192) Should You Get A Consultant For Your Investment?

You do not need a consultant if you already know exactly what you want and know how to do the investment.

But... if you don't know much and still trying to understand about investment, then it is better to get a consultant to help you.

Below are few areas that a Financial Consultant can help you.

Understand your needs

A consultant will never give you any recommendation without understanding your needs first. Share with the consultant of your goals and financial needs. What you want to achieve? What are your future plans and requirements?  How much is required?

Find out your concerns

Share your concerns of the goals. Will it be risky to invest? Can you afford the investment? What are the obstacles? Is it safe? With proper strategies, your investment can reduce the risks. There are strategies like Dollar Cost Averaging (DCA), Asset Allocation (AA) and rebalancing. 

Planning for goals

Once you know your needs and concerns, you can plan on how to achieve your goals. Use the SMART (Specific, Measurable, Achievable, Relevant and Timeline) criteria to set your goals. Discuss with your consultant on what should be done.

Someone to guide

If you are on your own, you may only have limited knowledge. You are not sure on what to do. It will always be better to have someone guide you on how to achieve your goals. Sometimes you need someone to push and motivate you to continue and persevere with your journey to achieve your goals.

Share knowledge

Even if you some knowledge, your knowledge and points of view may be limited to certain perspective points only. You will always be better informed if you start to discuss with others. This is especially useful to discuss with a financial consultant about your financial goals. The old saying says, "Two heads are better than one."

Share Experiences

Having knowledge is never enough. You will be better prepared if other people can share their experiences as well. A consultant who had been in the financial areas,will be able to share their own personal experiences as well as experiences of their other clients.

Process your application

Once you have decided on where to place your investments, the consultant will be able to assist you to process your money transfer from your bank to the investment type.The consultant will assist you to complete the required documents and even submit them for you.

Monitor progress

Another advantage is that the consultant will monitor your investment progress. The consultant can inform you on the ups and downs of your investment values. The investment value will fluctuate according to market conditions. You can use certain strategies like asset allocation rebalancing to preserve profits and buy more equity at a cheaper price. 

Regular review and update

Once your investment plan is in progress, you need to do regular review and update your plans and strategies. Your investment are affected by the changes to the market that your investment are in. However, do not do too frequent reviews over a short time. Changes to the investment may incur administration charges. Too much changes to your plan may cost you huge amount in administration fees. Do balance your review frequency and changes to be made. Sometimes, the best strategy is to do nothing.

Next step of action

As your consultant is only helping you to manage your investments, do let them know on what you wish to do next. Do you need to add more money? Should you do asset rebalancing? Is it time to diversify into more markets? Discuss and get a few options on the next action to take. Weigh each option and choose the best one to take, with the current information you have. Nobody knows what will happen in the future, especially the stock market.

At the end, you should be responsible for your own investments and financial goals. You have to make the final decision.

There are many financial consultants that are willing to share their knowledge in the areas discussed above. Best of all, many of them can even share the knowledge for FREE.

If it is free, why not have a discussion with the consultants? 
Give your Consultant a call and you may be surprised on how much they can share with you.

Want to know more what a Consultant will share with you? Click below:
http://highlevelrules.blogspot.com/2018/01/what-utc-share-with-their-clients.html 

However, remember that if you get it for free and cost you nothing, it does not mean that it is entirely free. Somebody else had paid for you with their time, effort and money. Please do not abuse what is given free to you. Read more below:

http://highlevelrules.blogspot.com/2017/07/there-is-no-such-thing-as-free.html