If you’re a busy professional, let’s face it, you’re already caught up with too many responsibilities and have little to no time. Spending time on research, following the markets and tracking the changes is not your cup of tea.
Meanwhile, financial advisors earn their bread & butter by helping out busy individuals like you. How do they do it? And do you need a financial advisor? Let’s answer these questions by understanding what a financial advisor does.
Who Is A Financial Advisor?
In simple terms, a financial advisor is a person who can help you manage your money. A good financial advisor goes beyond merely helping you execute trades or doing a quick sell. They establish a 1-on-1 relationship with you and put their industry knowledge & experience to help you:
Build a portfolio based on your needs - investment goals, risk and timeframe
Create effective strategies to save taxes & money
Recommend insurance plans
Generate passive income
Plan for your retirement
Develop an estate plan
Maintain your financial health with timely recommendations
So if you’re a busy professional, they could be as crucial as a family physician.
Are There Different Types Of Financial Advisors?
'Financial Advisor' is an umbrella term for several disciplines. Let’s take a look at the 5 broad types:
Investment advisor: Helps you build a portfolio based on your investment goals.
Stockbroker: Buys & sells stocks on your behalf. Charges a commission.
Financial Planner: Takes an overall approach to manage your finance - health insurance, personal finance, retirement planning, etc.
Robo-advisor: Apps that let you access automated suggestions based on computer algorithms.
Wealth advisors: Work with HNIs and offer investment guidance & top-notch wealth management services.
Wealth Coach: A Cube team member who guides you and helps you choose your investments & shares information from our Financial Advisory partners with you.
The Cube Wealth app gives you access to wealth advisors that were once available only to HNIs. You can even build the perfect investment portfolio tailor-made to your needs based on our Bucket Philosophy.
Do You Need To Have A Financial Advisor?
A financial advisor opens the door to a wealth of knowledge & practical industry experience that can help you achieve your financial goals. But before you choose a financial advisor, ask yourself these questions:
Does financial jargon scare you?
Do you have the necessary knowledge about various securities?
Do you have the time to make your own investment decisions?
Do you have the time to track & act on market movements?
Can you trust your hard-earned money in someone else’s hands?
Eventually, getting a financial advisor depends entirely on your needs. If you want to check the health of your investments & understand if you need a financial advisor, Consult our wealth coaches for free today.
How Does Having An Advisor Benefit You?
Apart from knowing the tricks of the trade, a financial advisor can give you the following benefits:
Investment advice based on data & research
Take the emotion out of your investments & add objectivity
They can tell you how to save tax
They take care of your investments so that you can relax
A financial advisor can be especially helpful if you’re:
Young & still learning the ropes
Planning for retirement
Made bad investment calls in the past
Investing for your children’s education abroad
What Are The Qualities To Look For In A Financial Advisor?
You work hard for money and at the end of the day, you would want to trust someone who has solid principles and a drive for success. So evaluate your options based on the following questions:
Are They Trustworthy?
Trust is essential when it comes to financial transactions. Assess every financial advisor’s trustworthiness based on user reviews or by talking to their present clientele.
Cube’s wealth advisory partners such as Purnartha, Wealth First, RIA Rick Holbrook, Liquiloans, Faircent, etc. have built a legacy of trust by basing their principles in core values.
Do They Beat The Market?
The thing about financial advisors is that they thrive on delivering success and capital growth. So unless they are beating the market, are they worth it?
Cube’s wealth advisors have a consistent historical track record of beating the market. For example, Wealth First has delivered historical returns ~50% higher than the market average.
Are They Giving You Time?
It doesn’t matter if a financial advisor has 1 or 1000 clients. Unless they pick up the phone to tell you what to buy & what to sell, they’re not of much use to you.
Cube users know that Cube’s wealth coaches are available for them 24*7. They can contact them on WhatsApp or better yet, pick up the phone and dial their number whenever they need them. Don't believe us? Read our reviews on Google Playstore & Apple Appstore: Dowload the Cube Wealth App
How Reliable And Quick Is Their Service?
Your financial advisor must be reliable and quick when it comes to their advice & recommendations. Cube users have access to curated & timely recommendations from our wealth advisors.
For example, Cube users were informed in advance to sell their Frank Debt Fund investment in January 2020. It was surprising to most people because the fund was giving 9% returns at that point. But just after 4 months, the fund collapsed. Cube users weren’t affected because they sold the fund.
How Cube Wealth Can Be The Best Financial Advisor For You
The Cube Wealth app was built to deliver affordable & easy to access wealth advisory to all. The app gives you access to curated recommendations from the best wealth advisors from around the world such as:
Award-winning RIA, Rick Holbrook
The financial advice that our wealth advisors give is based on 10+ parameters analysed by individuals who have been in the industry for over 20 years. What’s more? We don’t recommend investment options based on a random computer algorithm.
Rather, our wealth coaches have a 1-on-1 chat with you to understand your investment goals & risk appetite.
Watch this video to know more about the importance of investment advisors
Shriram is a Content Marketer at Cube Wealth, the Financial Freedom App with a smart Perfect Portfolio Planner. He has developed cutting edge IT products for over 2 years before turning to his passion for the written word. Shriram’s love for philosophy, product development, and empowering people through quality content is what got him to Cube Wealth.
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