Benefits of Hiring a Good Financial Advisor

Benefits of Hiring a Good Financial Advisor

1.   I don’t have a Million RMB/GBP/EUR or whatsoever my “local currency” is to invest.

2.    My Savings Account is the only platform for me to save for my future.

3.    The Stock Market is like a casino, I would rather go to Vegas or Macau. 

4.    I’m too young to think about my future, I need to enjoy my life.

5.    An early mortgage means an early way to get into debt.

6.    The best financial advice I can get is solely from my bank.

7.     I do not need to spend money to save money.

These are the genuine questions,queries, statements or rather myths that I have busted while dealing with clients. Taking financial advice does indeed cost money, but when it comes to making certain life-changing financial decisions, it might save you money in the long run.

For example, Google paid 3% tax on revenues of £7 Billion GBP in the UK instead of the usual 20% tax rate. They effectively paid £210 million instead of a whopping  £1.4 Billion. Do the maths and see how tax laws were utilized as a mechanism to save billions in tax liabilities.

If you’re looking at getting into complex financial products, do keep in mind that there are some money-savvy people who see the value in paying for an advisor to ensure that they get it right. Throughout your life you are likely to need different financial products. A financial advisor can help you make the right decision about the best products for you. Financial literacy takes time and years to develop, to comprehend the complexities of the financial markets, so it pays to seek financial advice from a professional whose rather knowledgeable even if one’s initial confidence suggests otherwise.

If you’re thinking of investing in equities, shares, unit trusts and other investments, you may feel confident to buy these directly from a broker or funds without seeking advice. However, these products are harder to understand than cash savings products, and by not taking advice, you run the risk of losing your hard earned savings or other forms of income. The biggest risk you run is buying a financial product that’s not suited for you because you didn’t completely understand the complexities or the consequential risk factors. This would all have been avoided if an independent financial advice had been sought prior to the investments made.

  • Do you have the time to do the research? Most people know how to earn money, but not necessarily how to manage money.

  • Do you have much financial experience, knowledge or skills when it comes to investing?

  • If things go wrong, are you comfortable in taking responsibility for any bad investing decisions?

If the answer to any of the questions above is  a ‘No’ then seeking financial advice might beyour best option.

At Univesco,we assist our clientele in planning for the long term, our research encompasses many major markets with comparison tools and we only recommend investments, products, and strategies that are tailor made and suitable for the client themselves. Among many other benefits of utilizing Univesco’s services, the major ones are guidance on developing an overall investment strategy, asset allocation, minimizing taxes, rebalancing, and structuring.

We believe, the best financial advisors are able to keep their client’s fears and emotions in check by providing steady, fact-based advice and reassurance when the markets get wobbly or crazy such as the ones experienced in March 2020.

Small-and medium-sized companies, usually resist in hiring an independent advisor due to cost constraints. This is not a smart move. Hiring an experienced advisor may not be necessary for every small company, but it will definitely provide an advantage over their competition. Financial advisory is not as simple as some people may perceiveit to be. It’s not only a procedural job rather it necessitates a correct understanding of national tax laws, regulations and experiences in the application of local tax policies. In other words, it’s a professional job for which experience and care is at the upmost importance.
Most people usually don’t realize that they have made grave mistakes until it’s too late!

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