A financial advisor or financial planner is a person that offers financial planning services to customers according to his or her financial capacity. In the United Kingdom, financial advisers are required to complete certain education and also be registered with a governing body in order to give financial advice. Financial Advisers is also known as Financial Advisers or Life Trust Advisers in the United States. Financial Advisors can work privately or as members of consultancies.
Financial Advisors helps their clients to set and reach financial goals by providing relevant and reliable financial advice, by developing a strategic financial plan and by educating people about money, saving and investment. When the time comes to start investing, financial advisors are often hired to make the initial investment, as well as help people understand what investments they are eligible for. Financial Advisors may also be involved in the preparation of retirement plans, estate planning and the provision of insurance policies, as well as in implementing financial strategies designed to protect the interests of others and to achieve financial goals.
There are different types of financial advisors such as investment advisers, tax efficient planners, estate planning and housing finance advisers. Some specialize in one or two areas such as savings, capital gains and pension schemes. Other types of financial advisors provide a wide range of investment products such as GIC’s, bonds, equities, mortgage instruments and derivatives. They are also involved in setting up employer-based retirement plans and employee pension schemes. Financial products can be traded on the over the counter market and futures exchange markets. Financial Advisors may also work directly with individual investors.