A financial advisor provides consumer with financial conselling or guidance for remittances. Financial counsellors (sometimes itemize as counsellors) can render a wide array of facility, such as financial management, tax planning. Gradually, financial advisors work as a “one-shop-shop” offering everything from portfolio management to asset insurance.
Although, a supreme clash can be made: that is, the financial mentor should actually give guidance and advice. A financial advisor can be separated from a stock broker who simply sets up a client trade or a tax accountant who is already planning to return tax without providing advice on how to increase tax benefits.
In addition, what could go wrong as a financial advisor in some cases could simply be a product seller, such as a stockbroker or a life insurance agent. A true financial advisor should be educated, qualified, experienced, financially inclusive, as opposed to serving the needs of a financial institution by increasing sales of certain products or making money from commissions from sales.