Orientation in the tangle of financial products is not fun and people from other fields usually need an expert. There is nothing easy not to turn to a financial advisor. How to get to know a quality financial advisor and what correct administrative steps must a financial advisor prove?
A financial advisor should be a person who can orientate himself in the offer of insurance, investment and other financial products. The purpose of financial advice should not be just to recommend financial products, but the creation of personal financial resources, which are formed by individual products in the field of insurance, investment, savings and possibly also incl. In the field of financial consulting, similarly to other fields, there are three times and three mountains. Let us first consider the duties of the administrative department that each financial advisor must submit if the client is interested.
Broker x financial advisor, or both
One of the pillars of a complex personal financial full must be connected. What should a financial advisor in the field of insurance meet? If we look at the Act on Binding Intermediaries, we will find out that intermediary insurance is a professional activity that leads in the previous proposal for the conclusion of insurance contracts and other preparatory and related activities. At the same time, such an intermediary helps his client to first collect and settle any claims from insurance contracts.
This is a relatively professional activity and if your advisor offers intermediary insurance, you should invite him to submit a registration in the Register of Interconnection Intermediaries, which is run by the Czech National Bank. If the consultant is not registered, he cannot mediate the insurance product or provide accompanying service.
I can advise me which product best suits your personal financial performance, but you yourself must go to the insurance company, where you will conclude a contract. It follows from the above that the first question in the field of insurance should be your advisor on whether he is an insurance intermediary or not. If so, its offer of services in the field of insurance is equally equal and it can represent you in the insurance industry.
Investin broker check him opt in the NB registry
The appreciation of the client’s free financial resources is one of the basic pillars of personal financial resources. The salary here is basically analogous to the situation as for connecting intermediaries. A financial advisor can become an investment intermediary, which is a service that provides an initial and initial instruction for investment securities and collective investment securities.
In order to obtain the right of an investment intermediary, it is necessary to meet the conditions of the National Bank, which, after fulfilling the conditions, will enter the licensed investment intermediary in the Register of Investment Intermediaries. It is available on the website of the Czech National Bank. You can see for yourself whether a specific financial advisor is an investment intermediary.
In this case, do not give the adviser or investment intermediary the pension that should be the subject of the investment. Even though it may not happen today, it is impossible to rule out a dishonest hunter who tries to take out the pension for investment under the guise of a professional service. This is a clear counter-first and in practical life even a licensed intermediary may not take the pension from the client to use for the investment. The role of the investment intermediary is in practice instructed by investment institutions in practice most often to investment companies managing open-ended funds.
Finann consulting open paid or hidden paid business
In addition to the mentioned intermediary roles, the financial advisor also works in the area of products for the creation of financial reserves (for example, pension insurance) or in the area of equal products (mortgages, mills from building societies). Intermediate product and advice in this area is subject to the law of business and you will find the right to a specific advisor in the trade register.
After the administrative knock of the advisor, it is very difficult to ask how to reward him. As in real life, there is nothing free and the counselor wants to pay pensions to his clients. In practice, there are basically two types of financial advice paid and unpaid. Of course, it must seem better to the client, but it may not be an overall win. What’s behind unpaid advice?
Advisers who provide free advice realize their income from commissions of financial institutions. For example, life insurance at a specific insurance company will result in a relatively interesting commission to the consultant. The disadvantage of this form of consulting is, of course, the tendency of consultants to prefer products with a high commission over products with a low commission.
In addition to unpaid counseling, there is paid counseling, where the client will forward that, for example, for the compilation of a personal financial benefit, he will be obliged to pay a specific amount. The contracted product itself can then be used as an intermediary dog for consultants or you can be outside this model. With paid consultancy, there is no doubt that there is less danger on the part of the consultant that, due to the appropriate commission system, he will prefer products that are suitable for the client, but the financial status of the subsidized products.
Dependence of a financial advisor on one institution
There are consultants on the market who do not stand up with a last name. Independence in this field means that the financial advisor can mediate the products of two or more financial institutions. It is advisable to clarify this question immediately during the water interview, which does not mean that a financial advisor who works for only one institution may not automatically be good. However, the client should know that the recommended pension supplement is only one in terms of the offered options, but there are x other products of this type on the market.
It is best to ask a good advisor
There is very strong competition and financial turmoil among financial advisors. Whenever he can present himself today as the best and moreover, he is often driven by slacks in the area of presented abilities.
For this reason, I recommend that you want to find a professional consultant to turn to a good friend who will use the services of a consultant. Quality financial advice is best performed by the company. If the advisor fills someone with an unsuitable product, the relationship between the client and the advisor will be disrupted and terminated in the near future.
A serious advisor is known for his long-term relationships with his clients. If a well-known praise is given to a specific consultant and reiterates his argument, for example, about the five-year history of this relationship, then you can be sure that it is a hunter building long-term relationships with clients open to quality work.