Qualities of the Right Financial Advisor

I would first like to address the need of having a good financial advisor. The concept of financial advice is very closely co-related to investment planning. Good investment planning is very essential for wealth creation. Sadly not everyone is able to make good investment decisions which require a lot of time and lack expertise and t

Financial Advisor

Financial Advisor

hus making it difficult to deploy their hard earned money in different areas of investment. When such investment decisions are taken in haste without doing any good research it leads to erosion of funds that the investor would have worked very hard to accumulate.

In my opinion there are modern ways to grow your hard earned money other than the conservative and traditional methods i.e. bank account, postal savings or fixed deposits we Indians are used to Prudent Financial Planning is a must if we want our money to multiply. We need to realize this before it’s too late.

Though the concept of financial advisory is a relatively new one, it is gaining acceptance slowly. The financial literacy among the masses has increased and so has the awareness that they need to make right financial decisions. Thus this need to make the right financial decisions gave rise to what we call a financial coach or financial advisor who assists the investors in financial planning.

There are some inherent qualities of a financial advisor:

  1. He/she should be well qualified and should have material knowledge in the area of expertise.
  2. He should have proven experience as a financial advisor having handled different spectra of clients.
  3. He should be accessible by the customers any time.
  4. He should always keep the needs of the customer on a priority list.
  5.  He/she should be able to understand the investment objective of a customer in a high degree by considering major factors like age, living standard, financial position of the customer.
  6. He/she should be well enough to identify the risk profile of the customer.
  7. An advisor should have the ability to track and balance the portfolio of a customer considering major factors like market conditions, which may affect the portfolio.

So whenever you are looking out for a financial advisor it would be prudent to keep the above pointers in mind, they would surely assist you in narrowing down and identifying the right financial advisor for you.

Leave a Reply