What constitutes Good Financial Advice
Published On: 05-Jul-2017
What Constitutes Good Financial Advice?
Investors find that they are offered a range of products and services by advisors and are unable to choose between advisors who meet them for business. Just as we choose a restaurant based on the taste of the food, the quality of the service, the prices, the ambience and the proximity to our residence, we can choose advisors based on a few parameters of their performance.
The ability to understand investor needs.
The expertise to recommend and implement an investment plan.
The execution skill to get an investment plan operationalised.
The ability to monitor the portfolio.
The ability to generate tax records and provide tax planning advice.
Sixth is the management of risk and events.
The ability to manage investor records and keep them updated for changes to address, bank details, nominations and any such information changes that are required.
Advisors must exhibit a professional approach to dealing with the investors.
Last but not the least, as they say, the test of the pudding is in the eating.