Entrusting your Finances to another Person


Why should I opt for a financial advisor?

Like many others, you have the hopes and dreams to retire comfortably. However, like many others, you might not have the expertise, the time. or the desire to actively plan and manage certain financial aspects of your life. Managing your personal finances is ultimately your responsibility. However, you don’t have to do it alone. You may benefit from a third-party perspective on what are often emotional and complicated decisions.

Some of the benefits of choosing a financial advisor are:

  • A financial advisor can save you time by analyzing suitable investments, managing your paperwork and making sure you are up to date with economic and business news.
  • An advisor can teach you the basic concepts of investing, such as diversification, risk/return, etc.
  • With an advisor, you can establish a long-term partnership which will help you stay on track in meeting your financial goals.
  • A financial advisor will continuously monitor your investment portfolio.
  • With a financial advisor, you will have access to important decision-making research and information.
  • An advisor will understand your complete investment portfolio, while anticipating your changing needs.

What is a financial advisor?

If you want to relax and remain worry-free while thinking of entrusting your finances to another person then opt for a good financial advisor. There are several professional designations that require a candidate to have specific levels of education and experience to qualify as a financial advisor.

The following options will help in the selection process:

Broker: An individual who is licensed to sell securities and serves as an agent between the person and the companies and agencies that sell securities on the open market
Chartered Financial Analyst (CFA): An advisor who has passed the test covering economics, accounting, security analysis and money management.
Chartered Financial Consultant (ChFC): The advisor who has completed a course of economics, taxes, insurance and investing.

Chartered Investment Council (CIC): An individual who has passed the tests covering economics, accounting, taxes and money management and has minimum 5 years work experience.

Chartered Life Underwriter (CLU): A consultant who has training in life insurance and personal insurance planning and is certified by his state to sell insurance products by one or more insurance companies.

Registered Investment Advisor: An investment advisor who is listed in the Securities and Exchange Commission.

Registered Representative: An advisor who has passed the Series 7 and Series 63 exams and is permitted to sell securities and has the legal power of an agent.