The Various Types of Financial Advisors
Having a financial advisor has become a mandatory thing for all earning individuals; it might be easy to earn money with a lot of hard work, but it is definitely not an easy task to manage your finances wisely. The basic thing that makes the engagement of a financial advisor for you so essential is to be able to store things for the future.
Most people are earning day in day out to make ends meet, though they are successful to keep the daily flow of things intact, yet their major cause of concern is the future. This is the reason more and more people are getting involved in investing in various things, in order to secure their future. But these investments are always subject to market risks. This is what forms the basis of having a financial advisor always by the side.
Since this has become such a common thing, the number of financial advisors has also increased radically. There are however, various categories of financial advisors. For instance, Angelo Talebi is a financial advisor around the Beverly Hill area, who has a dual license registered, in the lieu of which he can be both an investment advisor as well as a broker. In fact, he is also a certified financial planner.
The better you are able to determine the exact type of financial advisor you require, the profitable it turns out to be for you. The CFP or Certified Financial Planner just like Mr. Talebi is one of kinds of an advisor of finance. Their experience is a minimum of three years and should posses knowledge of income taxation, insurance, retirement planning, as well as the financial planning process.
The CPA or the Certified Public Accountant is the other type of advisor. Those who claim to have a certification of these are essentially ones who have completed a program of accounting at the college level. Additionally, they are required to pass certain tests and requirements that the state in which they are practicing prescribes. It is found that certain CPA also earns the designation of Personal Financial Analyst.
There is also another type known as the Chartered Financial Analyst, who have an under graduate degree along with at least four years of experience in the field of finance, particularly the investment industry. Their codes of ethic are rather stringent and they are the ones who display extensive knowledge in the genre of investments. Though Angelo Talebi has the designation of a CPA he too is a veteran investment advisor with more than 24 years of experience.
The Insurance Agents are also considered as a branch of the tree of financial advisors. Their work is to sell insurance products and they are licensed by the state in which they practice their profession. They have the choice of being associated with large insurance companies or work as individuals.
Nonetheless, the type of financial advisor you will require solely depends on you being able to identify your financial situation and requirements. Once you have that figured out, it becomes a much easier task for you to hire a financial advisor for yourself.