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Types of Financial Advisers

by bitezine

A financial advisor or financial adviser is a professional that offers financial advisory services to customers according to their financial capacity thewealthbuilder.club. In most countries, financial advisers must obtain certain regulatory licensing and complete certain training in order to give professional advice to potential customers. Financial advisers can be self-employed or they can work for a firm that employs a large number of employees. Most importantly, financial advisers offer financial advisory services to corporations, insurance companies, public institutions and even individual households.

Financial Planning and Investment Counseling

The financial advisers that are employed by firms and large corporations have a variety of duties. Their primary duty is to advise their clients about the different options that they have, and how those options can affect their company and their personal finances. Other duties that they may have included giving the clients the information that they need to decide which investment option is the best one for them and advising them on the types of mutual funds that are suitable for their portfolio.

On the other hand, financial advisors that work for individuals to work mainly with individual clients. They give advice to people who are planning to start a new business, those who are going through a divorce, or those who are trying to adjust their life after a recent loss. Some financial advisors specialize in particular fields such as estate planning, retirement planning, or asset protection. There are also some financial advisors that cater to a particular type of client such as retirees, students, families and the elderly. There are also financial advisors who are members of associations such as the Boston Society of Advisors (BSAA), the Financial Planning Association of America (FPAA) and the Institute of Chartered Accountants of India (ICAI).

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