Q:

What do financial advisers do?

A:

Quick Answer

Financial advisers give guidance or direction to their clients in matters that regard taxes, investments and insurance decisions. These professionals have a wide knowledge base in matters that involve finances and are therefore better placed to give tips and solutions to improve financial management.

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Full Answer

Financial advisers may be employed by individuals, private businesses, multinationals and even government agencies. Some of the specific duties that financial advisers may execute include:

Educate clients - advisers may give important information regarding certain investment ventures and how to minimize any potential risk. They discuss with clients the options available and why one may be better than the other

Planning - financial advisers may offer a plan on how to save, invest or pay for education

Monitor client accounts - these professionals may monitor a clients account in order top determine whether any changes should be made for better performance or to accommodate certain life changes like children or a marriage partner

Research on behalf of client - advisers may carry out research into the various investment or debt settlement options available to the client

Recommend investments - when clients cannot seem to settle on a particular investment venture, advisers can look at the advantages and disadvantages involved and then offer a solution or choose the best option

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Sources:
bls.gov

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