All of us respect a sound advisor. But often we ignore the importance of having one. Financial planning is a subject which requires deep knowledge and understanding estimating client needs. It is a scientific approach and also an art which comes by experience. How to take full advantage of having a financial planner? First is to know his/her role and importance.
Financial Planner helps you define your financial goals:
First role of a financial advisor is to make you aware about your future needs. Unless you are clear about it, no robust investment can succeed. If it is not tailored for you, you will not be able to continue with it over a longer period of time.
Financial Planner is thorough with the knowledge of the subject:
A good financial planner has gone through complete education, training and experience. It requires dedication and investment of time along with other resources. A good planner can add a great value to you if you are willing to participate in the process.
Financial Planner can help you save time in the process of selecting right product:
Of Course, it’s not his primary role. But certainly he can help you based on your need analysis and his experience of the market. Selecting the right product is certainly a time consuming process. A good financial planner can help your time for the same.
Personalization of your plan:
It is not a one size fit all approach. It requires a lot of evaluation and discussion. If it’s done with the right approach, it can create wonders for your financial future. You and your family will cherish its fruits for a considerably longer period of time.
It’s not just about your investment, but also includes saving, budgeting & insurance:
Yes, financial planning is not just about your investment needs. Infact, it starts with your emergency fund requirement. Unless you have gone through complete need analysis of saving, budgeting & insurance, no investment decision can be taken.
It’s not a one time process, he helps you review it periodically:
Financial planning is not a static process. Periodic review is a very important part of it. If you can’t review your financial plan with your advisor at least once in a year, it will not serve its purpose.
We recommend a Certified Financial Planner for your effective financial planning. To know more about the same, you can contact us on 9879956949 or email us at hardik@niveshplanner.com.