Financial Advisor is licensed to work with you diversely
The primary job of a licensed Financial Advisor is to professionally guide you in your personal financial aspects. Preferably, a licensed Financial Advisor is competent to write Financial Plan for you and your family in detail and also provide proficient financial advice in a fiduciary capacity. Commonly, financial planning and investment advice are major reasons to hire a licensed professional.
Clients may change his/her Financial Advisor, but why?
There are many reasons why client may decide to change their Financial Advisor. Poor investment returns or high fee are not the actual concerns. But, few practical reasons when client may feel the need to switch because of any of the following reasons:
- Lack of required professional qualification,
- Lack of work ethics,
- Absence of due diligence in practice,
- Absence of product suitability matrix,
- Miscommunication,
- Not properly listening to the clients’ concerns,
- Lack of clarity in their personal financial journey,
- Not responding on time, etc.
Clients come to a licensed Financial Advisor like us with the following:
- Foggiest idea about their cash flow (they may know their income but they don’t how they spend). No clear idea about their spending habits-spendthrift or closefisted,
- Haphazard personal & financial assets without purpose,
- Lack of clarity about liability side,
- Unorganized qualitative and quantitative information/documents,
- Unidentified goals with unidentified goals amounts and goal time frames,
- Expectation to get unbiased advice and peace of mind, etc.
Your Financial Advisor is expected to act professionally in your best interest.
As professionally qualified and licensed Financial Planner, we address the following aspects:
- Present financial status of the individual/family
- Exercises to address personal aspects of the individual/family
- Increase financial awareness
- Risk profiling and interpretation
- Insurance planning
- Contingency planning
- Goal-based investment planning and advice
- Debt planning
- Family cash flow planning
- Estate planning
- Tax planning
Genuine responsibilities of a Financial Advisor
A professional Financial Advisor must know how to motivate his clients to implement the Financial Plan effectively into action. Financial Plan and investment advice are totally subjective. Clients expect personalized and unbiased financial advice and services.
Clients trust a Financial Advisor with genuine intentions and impartial advisory practice. As SEBI Registered Investment Advisor in Kolkata, We emphasize in building a long-term relationship with the client. We sincerely believe that it’s our duty to obtain complete information/data (both qualitative &quantitative) from the client, analyze the same constructively and provide workable solutions to them in their best interest.
Clients Goals & Objectives
Clients have distinctive financial goals and objectives. We address both technical and personal side of money based on clients’ financial goals & objectives.
Identification of key-issues/concern
Clients need advice on pressing matters. As Financial Advisor in Kolkata, we empathetically address their concerns and provide subjective solutions at their best interests.
Assumptions/expectation
As Certified Financial Planner in Kolkata, when we write a Financial Plan, we deal with the present and future assumptions and expectations of the client. They may be internal and external aspects to the client. Assumptions are expectations. Basically, we intend to draw a real figure regarding the assumptions and expectations with periodical review.
Risk management & risk analysis
Need-based approach related to insurance coverage (both life and non – life) is followed in relation to risk management for the client.
Risk-profile
A risk profile is an assessment of an individual’s risk capacity, risk appetite and risk tolerance. Before analyzing product suitability and recommending we follow explicit risk profiling processes.
Asset-Allocation
On the basis of risk profile, investment objective, investment time horizon, personal and macroeconomic factors, we design asset allocation strategies for our clients.
Recommendations
Recommendations holistically cover all aspects of your personal finance (not just investments). Corrective actions also form part of our recommendations. Generally, financial goals for the family are beyond child’s future, own retirement, car or flat purchase, etc. In order to achieve financial goals, as Fee Only Financial Advisor in Kolkata we precisely lay down action steps for the client. We focus and guide clients with respect to their nitty-gritty of personal finance. Clients need exact solutions.
Peace of mind
Ultimately, clients get peace of mind when he/she is confident and comfortable in his/her journey towards financial freedom.
To conclude, there is no one-size-fits-all solution when it comes to your personal financial aspects. Choose your Financial Advisor who is ethically driven and suits your needs the most. Mind it, you’re unique and your requirements are also unique. It’s advisable not to mirror others.
