Who is a Financial Consultant?

It is always an uphill task to manage our personal finances. Questions like when, where and how to invest can pose great problem if we are not a regular tracker of investment options and market scenario. In such a situation, a suitable advice is always welcome. Usually we go back to our elders or friends who are experienced and have enough exposure regarding the financial planning. But there is also professional help at hand if you consult a financial advisor or consultant. Most banking and financial companies have dedicated people who provide advice to the customers regarding their financial health. These certified professionals are called Financial Consultants.

Role of a Financial Consultant

A financial consultant offers advice to individual and businesses about how they can manage their money. Individuals take guidance on how to reach long-term financial goals from him. He reviews their current financial situation, also called financial health. Evaluating financial health includes understanding the current debts owed by the customer, his savings and investments, his regular expenses and what are the short term and long terms goals he wants to fulfil. These goals include protecting his income for the family in case of unforeseen situations, buying a new house, going abroad for family holidays, child’s higher education, child’s wedding, etc.

The consultant assists you in developing a systematic plan to fulfil your needs. He advices on what kind of savings plan, insurance plan, and retirement plan to purchase.

Financial consultants are there to help us plan on how to spend less, save more and hence get the maximum out of our income. But at the end of the day, decision has to be made by you as it is your money. So it is very important for you to research properly before you plan to invest as nobody understands your requirements better than you.


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