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What Are Financial Advisors? How Can They Help Me?

What Are Financial Advisors? How Can They Help Me?

Many of you have heard of Financial Advisors, but do you know what they really are?  

Financial Advisors are professionals who use their expertise to advise their clients to make the best and wisest decision on the their personal finances, investments, and on money in general.  The goal of Financial Advisors is to help their clients accomplish their financial goals.  Whether it be assisting their clients with meeting with a Financial Planner to help with their retirement needs by setting up a IRA (Individual Retirement Account) – so that you will have enough money coming in to provide for you and your families needs during, and after retirement.

  • Estate Planning – Financial Advisors can help you create a plan to ensure your wishes are carried out just in case sometime happens to you or a family member in the future.
  • Tax Planning – Financial Advisors can be a Tax Accountant who will discuss with you all the tax laws regarding situation, and help you take advantage of certain tax breaks and advise you on charitable donations to save you money.
  • Trust and Legacy Planning – to protect and preserve you and your families wealth and assets that you all have worked hard for.
  • Debt Management – Financial Advisors can show you all the benefits of being debt-free and devise a plan that can help you get out of debt and stay out.
  • College Fund Planning– Financial Advisors can help their clients save for their children’s college education with a 529 Plan so when the time comes there will be enough money to cover part or most of their tuition and needs.
  • Investments. Depending on how much money the client has Financial Advisors can give you advice with large investments such as Real Estate, they you get in touch with Hedge Funds, Family Offices, Venture Capital Firms, Private Equity Firms etc. so they can potential maintain their wealth. They can even act as your stockbroker and execute trades for you.
  • Long Term Care and Insurance Planning – Because the cost of Medical Insurance is very high Financial Advisors can also be (in certain instances) your Life Insurance Agent explain to you the different, and affordable options such as (Health or Life and Term Life Insurance) to choose from when selecting insurance for you and your family both now and in the future.

Knowing what Financial Advisors are, we know that they can be your StockBroker, Financial PlannerLife Insurance AgentTax Accountant, and your Finance Lawyer. They should be a well-educated, credentialed, an experienced financial professional that is a independent practitioner who operates in a fiduciary capacity in which a client’s interests come before their own.