Within the context of this article you will find the basic definition and a slightly different perspective in regard to stock options. If you wish to start you career in this field, in financial advising, you are required to hold at least a Series 6 or Series 7. Before getting licensed, you need to take a Series 6 course in an approved and accredited course provider. A good financial advisor will earn their fees a million times over, but a bad one can charge you for the privilege of squandering your money. These five factors can help you sort out the good from the bad in terms of financial advice. Sometimes, that’s OK. When you’re choosing a financial advisor, though, that’s not the best approach.
Big-time financial advisors are trying to get as many clients as possible, usually because they have a one-size-fits-all approach to investing. You want a financial advisor who can spend time with you, assessing your individual needs and making recommendations tailored to your life. If you’re looking for someone to advise every aspect of your financial life, you should look for a Certified Financial Planner (CFP). This certification requires years of training and a board-standardized exam on the ins and outs of the financial world.
The slightly easier to obtain Chartered Financial Consultant (ChFC) license uses the same curriculum, but does not require an exam. Because these professionals provide financial advice and charge fees for it, they are held to the highest ethical standards. They may have a financial incentive to recommend services that are not in your best interest. In an initial meeting, a good financial advisor will do much more asking than telling. Some financial advisors will want to ask you questions and use your answers to formulate a plan.
That could be a sign of an advisor who is more interested in selling high-commission products than in serving your financial needs. Other advisors will want to present you with a range of options and involve you in a collaborative process about your financial future. You can now see why there are only 164 licensed financial planners in Malaysia in the 6 years of issuance. Comparing to our neighboring Singapore, they have licensed 3,500 financial planners in the last 8 years to serve a small population of only 5 million and they don’t have tied agent advising on investments.
Fund managers or even PHDs in finance, with their qualifications & experiences, are not qualified to apply for financial planning license in Malaysia if they do not possess the full CFP, RFP or ChFC qualification. Therefore, it’s safe to conclude that it’s tougher to be a financial planner than to be a fund manager in Malaysia. If some one wants expert view about blogging after that i advise him/her to pay a quick visit this blog, Keep up the nice job. Had a summer job in a sub shop named after the NAUTILUS so that added to the long list of gimmes in this one.