Investing in stocks is not a simple job it requires some special skills and a little bit of research work, then an investor will be able to identify stocks which match to his specific needs .. This is a time consuming and professional job. And simple broker cannot do this kind of activity. For this an investor needs a financial advisor, who may take good care of all these aspects and let the investor harvest good profits.
Many people believe that they are batter advisor of themselves because they understand their own needs and can cover all aspects of finance and investment. So they do not spend extra money and thus they do not hire any financial advisor. While some people feel comfortable with a professional advisor.
A claver advisor work with you collects all your input data, understand your financial footing and then use your resources to get your dream goals. So be positive and supply all the financial information to him so that he may be able to build a work strategy for you.
In the next coming lines I will try to highlight various corner of strategy that a good financial advisor may plan
1 He will develop a brooder view of your financial footing, hence all your strengths and weakness will be reveled
2 He will identify rational goals or you may say realistic goals this will avoid heavy financial loss
3 Recourse management is another mile stone of financial advisor’s strategy. He will allocate resource to your investment as well as he will not leave your other needs or priorities un addressed there are many examples may be you are planning to buy a new car, your kid needs money for higher education etc.
4 He will invest your money in a way that you will earn more profits and will pay minimum taxes
5 He will invest your money or will plan to invest your money where there is less risk though profits are not too tempting.
In addition to above mentioned strategic plan he may focus on the areas from where you may generate more resources e.g.
1 Give you batter advise on retirement account
2 Advise you in the field of insurance such as health medical life disability etc
3 Plan the educational needs of your kids in coming future
4 Advise you to adopt polices that minimize the tax payout
5 Any other financial goals are addressed like buying new home raising your business
The all above mentioned goals and strategy need a comprehensive plan or a road map which will lead you to your goal. Obviously different types of financial advisor will provide different types of work plan.
Advisor can advise you he can show you the way and he can tell you all the options. It is now at your part to be committed and make these plans come true with the right commitment otherwise a very good plan will fail if the commitment is not up to the mark
As I told you in the start of the article that in another article I will try to discuss on the types of the financial advisor. Different types of financial advisor work in different ways. I will compare them to evaluate the plus and minus point of their ways of works and plans.
Do you know some free Financial advisor ?