advisers. In the fee based process the Adviser is paid fee as well as commission, whereas in fee-only system the financial consultant is paid fee only without any commission for the financial service rendered.
Designation
Anybody, whose duty is to provide appropriate financial service for the betterment of financial situation of the clients are known as Financial Adviser. Professionals such as Investment representatives, Certified Public Accountants, Financial Planner Attorneys, whose function is to deal with personal financial investment or real estates and Insurance Consultants, can be defined as financial Adviser. His specialty lies in the formulation of financial strategies and plans, which covers all financial investment need of the client.
Objective
The main objective of financial Adviser is to help clients in planning and management of their financial investments benefiting them. Basic field covered by financial consultant includes retirement provisions, savings, tax procedures and wills. He should be proficient in understanding the financial situation of the client and offer them appropriate advice for their financial stability. The financial risk management of the client is another field; the financial Adviser should manage expertly for the benefit of the client.
