The Various Kinds of Financial Planner

1. The Various Kinds of Financial Planner

2. Is your financial advisor a fiduciary or non-fiduciary? This particular question has led to large political and legal battles over the year. The thing is, it doesn’t really matter. It doesn’t matter whether you financial advisor is a fiduciary or not. What matters is how much they know and have knowledge and experience about financial planning. Here you are presented with a completely different taxonomy for the financial planners. The taxonomy includes both real life and online financial planners and are divided in various categories. Study these categories to save on a lot of money. Some of these categories are a century or two old and one is younger than internet. Each category would be appropriate for different people depending on the kind of advice they are seeking and the field of investment they are considering.

3. The Gladhander. Another term used for stockbrokers, a gladhander is more or less a salesman. A stockbroker is a professional who buys and sell securities and stocks from stock exchanges or even over the counter, on behalf of the clients in return for a commission or a fee. The question arises – is it wise to use this kind of money manager? Well, only if the kind of advice you need is not related to or demands financial analysis. They are not great in that. They can help you in, maybe, choosing and investing in a promising stocks. However, you would never know on the moment which stock is actually good, and the truth is they don’t really care. Similar to salesmen, their job is to sell annuities and securities for commissions, fee and sales commission.

4. The Stockpicker. Stock pickers are professionals who use their expertise and experience perform a systematic form of analysis in order to pick selected stocks, on behalf of their clients, that would probably be a good investment, and add these stocks to the clients’ portfolio. They add good stocks to the portfolio and sell the bad ones.Today, there are numerous vendors who promise to sell great portfolio advice, but don’t expect all of them to be great at their job. There will always be some stock pickers who would prove, after a certain event, to be a good portfolio advisor. However, past success being just a feeble indication towards success in future, it is not possible to ascertain in advance who will succeed.

5. The Percentage Planner. This category of financial planners in Bangalore, are the ones who collect a percentage of the assets you possess and in return gives you advice on spending, saving and investing – college accounts, mortgages, and retirements, etc.. The good ones carry credentials such as “certified financial planner.” It generally means they have more expertise than the gladhanders.

6. The Hourly Planner. There are lawyers and accountants who charge by the hour, why not financial planners. These are the best kind of financial advisors. Some may charge exclusively on an hourly basis, and some may charge on hourly basis take in other factors. However, hourly planners are very rare to find. The Hourly Planner. There are lawyers and accountants who charge by the hour, why not financial planners. These are the best kind of financial advisors. Some may charge exclusively on an hourly basis, and some may charge on hourly basis take in other factors. However, hourly planners are very rare to find.

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