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A Financial Advisor is a finance professional who provides consultation and advice about an individual’s or entity’s finances. Financial advisors can help individuals and companies reach their financial goals sooner by providing their clients with strategies and ways to create more wealth, reduce costs, or eliminate debts.

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Financial Advisor Role

A financial advisor can help individuals or companies meet their financial objectives, as follows:

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Individuals

In the case of an individual, a financial advisor can provide insight into how they can save more and build their wealth. This is often done by constructing a portfolio of investments that are well suited to the client’s risk attitude. Some clients are more willing to take on risk if the prospect of a potential greater reward is more compelling to them than the prospect of potentially losing money.

Conversely, there are also clients who are more risk-averse, and that would like a lower-risk portfolio, even if it means potentially lower returns.

Determining an individual’s risk attitude may be difficult since an individual’s risk attitude can depend on a great number of factors. Thus, a financial advisor may ask about things like the individual’s age, income, marital status, indebtedness, or savings in order to gather a solid understanding of their client.

Companies

In the case of companies, financial advisors can help provide a second, neutral perspective on corporate development projects. For instance, if a company is considering expanding its operations by building a new factory, financial advisors can help assess the profitability of the project independently.

Once the advisor’s assessment is concluded, they can present their findings to the company’s management with the goal that their analysis will provide the company’s leadership with a valuable second opinion.

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