Article

The Various Types Of Financial Advisors

108 views

Financial advisors are very important to any individual; they are the ones who guide your untiring efforts of earning money into fruitful usage. Though most people know the various means of earning money, a large percentage does not know or rather understand the ways to manage their finances well. This is the reason that financial advisors are being hired so widely. They are a sort of lifeline for any earning individual.

The Various Types Of Financial Advisors

The financial advisors are completely responsible for looking after your financial well being. Of the most popularly known are three types of financial advisors –

  1. The Independent Financial Advisor ( also known as Agents or IFA)
  2. Relationship and Wealth Management Officers ( also known as RWMO)
  3. Qualified Financial Planners (QFP)

David Barcomb is a well known financial advisor from Massachusetts who holds several years of experience. It is this experience of his that is the most invaluable thing. Based on it he has been successfully managing a group of eight people to carry out the task of planning financial strategies and managing assets of clients.

As the name of the first type suggests, the IFAs are financial advisors who work independently, that is to say they are not employed under the government. Their main aim is to satisfy their clients and maintain a long term relationship with them by delivering high quality and satisfactory work. They are usually employed with larger financial institutions or banks.

The RWMOs on the other hand, are a little more selective about their cliental base. They do not cater to one and all like the IFAs; and offer a greater variety of facilities for its clients. Their clients of preference are those who are termed as High Networth Individuals or HNI. Contrastingly, the QFP is a type of financial advisor, who draws out the financial plans for you. In other words, the QFP is responsible for helping you chalk out your various financial undertakings. These advisors have a deep and profound understanding of the market and are an absolute reliable authority to depend upon for all the information on the market trends.

The QFP thus, make your financial plans after thoroughly comprehending both your requirements and the condition of the market. Their aim is to provide you with the best deals utilizing the minimum of your financial resources. The financial market is like a home to them and it is therefore that they can customise the financial plans for you depending on your needs and goals.

As the complexities of the financial world increased, the number of financial advisors has also been on the increase and the more reason for you to select very carefully among the thugs and the genuine ones. You should always trust those advisors who have gathered experience in the field over several years, such as David Barcomb. He has an experience of more than 20 years and that is enough to vouch for his loyalty and sincerity in work.

Finances are not only a very crucial area of your life but also a very confidential one; it is hence that you should always take time to decide on the kind of financial advisor you want to hire.