What exactly does a financial advisor do?
Question:
Answer:
Based on my experience - almost nothing. Well, unless you count LOSING money. For most people, financial planning has been made immensly easier in the last few years through internet resources and new, conservative investment vehicles, such as ETFs. There are a couple "golden rules" (such as - put money in riskier investments when you have more time to ride out market fluctuations). Once you have a handle on the few guidelines, you will probably be better off w/o the financial planner. Especially when you account for their fees...
Suppose to give advice as to what stocks/bonds, etc. to purchase. I've found you can do this yourself. Check with friends, co-workers to see who they recommend (if anyone).
They give advise on how to deal with financial such as debt or loan, and how much money you should spend to avoid from getting to debt trouble. What to do with your money when you die?
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