January 27, 2023

4 Types of Financial Experts and How They Can Help You

2 min read
4 Types of Financial Experts and How They Can Help You

Many financial experts in Abu Dhabi can help you manage your money and make wise investment decisions. Investment advisors handle your portfolio, and stockbrokers buy and sell stocks. A tax expert can help you reduce your tax liabilities and maximize your return on investment. Tax experts assess your withholdings and inform you of tax credits, deductions, exemptions, and other strategies that can reduce your tax burden.

Investment consultant:

An investment consultant provides financial guidance to individual clients. Depending on the needs of their client, they may work with large amounts of capital, a specific investment objective, or a mix of both. Investment consultants help clients choose the appropriate investment products and services and keep track of market trends. Moreover, investment consultants also assist their clients with tax compliance. One of the primary duties of an investment consultant is to monitor the performance of an individual client’s portfolio and make recommendations to improve it.

Personal financial specialist:

Personal financial specialists have extensive knowledge in the field of finance. Whether they specialize in retirement planning, estate planning, insurance, or investments, a personal financial specialist helps clients plan their financial future holistically. Their education and training allow them to see the “big picture” and understand how tax rules affect financial decisions. A personal financial specialist can also explain strategies for debt management and explain the benefits and risks of investments. These professionals can also produce reports that highlight their clients’ financial progress.

Debt counselor:

A debt counselor has many duties. One of them is to negotiate with creditors on behalf of the debtor. Debt consolidation and mortgage refinancing are examples of ways to enhance your bargaining power. Debt counselors are well-connected in the industry and have a wealth of experience in dealing with creditors. By offering up-front payments and providing the required documentation, a debt counselor can help clients make their repayments and gain a lower interest rate.

CFP:

A CFP must perform a financial analysis of a client’s financial situation. In this process, they must evaluate each client’s assets, liabilities, income, expenses, and education plans. They must also identify conflicts of interest and determine how much risk a client is comfortable taking. Ultimately, the CFP must outline all recommendations in a comprehensive financial plan, including the costs and benefits of each recommendation.