Each and every person in the world wants to invest his or her money in the best possible way. Financial advisors are experts who help you choose the correct investment options in such a way that you end up with the best possible returns.
There are different types of financial advisers and the most common among them are:
● CFP – Certified Financial Planner – This is one of the most common certifications and also one of the most respected. These are people who meet the educational requirements and specifications of the Board of Standards. They have to pass a national test and are governed by a specific code of ethics.
● ChFC – This is a title given by the American College and is primarily meant for the Insurance industry. A number of exams have to be passed before a person becomes an expert in handling insurance products and offer the one that is best suited to the customer’s needs.
● CLU – This financial advisor is basically a chartered life underwriter, who is an expert in insurance. These are basically experts who have detailed and in depth knowledge about the insurance products and are best suited to suggest one as per your specific needs.
● CFA – These are financial experts who have studied and are certified by the Institute of Chartered Financial Analysts. Some of the subjects in this course include economics, security analysis, portfolio management, standards of conduct and financial accounting.
● AICPA – American Institute of Certified Public Accountants – These are experts in personal financial planning and are best suited for people who prefer to make investments on a regular basis.
● RIA – Registered Investment Advisor – Any expert needs to be registered with Federal Securities and Exchange Commission to be called a registered investment consultant.
It is extremely important to choose the right financial consultant to get the best possible results. You should check the exact details and choose the person who is best suited to your requirements at all times.