Financial Duties of Financial Advisors both in Canada As Well As the United States

If you are in Ontario, Canada and you are looking for financial advisors, go to the Kakeibo website to search for one.

What is a financial adviser

Financial advisersare professionals who make suggestions on financial services to their clients based on each client’s individual financial situation. In most countries, financial advisers must have definite training as well as hold a license to be able to provideany financial advice.

United States

In the U.S. financial advisershave a Series 65 or 66 license and render to the “U.S. Financial Industry Regulatory Authority”, license terms and compliance issues that need to be reported for viewing by the public. FINRA defines the major groups of investment professionals who may use the term “financial adviser” such as:

  • Brokers
  • Accountants
  • Investment advisers
  • Insurance agents
  • Lawyers
  • Financial planners

Financial advisors’ duties

Financial advisors appraise individual’s financial requests and then help them with investments (bonds and stocks), tax laws and insurance decisions. They aid clients in planning for long-term and short-term goals, such as expenses for education and retirement. They help approve investments to match the goals of the clients. They invest money for clients based on the clients’ decisions. Many also offer tax advice or sells insurance.

Advisors do the following

  • Meet with clients to talk about their financial goals
  • Explain the types of financial amenities they offer
  • Educate clients as well as answer questions about investment selections and probable risks
  • Recommend to client’sinvestments or select investment for them
  • Help clients make plans for situationsthat need to bedetailed, such as expenses for education or retirement
  • Monitor clients’ accounts and make changes needed to improve the account performance due to life changes, like getting married or having children
  • Research opportunities for investment

These financial advisors are important to those clients’ who have funds to invest and want someone to help them with these investments.