Financial Safety Advice

The concept of financial planning seems to have yet achieved enough prominence in investor meetings with financial advisors. However, financial planning seems to be the key tool to address the reality that lies ahead, and that somehow we seem to want to ignore. In this sense, we can not forget the aging process facing society and that, as experts say, have serious difficulties in sustaining the pension system as we know it today.

Hence, financial planning plays a key role in the smart investment. Thanks to financial planning your financial advisor can build for you a “plan” to follow that allows you to accumulate the amount needed to meet expenses happily in the future, and also enjoy the much deserved time off, after years of working. Through financial planning can determine the optimal amount of savings for the investor given their personal and, from there, you can decide which are the most appropriate investment vehicles to achieve your goal, but first, determine the customer’s risk profile, in order to verify the degree / level of exposure to equity markets.

Also, note that financial planning is not only a tool used to help you prepare for retirement, but can be applied to any project that an investor should keep in mind, for example, expanding a business in ten years, to fund Masters of their children abroad in five years, and so on.

So without further ado, feel free to good advice from professionals, to help you build a customized plan that most closely matches your needs. And of course, do not forget to keep a close relationship with your financial advisor to be informed of the progress of their investments at all times.

EFPA yesterday in an interview published to a server, talking about what sense from a financial advisor to use social networks and if we are in a good time to enter this field. While writing the answers of the interview, I thought it would be interesting to launch an open debate also through this blog and who you please, join in the conversation.

As I said in the interview, I think the possibilities are enormous. In Unience where EFPA have a group you can join with this link, we know success stories of consultants who are using these new communication tools to get closer to customers or potential customers. And also commented on the responses, the trend in the U.S. Stomp: in a survey carried out in an association of financial advisors of Denver, 60% said they had achieved at least 16 years potential for their involvement.

Most advisors have only used general networks so far, like LinkedIn, where you can manage your address book, asking clients for recommendations, participate in debates in the sector in the corresponding groups … or other more popular as Twitter or Facebook where you can generate authority regarding financial issues by sharing knowledge.

But Unience believe that his action still makes more sense to specialized social networks, in which advisers also have specific tools that allow them to have a better relationship and communication optimimizar. For example, if the customer uses our financial aggregation service Unience actual portfolios, then the assessor may share that information, putting a person of confidence in their preferences. Read the rest of this entry →

A financial adviser should be like a doctor, that is, the professional who is personally committed and long-term health of the patient and his family. The first time a doctor treats a patient, before making a diagnosis and recommend treatment, makes an initial interview to understand their history, chronic conditions, habits and customs problems. You can also tell analysis and studies.

Once you have all the information you can make a diagnosis, send medication or suggest you change your habits. You may also recommend surgery and follow its evolution before and after intervention. After a while, there will be further consultation to find out how its operation and how is your health. The function of a financial advisor, who can be a person or financial institution, is to follow all these steps but to maintain the health of your finances. A true financial advisor will focus on the objectives, financial situation and needs before the recommendations. If someone comes offering big profits and profitability, be careful, it is a seller.

Many people believe that an adviser should recommend where to invest to make money quickly, like a miracle. The financial advice is not that.

It is a long-term plan intended, primarily evaluating the client’s objectives, resources, time and the risks you are willing to assume. Therefore, in the initial interview, the counselor will evaluate what you want against what you currently have and how they are driving. (For this, the consultant will investigate how they are managing their savings and investments, projects and future goals, what goods you wish to purchase, at what age and how he wants to retire, do you think your family in case of death, inheritance, what economic future you want for their children, etc..). Read the rest of this entry →

Professionalism and discretion are some of the conditions that must be who advise their personal finances.

If you feel that the fiscal deficit, the level of investment in Colombia or the decision of the Central Bank to raise interest rates does not affect your pocket, you need a financial advisor. Can not forget that individuals, like companies, are engaged in an economic system whose changes can affect your finances. That’s why it’s worth to devote time and resources to carry out a proper financial planning.

Remember, people are always making financial decisions (which sometimes can be quite complex) and approach a bank, buying a new home, saving for retirement or education of children, but only in very few cases planned to find the most efficient way to manage our money.

In Colombia, just consult a financial advisor in other countries is a registered and regulated profession. However, this has begun to change on behalf of pension funds and the Internet. The growing interest in the behavior of financial markets and their impact on personal finances has generated an increased need for professional preparation of financial advice as some institutions are making great efforts. But what is a financial advisor? How to choose and recognize a good financial adviser?

This program is presented as a preparatory training period to achieve the EFA Accreditation (European Financial Advisor). The title of the European Financial Advisor (EFA ®) is a big recognition at European level in regard to financial advisors, and is awarded by the EFPA (‘European Financial Planning Association”).

Today, investors need professionals who act on their behalf at the time of investing in the markets in which they intend to enter. That is why they demand, with increasing force, security guarantees not only legal but also of quality and professionalism in the financial advisory service.

Thus it is established that to provide the financial advisory service must be independently registered with the CNMV. Among the requirements set down for such registration have experience in financial advisory and investment specific training. This last point is particularly relevant to the EFA to be recognized accreditation for this requirement by the CNMV.

The fundamental objective of the training program is needed to achieve EFA Accreditation, which certifies the professional competence to carry out duties of board, management and financial advice to individuals in private or personal banking, financial services oriented to individual client and any professional function banking Read the rest of this entry →