Very often people have money that they want to invest in order to have income from that money, but they may not know a lot about how to invest or have the time to manage a large investment portfolio. In addition, they may not be sure of what amount of their total capital needs to be invested in stocks and bonds, savings and cash accounts, insurance, property, or even direct investments in businesses. Charitable donations and trust funds are also considerations. For this reason, many people need to have a good investment advisor.
What is a Good Investment Advisor?
A good investment advisor needs to understand the stock market, other investment opportunities, insurance products, and tax laws as they pertain to wealth management. Charitable donations can have tax advantages, and may be personally attractive to many people for personal reasons. Anyone who wants to contribute to charities by any significant amount needs to know how tax considerations can increase the effectiveness of their gifts.
Every investment portfolio needs to be designed to fit the personal needs of the individual who owns it. If you are planning to retire in 20 years, your investment needs are different from the needs of a person panning to retire in one year. Are you concerned about providing for heirs, do you have no heirs, or are any heirs financially independent? Perhaps you have capital that could produce income to supplement your regular income. These are all reasons to have a competent financial advisor.