0
What tactics does a financial planner apply to deal with a difficult client?
Wiki User
∙ 6y agoWant this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
What are some well paying careers in the field of finance?
A Financial Planner for a corporation is one of the higher paying careers in finance. A financial Consultant, Broker, or Estate Planner are others. The pay will depend for the client you are working for so city and government organizations and big corporations make the best clients.
Reasons To Work With a Financial Retirement Planner?
For most people, one of the most significant concerns in life is not knowing whether or not they will be financially prepared for retirement. Due to the increasing costs of living and healthcare, as well as the increase in average lifespan, it is nearly impossible for most people to estimate how much money they will need to comfortably retire. To help plan for retirement, most people could benefit by hiring a financial retirement planner. The first way that a financial retirement planner could help a person is to discuss their current personal situation and explain how their goals can be met. A financial planner will sit with an individual, regardless of their age, to get an understanding of how much money they have saved, how much they think they will need at retirement, how much they are willing to save throughout their careers, and when they wish to retire. The retirement planner will explain what lump sum amount of income they believe that their client will need and then create a detailed projection of how much they could expect to have. Based on the projection, the planner will then suggest alternate investment strategies, which could require them the client to save more or invest in riskier securities. After a plan is created, a retirement planner will continue to monitor the progress of their client's portfolio and continue to make suggestions based on their client's circumstances and changes in the economy. Throughout a person's career, many factors could influence how a person should handle their retirement savings. The planner will consistently make suggestions to maximize their client's return and minimize risk. The third way that a financial retirement planner could help a person is to continue to consult while a person is in retirement. The planner will continue to manage their client's money and make other suggestions about how they should handle their finances. This typically will include suggesting whether or not their client should wait to take their social security or pension benefits or if they should purchase an annuity to guarantee a stream of lifetime income.
What services does Mackenzie Financial provide?
MacKenzie Financial's services consist of many different financial based services. Some of these services include investment loans, managed asset programs, and private client programs.
How is a futures account protected?
Futures are generally protected from a financial institution from becoming insolvent from clearly defining what the financial institution's money is and what their client's money is. The FDIC also insures money.
Qualifications needed for financial adviser job?
The main purpose of a financial adviser is to help clients in planning and managing their finance. Sometimes financial adviser is also required to help out with the wills of the clients. To perform this purpose successfully, a financial adviser needs to have a thorough understanding of the investment avenues available including savings schemes, retirement options, mutual funds and stocks. Apart from this a financial adviser needs to have a clear understanding of the taxation laws in the country which will enable him to reduce the taxes payable, thus increasing the benefits for the client. Some of the formal qualifications that a financial adviser can look for are the CFA (Chartered Financial Analyst) course or the course of Chartered Accountant (CA). These days there are also MBA degree available with expertise in Investment Banking which can provide formal education in this field. Organizations such as the Chartered Financial Analyst Institute, Certified Financial Planner Board of Standards, The College for Financial Planning and The International Association of Registered Financial Consultants offer additional courses and designations which can help professionals in the field of financial advice.
What guidelines need to follow in financial planning?
The Financial Planning ProcessThe financial planning process consists of the following six steps as described below. It is so much more important and relevant in light of the Proposed financial Advisory and Intermediary Services Bill 2000.Establishing and defining the client-planner relationship: The financial planner should clearly explain or document the services to be provider to the client and define both his and the client's responsibilities. The financial planner should explain fully how he will be paid and by whom. The financial planner and the client should agree on how long the professional relationship should last and on how decisions will be made.Gathering client data, including goals: The financial planner should ask for comprehensive information about the client's financial situation. The financial planner and the client should mutually define the personal and financial goals of the client, understand the client's time frame for results and discuss the client's risk profile and risk tolerance. The financial planner should gather all the necessary documents before providing the client with advice.Analysing and evaluating the client's financial status: The financial planner should analyse the client's information to assess the client's current situation and determine what the client must do to meet their goals. Depending on what services the client has asked for, this could include analysing the client's assests, liabilities and cash flow, current insurance coverage, investments or tax strategies.Developing and presenting financial planning recommendations and/or alternatives: The financial planner should offer financial planning recommendations that address the client's goals, based on the information provided by the client. The financial planner should go over the recommendations with the client to help the client understand them, so that the client can make informed decisions. The financial planner should also listen to the client's concerns and revise the recommendations as appropriate.Implementing the financial planning recommendations: The financial planner and the client should agree on how the recommendations will be carried out. The planner may carry out the recommendations or serve as a "coach" to the client, co-ordianting the whole process with the client and other professionals such as an insurance agent, investment adviser, attorneys or stockbrokers.Monitoring the financial planning recommendations: The financial planner and the client should agree on who will monitor the client's situation and adjust the recommendations, if needed, as circumstance require.
Can you tell me how to become a financial planner?
There's really no set path to becoming a financial planner, in terms of requirements. Anyone can take on the label, so it's pretty much an instant process when you get your first client.
What are some well paying careers in the field of finance?
A Financial Planner for a corporation is one of the higher paying careers in finance. A financial Consultant, Broker, or Estate Planner are others. The pay will depend for the client you are working for so city and government organizations and big corporations make the best clients.
Reasons To Work With a Financial Retirement Planner?
For most people, one of the most significant concerns in life is not knowing whether or not they will be financially prepared for retirement. Due to the increasing costs of living and healthcare, as well as the increase in average lifespan, it is nearly impossible for most people to estimate how much money they will need to comfortably retire. To help plan for retirement, most people could benefit by hiring a financial retirement planner. The first way that a financial retirement planner could help a person is to discuss their current personal situation and explain how their goals can be met. A financial planner will sit with an individual, regardless of their age, to get an understanding of how much money they have saved, how much they think they will need at retirement, how much they are willing to save throughout their careers, and when they wish to retire. The retirement planner will explain what lump sum amount of income they believe that their client will need and then create a detailed projection of how much they could expect to have. Based on the projection, the planner will then suggest alternate investment strategies, which could require them the client to save more or invest in riskier securities. After a plan is created, a retirement planner will continue to monitor the progress of their client's portfolio and continue to make suggestions based on their client's circumstances and changes in the economy. Throughout a person's career, many factors could influence how a person should handle their retirement savings. The planner will consistently make suggestions to maximize their client's return and minimize risk. The third way that a financial retirement planner could help a person is to continue to consult while a person is in retirement. The planner will continue to manage their client's money and make other suggestions about how they should handle their finances. This typically will include suggesting whether or not their client should wait to take their social security or pension benefits or if they should purchase an annuity to guarantee a stream of lifetime income.
What is financial prejudice?
fianacial prejucice by the client or financial prejudice against the client
Financial Planner?
A financial planner serves an important purpose for individual clients. Most individuals do not have the time nor the expertise to plan out their future. With this in mind, they hire a certified financial planner to help them come up with a plan that suits their goals and their changing financial situation. This can be a rewarding and lucrative position for those with the financial skills and the personal ability to attract and retain clients.Becoming a financial plannerThere are a few steps that one must go through to become a financial planner. Though it is not a requirement, most will have some sort of background in finance or accounting. This gives them the ability to read the markets and make sound decisions for their clients.Likewise, those looking to become a financial planner will need to pass the CFP exam. Upon completion, they are certified financial planners who have the ability to manage and direct individuals on their finances.What do they make?One of the most important questions for many is just how much money a financial planner makes. These individuals are typically self-starters and much of their pay comes from commissions. This means they make as much money as their skills and networking ability allow them to make. Most start out in the $45,000 to $50,000 range if they are good, and they can build upon that very quickly. The sky is the limit with this field, depending upon a person’s ability to attract wealthy clients and make them money.What do they do?A financial planner will typically sit down with a person and figure out just how much help they need. Some CFPs handle all of their clients’ finances, monitoring their accounts and suggesting investments. Others are just there for advising purposes and act more as consultants. It all depends upon what the client wants, since this is a client-driven business. Much of the certified financial planner’s job is reaching out to new clients and keeping himself on top of the latest investment vehicles. It can be exciting at times and stressful at others, and the work load is determined by the list of clients.
What is the scope of financial planning in India?
There are two aspects to your question : 1. The scope for the client 2. The scope for the Planner. There are literally lakhs of clients out there who yearn for good financial advice. So there is a latent market. However, many of these are wary of paying for the same, believing that financial publications and the electronic media are good enough. Hence if you want to have a career as a Financial Planner you must be prepared to dig in for the long term. The few planners who are well known today are able to charge highly for their services. However, that is true in every profession. The best ones will be able to command a premium.
What type of personality is required for a fashion designer and wedding planner?
very agreeable with the client also very patient
How much does a travel planner make?
Charge $ 30.00 an hour and multiply it by the time you spend on planning a client's vacation.
How to terminate difficult client.?
The best way to terminate a difficult client is by being prepared. You can make suggestions for the and highlight how the other person's services will benefit them.
What is the responsibility of independent auditors?
The primary objective of independent auditors are rendering opinion report on the financial statement that is the responsibility of client management. The main reason auditors need to be independent are to provide credentional for the client prepared financial statements. Therefore, the users (Bankers, Investers and third party) of the financial statement can have unbiased information about the client financial Statements.
What is client journal entries?
Client journal entries are records of financial transactions maintained by a client, such as an individual or a company, in their own accounting records. These entries reflect the debits and credits related to the business activities of the client. Client journal entries are used to track income, expenses, assets, and liabilities for financial reporting and analysis purposes.
