subject: Financial Consultants In India [print this page] A lot of organizations make durable relationships with their consultants and work with that specialist for many years, trusting their opinion and using them to coach, guide, and mentor and are a friend. Finding the right fit for a financial consultant can be a difficult undertaking because building this business relationship requires an assessment of a companys needs that targets current obstacles while providing future benefits. A specialist that provides a plan based upon that companys particular needs is valuable, and many times the commission becomes a factor for a consultants commitment, and not the desire to create a continuing relationship.
Financial consultants are self-employed firms or institutions which give professional guidance on financial planning and financial management. Financial consultants offer analysis and guidance to businesses and individuals in making investment decisions. They add value to an individual or individuals and family, by helping them lay out what their overall needs are and fluent their goals. Financial Services cannot make the goals up but help the client to understand how their finances can help meet those goals. Financial consultants assess the economic performance of companies and industries for firms and institutions with money to spend.
The help may be enforced almost always. The advices have proven to be realistic during the years of bad markets that we had during the years 2000-2003. Before 2000, we had amazing markets and there were a lot of people investing over the internet and online and getting short-term profits. People thought that there really wasn't a need for financial adviser or financial consultant because of how well they could do on their own. However, that period of boom ended in a big bust. The majority of clients, who followed the advices from them had a good sound financial plan, didn't suffer during the down trend. But those without the advice and guidance from the financial consultants had strained their finances resulting in a huge loss. While, an appropriate financial planning is a roadmap towards success, they are the one who plan this roadmap.
Why do people avoid financial consultants?
There are three practices that are prevalent, when it comes to taking financial advice of the financial consultants:
1. Many people suppose that only they can plan their own finances. They think that reading a few books/business magazines/newspapers, browsing through financial websites and watching some business channels are more than sufficient to make investment decisions.
2. Even when an agent is involved, they expect him to pass some fraction of the commission he or she earns.
3. To hire financial services by paying them fees, just as they would do for a doctor or a lawyer or an accountant etc., is practically unheard of.
It is important to appreciate the fact that the investment world is huge which comprises of shares, mutual funds, bonds, post office schemes, credit cards, home loans, insurance etc. Each investment module has its benefits, draw backs and typical terms and conditions. It is difficult for a normal person to be having extraordinarily in every condition. In fact, even an advisor would usually specialize in some specific fields only.
