Managing a financial heritage is not done blindly. It is highly recommended to hire a professional for this, especially if you do not have the required skills in the field. But are these advisers really trustworthy people or are they just salespeople?
This is a professional who gives financial advice to his clients in order to help them better manage their assets. He has in-depth knowledge of the legal, tax, financial and banking fields in order to carry out his mission. Either he works within the bank or any other financial institution or he offers his services to private companies or individuals as a consultant.
The financial adviser studies and analyzes above all the accounts and banking movements of his client as well as all his financial products. The two parties then agree on the level of risk to be exposed to during an interview. Professionals can thus determine the appropriate type of investment based on the information in their possession and the knowledge at their disposal.
The financial adviser also offers the client the products or services of the bank that could be useful to him in carrying out his projects. It gives the latter detailed explanations of the formulas available, clearly mentioning the advantages and possible disadvantages.
The professional also negotiates the interest rates according to the profitability and the risk associated with the investment that the client wishes to make. On this point, he must also take into account the interests of the institution that employs him. Finally, it is the planner of all the steps to follow to achieve the outcome of the project, in particular the preparation of the files.
The adviser must be in regular contact with his client and constantly inquire about the evolution of the financial market. It is also his duty to monitor his bank accounts and inform him of any problems. Finally, he must talk about the new offers or reforms proposed within the institution and possibly negotiate a questioning of the file.
A financial adviser who works in a financial institution has a complex role. He serves both the interests of his client and those of the bank. So, I recognize that it is in a way a salesperson who wants to sell services. He must also retain his customers and must therefore offer products that really suit them and proceed with negotiations as far as possible.
The fact of being a trustworthy person ultimately depends on each person and not on the profession. Some perform their work honestly and in good faith. They provide financial advice to sell the bank’s products, but also make sure to offer options that are truly adapted to their client’s situation. On the other hand, others only find their interest in it. You can also turn to a consultant who is not attached to any financial institution.
I recommend that you always assess the value of financial advice as well as the person before accepting proposals and embarking on planning.