A Financial Advisor Must Be An Investor's Best ... - Posterous

Financial advisors always tell that saving entails spending less than what you have. Yet, their clients know this fact too. It is just that the money in hand of their clients are not enough for their expenses. Also, saving alone takes time before you can build your wealth. Thus, financial advisors must adjust their advice to the personal situation of the client.

While advisors know all about the numbers, there are clients who have little idea on what to do with their finances. To be a financial advisor that more people prefer, you should try to know your clients personally. Aside from knowing his expenses every month, you must also learn more about his goals in life or his interests. You can then device a plan that the client will have an easy time following.

Also, you should be updated with the latest trends in business to have a solid advice. From newspapers to publications and to the world wide web, the information you need is readily available. You can incorporate these innovations to usual wealth-building advices to entice the client. Of course, it is easier for a client to deal with negative developments if he has a diverse investment portfolio.

A great financial advisor also encourages his client to create an income out of his passion. If the client is good in the arts, you can help him calculate the expenses that he has to deal with in building a signage business. If the customer is skilled in music, you can show him how to successfully start and manage a music school. The client would be more motivated to build a business that he likes.

Make sure that your consultation fee is affordable to avoid losing customers. You must also monitor your clients regularly to know the status of their business and incorporate more wisdom to what they have started. Though being good with math is important to be a well-known financial advisor, it is worthless if you are not well-versed in dealing with people.

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Source: http://thefinancenewstoday.com/2012/02/18/a-financial-advisor-must-be-an-investors-best-friend/

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Source: http://marandashzh.posterous.com/a-financial-advisor-must-be-an-investor39s-be

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