In the present economic scenario investors need to make intelligent and prudent financial decisions to order to make their fortune in the today’s volatile investment market. They need to have a well-thought out plan in addition to access and awareness of lucrative investment products to execute that scheme. Moreover, these individuals have to handle their own psychological swings that are a natural reaction when these people expose their hard-earned savings to the potential risks and volatility of the financial markets. Taking into account the challenges of investing money in such markets, investors need to seek guidance from a competent financial professional who can assist them in this endeavor.
In the opinion of Keith W. Springer, the President of Springer Financial Advisors in Sacramento, CA, United States says that for individuals who lack the awareness of how to invest their money in the financial markets taking sound decisions in this field is never simple. However, he explains that a competent financial advisor with relevant experience in this realm can assist such people in overcoming the monetary obstacles that they may face while trying to enhance their wealth by investing such markets.
This Kings College and Clark University graduate advocates that the first step that investors need to take in choosing the appropriate financial advisor is to familiarize themselves with the various categories of investment advisors available in the market. Each of these financial experts specializes in a specific area of the financial market and manages their clients’ investment portfolios in diverse ways based on educational background and expertise. In general, financial advisors fall under the following classes from where they get their designations:
- Certified Financial Planners
These professionals earn their designation by successfully passing a comprehensive proficiency examination that covers wide range of topics such as financial planning, taxation, investment and insurance. In addition to this, these experts also formulate schemes relating to retirement and real estate planning. They need to have a work experience of three years in areas they want to specialize in besides following a code of ethics.
- Certified Public Accountants
These individuals have to qualify for a college-level educational program in accountancy in addition to successfully completing an all-inclusive examination that tests their knowledge on accounting principles. Apart from this, these financial experts need to meet the stringent requirements of the state they intend to practice.
- Chartered Financial Analysis
These financial advisors earn their CFA charter by making the grade in an undergraduate degree course from an accredited university in addition to having industry experience of up to four years in area they intend to specialize. They also have to meet the eligibility requirements of three six-hour examinations during their probation period. These professionals also have a thorough insight of the investment market and have to abide by a stringent code of ethics.
Keith W. Springer further explains that a competent financial advisor will always listen to his/her clients intently and answer their questions frankly. They will also go to the extent of answering relevant questions that their clients have forget to mention to get a better insight of financial situation and how they can serve their clients.