Financial Advisory Services encompass a wide range of professional advice concerning managing money, investments, taxes, retirement, and estate planning. The goal is to help clients achieve their financial objectives through personalized strategies.
I. Core Functions of a Financial Advisor
The relationship with a financial advisor is often long-term and holistic, extending beyond simple investment advice.
1. Financial Planning
This is the most comprehensive service, involving the creation of a detailed, long-term roadmap for a client's financial life. This typically covers:
Goal Setting: Defining and quantifying goals (e.g., retirement age, college tuition, large purchases).
Cash Flow Analysis: Evaluating current income and spending habits to identify savings potential.
Risk Management: Reviewing insurance needs (life, disability, property) to protect assets and income.