What actually does a financial consultant do?

Re: What actually does a financial consultant do?

Financial consultants can do a number of things including investing, budgeting, setting money for different ventures, or retirement.

I think they can be helpful for so many reasons. Since money drives most businesses (both costs and income) it is important to know where and how every dollar goes and does.

Re: What actually does a financial consultant do?

A good financial planner will give advice as to all of the following:

What you need to differently
How much you need to save
What types of retirement accounts to use (IRA, ROTH, 401(k), etc.),
What type of mortgage you should have
What type and how much insurance you need
How much to keep in your emergency fund
What changes might improve your tax situation
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Re: What actually does a financial consultant do?

Financial planners are responsible for assessing your financial situation and putting a plan in place that will meet your financial goals. She/He knows your financial status.

Re: What actually does a financial consultant do?

many people wonder whether they need the services of a financial consultant. While any manner of financial planning is better than no preparation at all, hiring a consultant can be an expensive proposition and should be carefully investigated beforehand.
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Re: What actually does a financial consultant do?

Financial consultant is quite a generic term. Different Financial Consultants will provide different services whether it is Tax, Due Diligence, Management Accounting, Bookkeeping, Pension advice or cashflow advice. Before you hire a consultant make sure you know exactly what you want from them.

Re: What actually does a financial consultant do?

Neil is right it can include everything from investment advice to tax planning to selling financial products. The main thing is when you are searching for a consultant be sure to find out what services the consultant offers, what his or her approach to financial planning is, and what kind of qualifications he or she has.