Financial Advisors are those who are specialists in the financial world. They are aware of various investment avenues- their pros and cons in detail. Besides this, They are Qualified Professionals who knows the taxation rules of the investment options.
In today’s digital era, everyone are searching Google for investment options. But the drawback with it is it doesn’t suggest manually depending on investors risk appetite, circumstances and goals.
No Two Persons income levels, expenses and goals are same.The data available on net is for “Informative”Purpose only, it should not be applicable to all. Only Qualified Financial Advisors suggests them depending on the tenure of the goal and risk capability of the investor.
Selecting a Good Financial Advisor– You should choose an financial advisor on the basis of
- He Must be a Qualified Finance Professional with rich experience in the field
- His investment advice should be on the basis of investors goals
- He Must disclose all his commission pay-outs received from the investors investment
- But be careful whether he is or giving fair advice or suggesting a product which gives high commission to him
- He Must be available 24*7 to give fair advice in case of emergency
- Check whether the advisor is offering off-line transactions or if he is offering online services too; the policies must be fair and transparent
- Check whether he is suggesting pros(advantages)of the product; not cons(disadvantages); He must disclose all the pros and cons in detail
- He must explain the taxation associated with the investment in detail
- He must be associated with the investor till the end of the investment tenure
- He should help in processing unclaimed investments to the legal heirs
- He should maintain nominee list and in case of the demise of the investor, he should act as a mediator between the investment firm and the investors family.
One should select a good financial advisor by considering all the above factors. The important factor one should consider- “He must be in touch with the investor 24*7”