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World Financial Group Business – Learn to Grow Your Business

World Financial Group Business has already achieved a lot of success and has secured a higher place in category of financial services companies. World Financial Group Business was formed by Hubert Humphrey, the founder of the well known World Leadership Group. He acquired selective assets from AEGON to form this World Financial Group. It is based in Duluth, Georgia. Mission goal of WFG Business is to “Serve the financial requirements of individuals and families which are ignored by the financial service industry”. This financial organization is totally dedicated to provide financial education to the middle class, so they can learn about financial concepts and solutions to earn better incomes.

World Financial Group Business or WFG in short, markets in investment, insurance and mortgage products via many different associates in Canada and USA. In USA, WFG directly manages its insurance and mortgage service and World Group Securities Inc. manages its investment line of business. Investment Advisors International (IAI) is also founded by WFG and it is an advisory firm that actively manages the clients account by third party money managers.

With World Financial Group Business you can be your boss. All you have to do is pay only $100 initially to start your own World Financial Group Business. Unlike other insurance and financial organizations who offer their products and services from only one provider, as WFG associate you can offer many different products. And off course you have to make some effort once you are part of this group. You can start with some kind of research as World Financial Group is mainly a network marketing based system. Main products that you will sell for WFG will be insurance or financial investment packages.

In this whole process the most important part is your team. Your potential rewards totally depend upon the efforts of you and your team. Your World Financial Group reward can be a renewal commissions on many different products offered by outside providers. You can easily offer various financial services as Mutual funds, Life Insurance and Annuities once you register for WFG. After starting your own World Financial Group you can reach your dreams and also help others by educating them on financial fundamentals.

World Financial Group Business also provides you great support system. It is very important to learn effective marketing skills for successful online marketing. You can learn those either from them or from some other source. They have field monitoring for your business so that whatever small difficulties you face in the field are solved immediately. With the help of their many innovative training programs you can improve your business skills. Another great feature of this World Financial Group is that it has a special Business Format System or BFS. This is core set of principles of WFG’s Turnkey Marketing System. As official representative of the WFG, you can offer your clients different security related products and services.

With several financial services a World Financial Group associate can have best possible solution for their clients. It can be many different forms such as insurance. Investment products or even lifestyle change products which are offered through various registered brokers – Dealers. As part of World Financial Group business, you can achieve your dreams and also can help others to achieve their.

Branches of Accounting, Uses of Accounting and Limitations of Financial Accounting

Accounting vs. Book-keepingBook-keeping concerns itself with the recording (correctly and in a set of books) of those transactions that result in the transfer of money or money’s worth. Whereas accounting is comprehensive in perspective. It extends to classifying, summarizing, presenting and even analyzing accounting information .

Accounting vs. Accountancy

Body of knowledge (consisting of principles, postulates, assumptions, conventions, concepts and rules) governing the science of recording classifying and analyzing financial transactions is accounting. Whereas the practice and art of the science of accounting is termed as accountancy.To meet the ever increasing demands made on accounting by different interested parties (such as owners, management, creditors, taxation authorities etc.) the various branches have come into existence. Financial AccountingThe object of financial accounting is to ascertain the result (profit or loss) of business operations during the particular period and to state the financial position (Balance Sheet) as on a date at the end of the period.

Cost Accounting

The object of cost accounting is to find out the cost of goods produced or services rendered by a business. It also helps the business in controlling the costs by indicating avoidable losses and wastes.Management AccountingThe object of management accounting is to supply relevant information at appropriate time to the management to enable it to take decision and effect control.In this web primer, we are concerned only with financial accounting. The objects of financial accounting as stated above can be achieved only by recording the financial transactions in a systematic manner according to a set of principles. The recorded information has to be classified, analyzed and presented in a manner in which business results and financial position can be ascertained.

Uses of Accounting

Accounting plays important and useful role by developing the information for providing answers to many questions faced by the users of accounting information.

(1) How good or bad is the financial condition of the business?

(2) Has the business activity resulted in a profit or loss?

(3) How well the different departments of the business have performed in the past?

(4) Which activities or products have been profitable?

(5) Out of the existing products which should be discontinued and the production of which commodities should be increased.

(6) Whether to buy a component from the market or to manufacture the same?

(7) Whether the cost of production is reasonable or excessive?

(8) What has been the impact of existing policies on the profitability of the business?

(9) What are the likely results of new policy decisions on future earning capacity of the business?

(10) In the light of past performance of the business how it should plan for future to ensure desired results ?

Above mentioned are few examples of the types of questions faced by the users of accounting information. These can be satisfactorily answered with the help of suitable and necessary information provided by accounting.

Besides, accounting is also useful in the following respects :-

(1) Increased volume of business results in large number of transactions and no businessman can remember everything. Accounting records obviate the necessity of remembering various transactions.

(2) Accounting record, prepared on the basis of uniform practices, will enable a business to compare results of one period with another period.

(3) Taxation authorities (both income tax and sales tax) are likely to believe the facts contained in the set of accounting books if maintained according to generally accepted accounting principles.

(4) Cocooning records, backed up by proper and authenticated vouchers are good evidence in a court of law.

(5) If a business is to be sold as a going concern then the values of different assets as shown by the balance sheet helps in bargaining proper price for the business.

Limitations of Financial Accounting

Advantages of accounting discussed in this section do not suggest that accounting is free from limitations.

Following are the limitations:

Financial accounting permits alternative treatmentsAccounting is based on concepts and it follows ” generally accepted principles” but there exist more than one principle for the treatment of any one item. This permits alternative treatments with in the framework of generally accepted principles. For example, the closing stock of a business may be valued by anyone of the following methods: FIFO (First-in- First-out), LIFO (Last-in-First-out), Average Price, Standard Price etc., but the results are not comparable.

Financial accounting does not provide timely information

It is not a limitation when high powered software application like HiTech Financial Accenting are used to keep online and concurrent accounts where the balance sheet is made available almost instantaneously. However, manual accounting does have this shortcoming.

Financial accounting is designed to supply information in the form of statements (Balance Sheet and Profit and Loss Account) for a period normally one year. So the information is, at best, of historical interest and only ‘post-mortem’ analysis of the past can be conducted. The business requires timely information at frequent intervals to enable the management to plan and take corrective action. For example, if a business has budgeted that during the current year sales should be $ 12,00,000 then it requires information whether the sales in the first month of the year amounted to $ 10,00,000 or less or more?

Traditionally, financial accounting is not supposed to supply information at shorter interval less than one year. With the advent of computerized accounting now a software like HiTech Financial Accounting displays monthly profit and loss account and balance sheet to overcome this limitation. Financial accounting is influenced by personal judgments’Convention of objectivity’ is respected in accounting but to record certain events estimates have to be made which requires personal judgment. It is very difficult to expect accuracy in future estimates and objectivity suffers. For example, in order to determine the amount of depreciation to be charged every year for the use of fixed asset it is required estimation and the income disclosed by accounting is not authoritative but ‘approximation’.

Financial accounting ignores important non-monetary information

Financial accounting does not consider those transactions of non- monetary in nature. For example, extent of competition faced by the business, technical innovations possessed by the business, loyalty and efficiency of the employees; changes in the value of money etc. are the important matters in which management of the business is highly interested but accounting is not tailored to take note of such matters. Thus any user of financial information is, naturally, deprived of vital information which is of non-monetary character. In modern times a good accounting software with MIS and CRM can be most useful to overcome this limitation partially.

Financial Accounting does not provide detailed analysis

The information supplied by the financial accounting is in reality aggregates of the financial transactions during the course of the year. Of course, it enables to study the overall results of the business the information is required regarding the cost, revenue and profit of each product but financial accounting does not provide such detailed information product- wise. For example, if business has earned a total profit of say, $ 5,00,000 during the accounting year and it sells three products namely petrol. diesel and mobile oil and wants to know profit earned by each product Financial accounting is not likely to help him unless he uses a computerized accounting system capable of handling such complex queries. Many reports in a computer accounting software like HiTech Financial Accounting which are explained with graphs and customized reports as per need of the business overcome this limitation.

Financial Accounting does not disclose the present value of the business

In financial accounting the position of the business as on a particular date is shown by a statement known as ‘Balance Sheet’. In Balance Sheet the assets are shown on the basis of “Continuing Entity Concept. Thus it is presumed that business has relatively longer life and will continue to exist indefinitely, hence the asset values are ‘going concern values.’ The ‘realized value’ of each asset if sold to-day can’t be known by studying the balance sheet.

Credit Counselling Service – For the Advice You Need to Manage Your Debt

Credit counseling services are intended to inform you about personal finance, credit, money, debt and to assist you in learning ways to use credit wisely.

Financial services are about more than just fixing immediate financial problems. They provide you with credit knowledge so you can plan and work towards a prosperous and financially rewarding outcome. When you understand how you can change your spending habits to positively affect your financial outcome, you will wonder why it took you so long to seek debt help.

Real Credit Counselling involves analyzing your current income, expenses and your debt, then working with you to assist in creating a budget that is based on your personal needs and your financial goals.

Financial advice will be offered specifically to improve your current financial situation and to improve your financial well-being. You and your personal credit counsellor will determine the best credit solutions for your current financial situation. Together you will make important financial decisions, such as, what expenses can easily be eliminated and/or reduced (perhaps trading down to a cheaper car or going out to eat less frequently) from your budget. After a thorough evaluation of your finances credit counselling will help you to put together a budget that you are comfortable with and that works for your money situation.

Once you’ve set the budget you will know if there are enough funds to steadily get your debts under your control again.

The easiest way to fix your own credit, (especially if your debt load is well below $10,000 and you have the personal discipline not to continue to get into debt) is through your own efforts. Try speaking with your creditors in an attempt to work with them. Creditors are aware that receiving some money is much better than receiving none.

However, if you feel you are unable to work with creditors by yourself don’t worry, you can always go to a Licensed Credit Counseling agency who will do all of the above for you and more! Licensed Independent Credit Counselling agencies will work with you to create a repayment schedule based on your budget and your ability to repay. This plan may include a reduced payment schedule to creditors, a decrease in interest charges, elimination of late fees and over-draft fees, all adding up to big savings for you. These saving will help you to get out of debt faster, with less damage to your credit rating!

Global Financial Crisis

The financial distress of the last two decades has revived interest on the question of the stability of the financial system. On the one hand, the “pessimist” view, associated primarily with Minsky argues that not only that the financial system is prone to such crises (“financial fragility” in Minsky’s terms) but also that such crises are inherent on the capitalist system (“systemic fragility”). On the other hand, the monetarists see the financial system as stable and efficient where crises not only are rare but also are the fault of the government rather than the financial system as such. For many others, however, financial crises may be largely attributable to the financial system but they are also neither inescapable nor inherent in a capitalist economy.

Therefore, the issues we have to examine here are how common are such crises from a purely historical perspective; to what extent we can identify a common pattern between all crises which would suggest an endogenous process that leads to crises; a theoretical framework which explains both the process and the frequency of such crises and finally examine the extent to which these financial system characteristics that make it prone to crises are inherent on the capitalist system.

The first question, i.e. the frequency of financial crises partly depends on our definition of crisis. A financial crisis has been defined by Goldsmith as “a sharp, brief, ultra-cyclical deterioration of all or most of a group of financial indicators – short-term interest rates, asset (stock, real estate, land) prices, commercial insolvencies and failures of financial institutions”. The question here is of what intensity and/or intersectoral spread should a financial disturbance be in order to be considered a crisis.

In any case, it appears that though major crises leading to the (near) collapse of the financial system are quite rare (the only one being 1929 in the US), more moderate ones are frequent enough to allow the argument that the financial system does suffer from a certain degree of fragility. In the post-war period, after an almost complete absence of crises until the mid 60’s, the financial system has been at strain on many occasions including the 1966 credit crunch, the 1969-70 and 1974-75 crises, the 3rd world debt problem of the early 80’s and the stock market crash of 1987.

Again a casual observation of financial crises will find a wide variety of different causes and forms as each crisis seems to have occurred in response to a unique set of accidents and unfortunate coincidences. But quoting Kindleberger “for historians each event is unique. Economics, however, maintains that certain forces in society and nature behave in repetitive ways”. Indeed, it is not difficult to distinguish a rough pattern which has been graphically presented by Minsky : crises tend to occur at the peak of the business cycle following a period of “euphoria.”

This has probably been initiated by some exogenous shock to the macroeconomic system (“displacement”) which results in new profit opportunities. The boom is fuelled by an expansion of bank credit as new banks are formed, new financial instruments are introduced and personal credit outside the banks increases. During that period there is extensive “overtrading”, a not very clear concept which generally refers to speculation for a price rise, or an overestimation of prospective returns due to euphoria. This stage is also often referred to as a “mania” emphasising its irrationality and “bubble” predicting the collapse.

Eventually, some insiders decide to take their profits and sell out and the increase in prices begins to moderate. A period of “distress” may then occur until speculators realise that the market can only go downwards. The crisis may be precipitated by some specific signal such as a bank or firm failure or a revelation of a swindle; the later are quite frequent in such circumstances as people try to escape the imminent collapse. The rush out of the real or long term assets (“revulsion” in Minsky’s terms) lowers the prices of these real assets which were the object of the speculation and may develop into a panic. The panic continues until either the price falls so low that people are tempted to keep their illiquid assets or a lender of last resort intervenes and /or manages to convince the market that money will be made available in sufficient volume to meet the demand for cash.

Minsky, unlike many others who otherwise accept much of his model, believes that this process will always result to a crisis. Minsky classifies the demand for credit to “hedge finance” when cash receipts are expected to exceed the cash payments by a significant margin, to speculative finance” when, over some periods, expected earnings are less than payments and to “Ponzi finance” when the payable interest in the firm’s commitments exceeds its net income cash receipts; thus a Ponzi unit has to increase its debt to be able to meet its commitments. Once the Ponzi finance situation becomes general, a crisis is inevitable. Others, however, believe that there are ways to prevent Ponzi finance from becoming too widespread.

This model described above implies that crises are in part endogenous and in part outcomes of exogenous disturbances. Whether this conclusion supports the “financial fragility” view depends on the weights given to the disturbance and the endogenous part of the process. If the shocks necessary to set off this process are of exceptional size and rare then obviously the financial system can be thought as stable. Indeed it has been suggested that the recent crises have in fact showed the resilience of the financial system against huge adverse shocks. If instead the speculative forces are triggered by even relatively small shocks we can then blame the financial system even if the shock were exogenous.

This is both an empirical and theoretical issue. Empirically the euphoria-distress-revulsion process seems to conform with the experience of many crises such as the 1929 stock market crash, though many others have not gone through the whole process. Theoretically, we have to explain the assertions of the above model, namely for the existence of speculation and other “irrational” behaviour as implied by “manias” and “overtrading”.

Friedman rejects the notion of destabilising speculation completely as a destabilising speculator who bought when the price was rising and sold when it was falling, would be buying high and selling low so that he would be losing money and fail to survive. The answer may be that we can distinguish in two groups of people: the “insiders” who are rational and possess a lot of information and the “outsiders” who may not be “fully” rational and/or not possess adequate information. In such a world, the insiders have incentives to speculate and gain at the expense of the outsiders. We may also distinguish in the 2 phases of the bubble, a first “rational” one based on “fundamentals” and a second where agents’ behaviour is best described by ‘mob psychology’. Other possibilities are that agents may choose a wrong model of the economy or fail to anticipate the quantitative rather than the qualitative reaction to a certain stimulus, especially if there are time lags.

The question, however, is whether outsiders learn by experience though it can be argued that in rapidly changing complex financial markets such learning may not be very effective. Still “euphoria” arguments may be a little naive when applied, for example, to contemporary bankers who have access to a wealth of sophisticated advice. Indeed a criticism of the Minsky model is that though it might have been true of some earlier time, it is no longer so as big unions, big banks, big government and speedier communications have improved the stability and efficiency of the system. Hansen similarly argues that since the mid 19th century the main outlets of finance were the industrialists rather than the traders and merchants reducing the instability of credit. As we shall see later on, especially after the recent deregulations such arguments are questionable.

The monetarists further object to this theory because they argue that we should distinguish between “real” or “true” crises which were caused by changes in money supply and “pseudo-crises” which were not. For example, Friedman has argued that the 1929-32 crisis was largely due to a fall in the money supply. There is little reason, however, why the supply of money is more than an element in financial flows and stocks and indeed Friedman’s explanation of the Great Depression has been challenged.

Minsky has further argued that the fragility of the financial system relative to disturbances and speculator behavior depends on three factors: the mix of hedge, speculative and Ponzi finance in the economy, the levels of liquid asset holdings (what he calls “cash kickers” and Margins of Safety) and the way used to finance Investments of long gestation. He further argues that inherently and inevitably the capitalist system will result in the worst combination of the above as far as financial stability is concerned. Minsky bases such conclusions on what he calls a “Wall street economy” paradigm as contrasted to the essentially barter economy of the neoclassical paradigm. Minsky in fact traces his views on Keynes who also expressed his concern for an increasingly speculative and unstable financial system governed by animal spirits.

In an initially robust financial system, he claims, agents will overestimate the stability and success of the system and will increase their indebtedness (an “euphoric economy”), so that speculative finance will become the norm. Similarly overconfidence will make agents reduce their Cash Kickers although such margins are crucial for speculative finance units. These mean that the economy and the financial system become very sensitive to variations in interest rates. Finally, investment projects which have a long gestation period can be financed either sequentially or by prior financing. For similar reasons agents generally chose the risky way of financing projects sequentially which not only further increase the interest sensitivity of the financial sector but increases the volatility of interest rates themselves as they imply an inelastic demand for finance given sunk costs plus possible effects in the real economy through falls in Aggregate Demand. This, however, does not sound a very robust argument as one would expect that as Wallich argued, once the system becomes fragile, the agents will get scared and reverse the trend towards speculative finance.

Moreover, the Stiglitz paradox argues that destabilising speculation is an inherent characteristic of the system. A financial system is an information infrastructure and as any infrastructure being a public good poses problems in being paid by the price system. Hence “noise” is needed to remunerate active financial markets.

Here we could also mention that many of the disturbances which cause financial crises, may in fact, be endogenously caused by the capitalist system. Nevertheless, this argument cannot be stretched too far and on the other hand one could attribute the apparent greater instability of the financial system the last 2 decades to the hardships of the real economy (oil price shocks, stagflation). In this later case the financial system emerges as particularly resilient , certainly more so than the real economy. Indeed, many people such as Kindleberger, believe that financial disturbances are neither inherent in the system nor is it inevitable that they will develop into crises. Most concentrate on the issues of appropriate monetary policy, regulation structure and lender of last resort facilities.

Monetarists obviously support that a monetary rule is adhered though others, including Minsky, fear the consequences of high volatility of interest rates. The lender of last resort facility has generally proved to be quite effective in preventing financial collapse throughout the post-war period. The problem, however, is that it creates a moral hazard problem as agents are encouraged to be more risky. This problem may increase in significance in the future as the importance of the commercial banks relative to other financial institutions declines and for most of these institutions the moral hazard costs are considered to be much higher and lender of last resort protection is not generally widely available to them. Also in our increasingly globalised financial system, there is none really able and willing to play the role of the international lender of last resort; the collapse of 1929-32 is often partly attributed to a similar lack of lender of last resort as Britain was unable to play this role anymore and the US were unwilling.

The widespread deregulations of the last two decades have also attracted attention regarding their effect on financial stability. On the one hand, it is argued that the subsequent rationalisation not only increased efficiency, the quality and the variety of financial services but helped stability as well by for example allowing a better allocation of risk towards those who can bear it more easily. Others, however, point to the increased difficulties for conducting monetary policy, the increase in indebtedness, the increase in credit risk as business finance shifted towards securities and the greater freedom in speculative behaviour.

Furthermore, as Kaufman feared, completely liberated markets will increase instability by allowing crises to quickly spreading to other sectors and countries. In many respects, the Savings & Loans debacle is typical of the problems of deregulation: Though most people would agree that deregulation was long overdue, its timing (coincided with a crisis in the S&L industry which encouraged speculative behaviour) and the easing of “safety-and-soundness” regulation proved catastrophic. Indeed there is a significant group of economists who while support deregulation, strongly recommend the imposition of restricted safety and soundness regulations to increase the stability of the system.

If through either of the above instruments, crises can relatively easily be prevented or stopped then it is clear that they are much less dangerous and less important. Indeed, since one could include such government actions as part of the actual financial system, then one could conclude that the system endogenously prevents crises from occurring.

Concluding, I believe that the financial market has in fact shown remarkable resilience and adaptability in the face of the condition of the real economies, the shocks experienced and the rapid deregulation. The issue of financial instability is and should be a concern but probably the best policy towards that objective is to have a healthy and stable “real” economy. How to achieve this is indeed another question.

It may be useful to summarize the argument. A system of financial regulation was crafted out of the financial turmoil of the 1930s. It had two defining characteristics, the restriction of competition and government protection. This institutional structure was created in conformity with the concrete conditions at the time (low debt, high liquidity, low inflation, and low interest rates). It was successful in the postwar period in the United States in part because of that conformity. The high profit rates in the early postwar period also helped to create a situation in which no financial crises occurred.

Eventually, however, those conditions changed: debt increased, liquidity declined, profits fell, and inflation and interest rates increased. The worsening financial conditions in the later postwar period contributed directly to the reemergence of financial crises. The old institutional structure, rather than leading to stability and profitability for financial institutions, resulted in instability and financial difficulties in the context of these new conditions. Banks and thrifts found themselves in a difficult situation intensified by the tight monetary policy beginning in the early 1980s. Financial crises increased, as did failures of thrifts and commercial banks. Eventually the banks and thrifts searched for riskier, potentially more profitable, but ultimately more speculative areas of lending.


1.      Friedman, Milton and Anna J. Schwartz (1963), A Monetary History of the United States 1867- 1960, Princeton: Princeton University Press
2.      Gersovitz Mark, and Joseph E. Stiglitz. “The Pure Theory of Country Risk.” European Economic Review, 30 (June 1986), 481-513
3.      Goldsmith, R. W. (1987), Premodern Financial Systems: A Comparative Study, Cambridge: Cambridge University Press
4.      Kaufmann, Hugo. Germany’s International Monetary Policy and the European Monetary System. New York: Brooklyn College Press, 1985
5.      Kindleberger, Charles P. and Jean-Pierre Laffargue, eds. (1982), Financial Crises: Theory, History and Policy, New York: Cambridge University Press
6.      Minskiy, Hyman P. – ” A Theory of Systemic Fragility.” In Financial Crises: Institutions and Markets in a Fragile Environment , eds. Edward I. Altman and Arnold W. Sametz, pp. 138-52. New York: John Wiley & Sons, 1977b.
7.      Wallich, Henry C., et al. World Money and National Policies. New York: Group of Thirty, 1983
8.      Wolfson, Martin H., “The Causes of Financial Instability,” Journal of Post Keynesian Economics 12 ( Spring 1990): 333-55.
9. – (2009)

At US$89,000 Income Per Year, What Exactly Does a Financial Adviser Do? (Part I)

The actual role of a Financial Adviser is to assist their clients in making good financial decisions in order to meet their life goals. It involves a process of gathering client financial data, analyzing and then making recommendations so that the client can make informed choices. It does not stop there. The process should also involve implementation, periodic review and monitoring. This is the Practice role of the Financial Adviser, just like attending to patients is the practice role of a doctor. Can you imagine a doctor giving you medicine before proper diagnosis?

It’s a shame that most people’s contact with a financial adviser or financial planner has been limited to an eventual purchase of a financial product. There is more to it than that. The product-pushing practices have caused much disrepute to the profession.

To advise the client on financial matters, the financial adviser have to be well-trained in: budget and cash flow management, loans and financing, personal and property insurance, personal income tax, retirement, estate planning and investment planning.

While a single financial adviser may not know everything in detail, especially in the beginning, he/she should work towards a Certified Financial Planner (CFP) or equivalent, in order to provide an integrated financial planning solution for their clients. In areas of higher complexity, subject matter experts can also be called in to complement the financial planning process.

To guide the client through the data gathering or fact-finding process, the financial adviser will have to listen actively, not only to hard facts like income, expenses, assets and liabilities, he/she should understand soft facts like: the value the client places on money, their fears or frustrations in dealing with money and personal preferences about how their finances are to be handled. No two clients are the same.

At the recommendation stage, the financial adviser needs to assist the client in reviewing their situation and make an informed decision to implement any products or services. This requires that a good financial adviser be a good listener and communicator.

Another important aspect is the knowledge and application of various financial products. Insurance products can vary in design, pricing and application, from simple term policies, to more complicated products like Investment-linked policies. Other features like riders or benefits like retrenchment benefit are sometimes packaged into insurance products. Product suitability varies according to different life stage, risk tolerance, budget, financial circumstance and personal preference.

A good financial adviser should also be well-equipped with a comprehensive understanding of various products and able to match suitable products with client’s needs and wants.

If the financial adviser is offering investment advice, then he/she must also have some basic understanding of how the financial markets work, and be able to act as a counselor to their clients. As investment products are always evolving, a good financial adviser should also keep updated about what products will fit into their clients’ situation and market conditions.

In the next Part, we will talk about the Business aspect of being a Financial Adviser…