What does a financial adviser actually do?

Feb 12, 2015 | Financial Planning

What does a financial adviser actually do?

I have been a financial adviser for 20 years and have worked across the world building a solid track record and amassing a huge bank of knowledge which enables me to do my job effectively. The role is varied and encompasses many different aspects but I’d actually like to start this post by explaining what I don’t do as I think that is one thing that sets me apart from many of my competitors and is a major reason why lots of my clients choose to work with me rather than them.

I do not purchase investments on behalf of my clients. The reason that I don’t do that is that I lack the in-depth knowledge which would enable me to do it effectively. I do have some knowledge of money markets and how they work, in fact it is essential in my role – but I would certainly not describe myself as an expert. Experts in the field have access to ongoing and extremely detailed research into the performance of stocks, shares and funds which informs their decisions and enables them to make their clients investments work as hard as possible for them. That is why I leave that task to my partners, whose track records speak for themselves.

So what exactly do I do? In a nutshell, I work closely with my clients to establish their financial goals – that could be anything from owning a luxury yacht to saving enough for a comfortable retirement. Then I devise a strategy for achieving those goals. My aim at all times is to manage my clients investments in such a way that their wealth is constantly growing. Protection of that wealth is also key so I will help them to put in place life insurance, health insurance and critical illness cover to ensure that whatever happens to them neither their investments or the financial wellbeing of their families are put in jeopardy.

My role involves building a relationship based on trust with my clients. They share very personal information with me including details of their mortgage, savings, debts, taxes, employee benefits and their hopes and desires and they can be safe in the knowledge that I always treat this information with absolute confidentiality.

I also need to ensure that I understand how my clients feel about risk. All investment involves some element of risk but most of us are relatively risk averse. It is important that I adapt each financial plan to the needs and also the risk tolerance of each individual client.

Many people believe that a financial adviser is something for only the very wealthy. This is patently not true and in fact it could be argued that it is those who have the least who can benefit most from having a professional on board to guide them through the financial maze. My clients come from all backgrounds and are certainly not all wealthy millionaires but they all share one common aim: a desire for a secure financial future.

If that is a desire that you share, why not let me help you put in place a strategy to guarantee it? I would be delighted to work with you and help you achieve your financial goals.

For more information, please contact Michele Carby at Holborn Asset Management on +971 50 618 6463 and on e-mail at [email protected]


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