5 traits your financial advisor should have

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When it comes to financial planning and managing wealth, people want to have best financial advice and a healthy relationship with the advisors so that they understand what they are looking for.

Often, the role of a financial advisor is never understood well. But, their importance cannot be undermined as a financial advisor provides sound information on whether or not to invest in specific stocks or fund.The role of a financial advisor is risky and it is important to have someone with sound knowledge.

A financial advisor is more of an educator. Many people don’t have the required knowledge and even desire to know their portfolios. All they want is to make money and secure their wealth, which is why they hire financial advisors, who help them through the process.Without that general understanding, and the knowledge of the financial goals at hand, any major bump along the way could jeopardize the desired result.
Money matters are crucial and having a right financial advisor can make you achieve your financial goals. It is important to have a financial advisor so that your investments are looked after and your financial security is intact.

If you are looking for the right financial advisor, there are five traits he/she must possess.

1. Approach: Check whether the financial advisor has a proactive approach or not. A good financial advisor will always make it easy for you to understand money matters. There is a very fine line between being pushy and persuasive. And needless to say, a good financial advisor will not be pushy.

2. Experience: Check your financial advisor’s client list and assess how much experience he/she has. Good financial advisors have sound experience in their field and they do not panic when you cross question them. You should ask your financial advisors about their clients and how much wealth they secured in the past. Money matters should be dealt with very carefully.

3. You vs company: See if the financial planner puts your interests first or his company’s. Your financial advisor should be more concerned about your money and wealth management than his company’s goals. Many a times, it is seen a financial advisor sells his/her company’s products and services. You should not fall in the trap and should consult others as well.

4. Understanding finances: A good financial planner will understand your investments, expenses and savings well and advice accordingly. They will not make castles in the air. They will show you the reality and form a basic plan for you. They are the guides to your wealth management.

5. Good reputation: A financial advisor should invoke confidence. Always look for references from kin and kith as they can find the right financial advisor for you. Make sure your money is in safe hands.

However, many a time, customers do face problems in finding a suitable financial advisor. Due to hectic schedules and scepticism, many people skip hiring one. Here comes the role of online insurance, which is gaining steam nowadays.

If you are not comfortable with meeting a financial advisor and having personal sessions, you can always go online. You can always assess different types of insurance policies as per your need and select one. Since the internet has quickly transformed into a reliable resource of information, it has become easy for us to plan our finances well with the right expert, who has demonstrated their credibility.

HDFC Life has recognised this need and has launched a calculator that assists you in browsing potential options and helps address your queries. This calculator, like a financial advisor, takes care of your monetary requirements and advises you plans as per your needs. It will put your interest first, be thorough with your requirements and then present you with the best options. In a bid to address your queries, the calculator also has a live chat option.The online calculator is as good as a financial advisor. Click here to know more: http://www.hdfclife.com/financial-tools-calculators/click-to-insure
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