Local independent financial advisor is a business that gives financial planning advice to consumers based on the individual’s location. They do not work for any of the major institutions and their clients are often those with less expensive investments, or no investment at all.
The benefits of local independent financial advisor
- Lower fees, sometimes no fees at all
The local independent financial advisor will often charge the client lower fees than a big company. In addition, in some cases there are no fees at all. This is because the advisor does not work for a big corporation, therefore he does not have to charge his clients as much as he would otherwise if he did work for one of these corporations.
- More personalized service
A local independent financial advisor often gives more honest advice compared to another financial advisor that works at a major company because they are not motivated by money and they can take time out of their day to sit down with their clients and give them advice on what they need to do in order to reach their goals.
- More experience
The local independent financial advisor has much more experience in the field compared to some of the other advisors. The more time they spend being an advisor and working with clients gives them a lot more experience to draw upon when advising someone else.
- Less stress
The local independent financial advisor has less stress because he does not have to worry about a big corporation telling him what to do or how much to charge his clients. He will also have less clients that he has to deal with at a time, therefore, he will not be as stressed out during the work day.
- Better loyalty
It is easier for the local independent financial advisor to give you all of their attention if they do not work for a big company like the many of these advisors do. Therefore, they will be able to give you all of their attention and offer more personalized service than many other advisors that work for big corporations.
- Education
A local independent financial advisor has gone through a lot of schooling in order to receive the CFP (Certified Financial Planner) designation or the CFA (Chartered Financial Analyst) designation from the Institute of Chartered Financial Analysts or from the International Association for Financial Planning. This means that this advisor has spent a lot more time learning about how to properly give advice about investments and retirement plans to their clients. Many of these advisors also have other degrees like an MBA or a BA in finance, which also helps with their knowledge on how to properly give financial advice and guidance.
- Integrity
Everyone should see the local independent financial advisor as much more of a person than they do a big corporation. The big corporations are only looking out for one thing: their bottom line. They are not going to be very honest in their advice because they are only looking at how much money they can earn from the client and what kind of commission they would receive for selling that client on a retirement plan or option product.