Independent Financial Advisors
As the name implies, independent financial advisors are self-employed. They are experts who provide impartial financial advice. Before offering financial advice, independent financial advisers will conduct a thorough examination of their clients’ financial situation, interests, and goals. They’ll then recommend a solution to fulfil the client’s goals. In other words, they operate in accordance with their clients’ ideology. Investment, insurance, retirement planning, mortgages, and tax advice are all areas that independent financial advisors can help. http://www.richplum.net/4-practical-financial-tips-for-every-entrepreneur offers excellent info on this.
The benefit of hiring an independent financial advisor is that he is not ‘tied’ to any financial institutions or products available on the market. As a result, he is unlikely to compel you to purchase such financial products on the market and endanger your money. Independent financial planners, to be exact, are practitioners who adhere to a strict code of ethics.
A premium is charged for the services of financial advisors. However, the majority of independent financial advisors accept a fee for their services or consultations. Independent financial advisors can work for a fee rather than a commission if the business being offered is small. In certain situations, where the investment or financial service offered is very high, a combination of fee and commission is suggested.
In terms of credentials, make sure the independent financial advisor you select is a licenced specialist who has dealt with a wide range of market conditions. He should have formal credentials and be a member of professional organisations. You are welcome to inquire about his qualifications. Check to see whether he is a Certified Financial Planner or Certified Financial Analyst (CFP or CFA). Alternatively, you should examine all sections of the “Form ADV” to determine the profile of the independent financial advisor of your choosing.