Financial Planning – What Does a Financial Advisor Do?


Posted On Dec 26 2016 by

The Financial Planning Process contains these six steps:

1. Establish and define the client-advisor romantic relationship.

This is actually the initial meeting…

In New Zealand, it is just a requirement that you will be given a consultant disclosure affirmation. This addresses experience, qualifications, the way the consultant is paid, and human relationships with product providers among other activities. You can also consult halftimecoach online to know more about financial advisor.

2. Gather customer data, including objectives and goals

Financially today the planner will need to determine where you are, what your present situation is, and can ask you for several information about your financial circumstances. You'll be asked about your aims and goals, your time framework for trading and reaching goals, as well as your tolerance for risk will be evaluated.

3. Analyze and examine

The info you have provided will be examined with regards to your present situation and the consultant will know what action you must try to meet your targets.

4. Develop and present recommendations

A written plan will be prepared by the financial planner showing tips that address your goals, centered on the info you have provided.

5. Implementation

When you are pleased with the advice you and the consultant will agree how implementation is usually to be carried out. There could be a period where in fact the consultant coordinates certain operations along with you and other pros like a legal professional for the planning your will or a stockbroker for the purchasing of stocks.

6. Monitoring

Regular reviews are advised, at least with a twelve-monthly basis. You select how is suitable often. If your circumstances change it could be necessary to meet more often. You might monitor your own progress towards your targets. Discuss this with the advisor.

Last Updated on: December 26th, 2016 at 12:28 pm, by


Written by Katherine K. Vaca


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