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Jeffrey Arsenault: What it takes to be an investment adviser 8/6/2014 5:51:18 AM
Investing generally involves risks and if one is not careful about it, he may lose his hard-earned money due to poor judgment and lack of knowledge.
To increase his chances of success, an investor may take the services of a financial or investment adviser, one who is familiar with the financial industry. It may also depend on the kind of person whom you will choose as investment adviser.
But what exactly is an investment adviser and what does he do?
Advisors who limit their help to investment choices are often called Investment Advisors or Asset Managers. Their task is to put your money or your long term savings in the proper investment strategy where it will work or earn more.
Financial planners are advisors who generally help people with cash flow, savings, lifestyle spending, investment planning, and retirement and college planning, among others. Their job is to ensure that your financial structured to meet your future spending needs.
Wealth managers are advisors who assist wealthy individuals in estate planning, risk management, and tax planning, among others. They act as the steward of your wealth.
Hence before deciding on getting the services of a financial professional, it is important to know first what services you need, what are the services offered by the professional, what they can recommend, how much their services cost and how the adviser will be paid.
About the author: Jeffrey Arsenault, a finance and investment expert and the principal partner of New York-based Old Greenwich Capital Partners, an investment managing company he founded in 2005 that uses a specially-designed, customized platform to help clients manage their accounts. He specializes in financial management, particularly hedge funds, portfolio management, mutual funds, and investment banking.
