ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -A financial advisor is a professional who provides expertise for clients’ decisions around money matters, personal finances, and investments. Financial advisors may work as independent agents or they may be employed by a larger financial firm.

Detailed explanation-2: -Personal financial advisors assess the financial needs of individuals and help them with decisions on investments (such as stocks and bonds), tax laws, and insurance. Advisors help clients plan for short-and long-term goals, such as budgeting for education expenses and saving for retirement through investments.

Detailed explanation-3: -As market conditions change, your advisor can help you review your goals and portfolio and adjust if and as needed, whether to rebalance your portfolio, revisit your risk tolerance, or take advantage of potential investment or tax opportunities.

Detailed explanation-4: -Common names for investment advisers include asset managers, investment counselors, investment managers, portfolio managers and wealth managers. Investment adviser representatives are individuals who work for and give advice on behalf of registered investment advisers.

Detailed explanation-5: -“Financial advisor” as a general term includes many types of professionals, such as stockbrokers, insurance agents, money managers, estate planners, bankers, and more. An investment advisor is a type of financial advisor who specializes in securities.