This article is a short excerpt on how potentially beneficial a financial advisor could be to you in your life.
Some people have so much money that they do not have any idea of what to do with it. Often these people spend frivolously and sometimes this damages their overall wealth. In order to maximise the use their finances, some people hire financial advisors who step in and take control of a person’s wealth management and put their money to good use.
Financial Advisor are professionals who provide financial services to individuals, businesses and governments. Their services typically include the following: investment advice, insurances and mortgages. In Canada, the role of the financial advisor is varied as most of them are licensed to sell life insurance, securities or mutual funds, while more advanced licensing is required for the sale of derivatives and commodities to their clients.
The role of a financial advisor is an integral part of maintaining the proper balance of a client’s investment income and capital gains. They also have to be able to appropriately assess the level of risk involved in certain investments to ensure that their client’s funds are being maximized. Financial advisors usually employ the following means to make money for their customers: stocks, bonds, mutual funds and flow through shares.
Flow through shares are tax investments that have intense tax advantages and often significant refunds come tax refund time. This is one of the most highly desired Canadian tax saving strategies that financial advisors tend to bring up to their clients. Flow through shares primarily involve investments in the oil and gas industry, the mining industry, and the wind power industry. The investment is deductible against your personal income and after a certain period of time, your shares tend to roll over into a mutual fund which you are able to sell at any time. This turns fully taxable income into future tax advantaged capital gains. The catch of this entire scheme is that the higher your pay, the more you will be able to get out of this. As such, it is usually more applicable to those with a higher income as it is one way whereby may not have to pay high taxes on what you make.
How Will Obama’s Reelection Impact Advisors?
After months of enduring one of the most vicious political campaigns in our history, the voter has chosen. Americans have decided that they are pleased with the job that President Obama has done managing America’s foreign affairs, healthcare, energy, and economy. But whether President Obama’s reelection was something you actively sought or not, there is no denying that it will have an impact on the financial advisor.
Money Tips for a Tight College Income
In the current state of the American economy, everybody is strapped for cash. But for you, the average college student, this is especially true. School is expensive, and figuring out how to live off of the tiny portion of money that you have leftover after you have purchased your textbooks, gasoline, and school supplies can be quite the chore.
Do you know how much you can benefit from financial planning?
A sturdy house has a good, solid foundation, and is built following a sound architectural blueprint. By figuring out how you will create the home beforehand, you will ensure that you will be building the best structure you could possibly build, and one that will withstand almost any storm. The same may be said of your personal finances.
