Some of the Things that a Professional Financial Advisor Does
Rev. Atty. Terence Camua, MACL, is a legal and financial advisor. He also taught business law, economics and taxation in various higher educational institutions. His advocacy is to spread financial literacy . He and his lovely wife, Fifi, live in Las Piñas City, Philippines.
Financial Planning: • Cares more about you and your money than anyone who doesn’t share your last name • Asks questions in order to understand your needs and objectives • Helps you determine where you are at present • Guides you to think about areas of your financial life you may not have considered • Helps organize your financial situation • Formalizes your goals and puts them in writing for you • Helps you prioritize your financial opportunities • Helps you determine realistic goals • Studies possible alternatives that could meet your goals • Prepares a financial plan and/or an investment policy statement for you • Makes specific recommendations to help you meet your goals • Implements those recommendations • Suggests creative alternatives that you may not have considered • Reviews and recommends life insurance policies to protect you • Assists you in setting up a company retirement plan • Assists in preparing an estate plan for you • Persuades you to do the things you know you ought to do, even if you don’t feel like doing them
Investments: • Prepares an asset allocation for you so you can achieve the best rate of return for a given level of risk tolerance • Does due diligence on money managers and mutual fund managers in order to make appropriate recommendations • Stays up to date on changes in the investment world • Monitors your investments • Reviews existing annuities • Reviews your investments in your company PERA plans • Reviews and revises portfolios as conditions change • Guides you through difficult periods in the stock market by sharing historical perspective • Works with you to improve your investment performance • Can look inside your mutual funds to compare how many of their holdings duplicate each other • Converts your investments to lifetime income • Helps you evaluate the differences in risk levels between various fixed-income investments such as government bonds and corporate bonds. • Provides research on stocks from both affiliated firm and third parties • Holds and warehouses stocks, bonds and other securities • Records and researches your cost basis on securities • Provides you with unbiased stock research • Provides you with personal stock analysis • Provides you with a written sector-based evaluation of your portfolio • Determines the risk level of your existing portfolio • Helps you consolidate and simplify your investments • Can provide you with technical fundamental and quantitative stock analysis • Gives you strategies for trading options • Provides you with executive services involving restricted stock and employer stock options • Provides introductions to money managers • Show you how to access your statement and other information online • Shops top rates from financial institutions throughout the country • Provides access to answers from a major investment firm
Taxes • Suggests alternatives to lower your taxes • Review your tax returns with an eye to possible savings in the future • Stays up to date on tax law changes • Helps you reduce your taxes • Repositions investments to take full advantage of tax law provisions • Works with your tax and legal advisors to help you meet your financial goals.
Person-to Person: • Monitors changes in your life and family situation • Proactively keeps in touch with you • Remains only a telephone call away to answer financial questions for you • Serves as a human glossary of financial terms such as beta, P/E ratio, and Sharpe ratio • Makes sure that the he/she and the firm provide excellent service at all times • Provides referrals to other professionals, such as accountants and attorneys • Refers you to banking establishments for loan and trust alternatives • Provides you with a chart showing the monthly income from all of your investments • Suggests alternatives to increase your income during retirement • Listens and provides feedback in a way that a magazine or newsletter writer does not • Shares the experiences of dozens or hundreds of clients who have faced circumstances similar to yours • Helps educate your children and grandchildren about investments and financial concepts • Holds seminars to discuss significant and /or new financial concepts • Helps with continuity of your family’s financial plan through generations • Facilitates the transfer of investments from individual names to trust or from an owner through to beneficiaries • Keeps you on track • Identifies your savings shortfalls • Develops and monitors a strategy for debt reduction • Educates you on retirement issues • Educates you on estate planning issues • Educates you on college savings and financial aid options • Is someone you can trust and get advice from in all of your financial matters • Is a wise sounding board for ideas you are considering • Is honest with you • Saves you time
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