6 Benefits of Hiring an Independent Financial Advisor
Financial advice as well as planning isn’t only for the super wealthy–it’s beneficial for everyone. Solid financial planning might help you reach your financial aspirations and objectives, securing your loved ones’ long-term future. Below are six reasons why you should consult an independent financial advisor.
Provides personalized financial advice based on your needs
Independent financial advisors usually aren’t tied to any particular investment products or even fund family. So, whatever help you need with retirement planning, estate planning, managing assets at many places, or a tax issue, an independent financial advisor is free to select from many different investment choices to personalize advice depending on what best suits you.
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Gives solid advice for your complicated financial needs
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An independent financial advisor can help you take care of multiple complex investment requirements that arise when you become significantly wealthy. While specific services are different in each firm, financial advisors are often seen as “financial quarterbacks” that look after your whole financial needs. Certain advisors specialize in some investment strategies while others help you with all-inclusive services, such as borrowing or estate planning, trusts, complicated tax situations, charitable giving, sale of business, as well as inter-generational wealth transfer.
Offers a personal, attentive and responsive relationship
To give advice that closely matches your goals and needs, an independent financial advisor first needs to fully understand your situation. Therefore, many independent financial advisors strive to build strong relationships with clients. This usually requires constant, regular interactions. And since many advisors are entrepreneurs who own businesses, they consider themselves answerable to their customers.
Know who is holding your money
Independent advisors hire independent custodians to hold and protect clients’ assets. This provides a helpful checks and balances mechanism–the same party that advises you on how to make investments with your money does not keep your money.
Provides a transparent, simple fee structure
The fees that independent financial advisors charge depend on the percentage of assets they take care of. This fee structure can have plenty of benefits. It is simple, easy to understand and transparent, helping you to avoid surprises. It also motivates your advisor to help increase your assets. As you succeed, your financial advisor also succeeds.
Gives peace of mind
Money is a very complex matter and you have to consider a lot of factors to both make the most of the money and protect it. Markets are fickle and both the rewards and risks tend to be overblown by the media. Hiring a reputable independent financial advisor can spare you the burden and leave it to an expert. Whether you want general, specialist or practical financial advice, whatever amount of money you spend on getting financial guidance can be repaid so many times over ultimately.