A financial advisor is an individual who gives professional financial advice to various clients depending on his/her financial status. In the United States, an advisor can be licensed via examination or registration with the Financial Advisers Board of Standards. In most states, financial advisers must undergo specific training and then be registered with a state regulatory board. In some states, there are no regulatory boards. These states are called “unregulated” brokerage firms. You may find more details about this at Calgary Separation Association
The training, education and licensing of financial advisors vary from state to state. Most people seek the services of a financial advisor when they do not know how to handle their own money. A common reason for seeking professional advise is to invest or save for retirement. Many people do not know how to save for retirement, so an advisor helps them set up a plan that will allow them to save and get a percentage of the investment when they reach retirement age. For example, a client may need to save for a house, a car or both, and an advisor can help them find an investment that matches their net worth.
Some other examples of services that financial advisors provide include estate planning and insurance. Some clients cannot afford to save for an estate, while others need life insurance. An advisor can help them determine the amount of insurance they need, as well as find the best life insurance rates, depending on their lifestyle and risk factors. Most life insurance providers have brokers who can help their clients find the right life insurance policy.