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Getting a financial adviser helps you reach milestones in life. Whether you want to save for a major project or want to set aside funds for the future, these professionals can steer you in the right direction. However, it is not enough to get just any adviser. Here are qualities that matter when deciding on a partner for your financial goals.

They must have the technical expertise

Financial advisers should know a lot about investing and managing money. They will help you make financial choices that you would probably not occur to you. Get an adviser who can assist you in the basics of financial and wealth planning like savings and investments.

It is also preferable to get someone knowledgeable in pensions, estate planning, IHT, mortgages, and personal or business protection insurance. 

They are careful and accountable

An adviser is an expert in money management, keeping you on track and helps you reach your financial objectives. At times, this means preventing you from making decisions about money when you are operating out of fear, anger, or other heavy emotions. When you invest without input from anyone else, you might make knee-jerk choices that have adverse effects.

For instance, you don't want to buy a stock just because it is behaving in a way that excites you at the moment. If you do not have a financial adviser, no one will veto your decision. An adviser reminds you to think of actions in terms of your long-term goals. He must steer you away from panic- or rage-induced purchases.

They have practical experience

A skilled adviser will have invaluable real-world knowledge of how financial management works. Experienced advisers have gone through market corrections, recessions, and bubbles; they know how to secure assets and take calculated risks. 

They will also know which financial products are best for specific clients. Though they would have probably made mistakes early in their career, they make little or no such errors at present.

They can access the entire market

The best kind of financial expert is someone who operates independently. Since they have access to the whole market, they can select the best investments and strategies for their clients. 

These experienced advisers are not limited to a small pool of mortgages or pensions. They have a large basket of funds that enable them to tailor investment opportunities to their clients' financial goals.

They are good communicators

A financial adviser knows the value of balancing risk and return. They can analyse and structure an investment portfolio in a way that allocates assets based on changes in goals, using metrics like standard deviation, strategic asset allocation, and tactical asset allocation, among others.

This expert also knows how to convey their knowledge and experience in a way that makes sense. They can empathise with their clients and frame investments in terms of what matters most to them. They must have the ability to locate gaps in the client's portfolio and explain how to remedy these in a concise and informative way.

Conclusion

One more thing that a financial adviser should have is an enthusiasm for investment and analysis. Since finance is always evolving, it needs professionals who love lifelong learning.

At Harry Robinson, you can be sure that wealth managers are passionate about what they do. We provide financial advice in Cardiff, guiding our clients through a clear and practical growth strategy customised for them. Get in touch with us today for a no-obligation health check, or contact us for more information.

*Will writing and Powers of Attorney involve the referral to a service that is separate and distinct to those offered by St. James's Place and along with Trusts are not regulated by the Financial Conduct Authority.