Michael Tory tells about the Role of Financial Advisors

Michael Tory

Michael Tory said Financial Advisors give clients expert advice about managing their money. To give financial advice, advisors need to be professionally qualified and comply with rigorous rules of the financial industry. Financial advisers can be generalists who can cover all aspects of a client's financial plans, or they can specialize in one or several areas, such as tax laws, investments, or debt payments.

Financial advisers require advanced knowledge of market performance and investment strategies, but also need to possess good interpersonal skills, as recruiting clients and offering guidance is a significant portion of the job. They also can be tasked with helping clients build long-term budgeting plans, which are based on their income, their individual spending needs, and outstanding debts. Financial advisers assist clients with planning their short-term and long-term financial goals, including buying a home, paying for a child's education, and retirement. A financial advisor's main responsibility is to learn about his client's financial goals and to use this knowledge to help his clients create a plan for reaching these goals.

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