Imagine a child holding the hands of a parent or older relative. Imagine crossing the road without having to look right or left. All a child requires is to trust the judgement of the guardian.
That is what financial advisory does. A financial advisor is a professional who offers financial advisory services for a fee agreed upon by both parties.
Financial advisor takes certain responsibilities off your hands while you focus on other things like actually making money. It involves investment management, tax planning, estate planning, etc.
It is easy to frown at the need to have a financial advisor. You may feel like you have your money without them in the first place, so why should they come in to advise you and get a percentage of your money?
The truth is that you can make your money from a particular field of endeavour and not know of opportunities in other areas where you can make more money.
For example, you might make money as a spare parts dealer without knowing that you can also do well in Real estate. A financial advisor sees these opportunities and positions you to benefit from them.
Their service helps you build wealth faster with lesser risk.
The relevance of a financial advisor cannot be over-emphasized. Decisions around money are the fulcrum of a healthy financial status.
A healthy financial status is the bedrock of every business organization. It extends to industries, and by extension, to the economy as a whole.
Pay for a financial advisory service can be based on commission, profit-percentage structure, or both. This is an incentive for them to look for good deals and opportunities for you as a client. In clearer terms, their income is tied to the success of your venture or investment.
A lot of different professionals are also financial advisors. They include stockbrokers, insurance agents, investment managers, and anyone whose job it is to manage your money, tax or investment. Estate planners can also be categorized as financial advisors. The important factor here is that a financial advisor must provide advice on money matters.
Conclusion:
A lot of different people can claim to offer financial advisory services. For example, an estate surveyor determines the value of your property based on its location and what facilities or amenities are available. The bottom line is always about what is in it for them and what’s in it for you in the long run. There is a lot to gain from having a financial advisor readily available. You can get the services of good ones at www.fundquestnigeria.com
