Request and receive money that’s owed to a company or organization.
We work hard for our money. The payoff is when our money works hard for us.
A Personal Financial Advisor guides clients towards their financial goals, like planning for the future, paying off debt, putting money in savings, finding tax advantages. Whatever the end target, you provide both information and options.
Personal Financial Advisors start by evaluating the client’s goals. How much risk are they comfortable with? Are they saving for retirement? Do they wish to buy a vacation home? Are they saving for their children’s college education?
Next, you design a plan. You consider how much money they make, what debt they currently have, and where you can suggest savings.
Your knowledge includes investments in the stock market, real estate, precious metals, bonds, and treasury bills, but you have a much broader view of the client’s finances. You look at life, health, dental, vision, home, automobile, and disability insurance coverage. Can they get a better rate? Better coverage? Do they need more coverage?
You also help with tax issues. Although you’re not a CPA, you offer advice on investments that can lower their tax bill and increase money in their pocket. Additionally, you help prepare for the future in the form of estate planning and retirement.