During the Christmas holidays, when I told people that I am a financial adviser (also spelt advisor in American English), they asked me what that function involves exactly. To say that I am usually shocked by such a response is an understatement. So, I am using this opportunity to write an article about the role of a financial adviser. There is even a National Financial Adviser Day on 18th April.
Who are financial advisers?
Financial advisers are professional who offer clients financial services based on their financial position, by providing advice on how individuals or organisations should manage their finances, including investments, insurance, and other choices.
Financial advisers are sometimes confused with financial accountants. However, the two professions are extremely different. We will discuss the difference in detail next week.
In order to help their customers prepare for both short-term and long-term financial goals, such as retirement and home ownership, financial advisers provide guidance and education. They also provide advice on insurance, investments, and taxes.
Financial advisers assess the financial position of their customers and make suggestions to assist them in developing an investment strategy. They provide financial plans that account for all of their clients' needs, which may include both short-term and long-term objectives.
Financial advisers provide information and research findings on how to achieve your investment or insurance goals in addition to helping you understand what is required to reach your goals.
Additionally, they provide clients customised financial plans that leverage on their expertise and knowledge to assist clients in achieving their financial goals.
Financial advisers have a solid understanding of corporate finance and the stock, bond, and investment markets, which aids them in choosing the best assets for their customers.
To provide advice, financial advisers must complete specific training and register with a governing body in their country of residency.
I am an Associate Member of the Chartered Institute for Securities and Investment (CISI) and Chartered Institute of Bankers of Nigeria (CIBN) and have a practice licence from Chartered Institute of Bankers of Nigeria (CIBN).
What services does our company offer?
The services offered by the financial advisers of the OVAC Group include but are not limited to:
Financial Administrators and Managers - We manage the financial tasks for a company, provide scientific analysis of all facts and figures through various financial tools, such as different financial statements, budgets etc., maintain the financial records for tax purposes and invoices, plan the short-term, medium-term, and long-term financial goals of an organisation, protect their assets, carry out strategies to raise capital and develop financial plans.
We provide expertise for clients' decisions around money matters, personal finances, and investments.
Debt Management and Receiver Managers Consultants - We advise on how to achieve debt relief and develop a viable plan for paying off debt by managing your finances more effectively. We can take possession of the assets secured by the security agreement, to sell or liquidate, to repay the outstanding debt.
Credit Analysts, Administrators and Managers - We assess the creditworthiness of potential customers, conduct background checks on potential customers to determine their ability to pay back the principal and interest and oversee the credit granting process for a company. We also conduct periodic reviews of existing customers.
Arbitrators, Mediators and Conciliators in Banking and Finance Matters - We help opposing parties settle disputes outside of court in Banking and Finance Matters.
Trustees - We hold and administer property or assets for the benefit of a third party and have a fiduciary responsibility.
Industry Analysts - We perform primary and secondary market research within an industry.
In summary, you require a financial adviser if you experience problems in managing your finance/money or want to make investment decisions. Be sure to compare the financial adviser's services to your needs and any prospective future needs.
Email us at: email@example.com for a free consultation with our team specialists.