What Independent Financial Advisors Can Do
What Independent Financial Advisors Can Do
Independent financial advisors do not belong to a larger brokerage, so there's no one telling them what to do or directing them on how they should approach a client's problem. When it comes to salary, there is no boss to set it for them, independent financial advisors set their own rates. Financial advisors sometimes tend to encourage you to buy certain stocks or mutual funds just because the brokerage had a backroom deal with it. You woon't get this from independent financial advisors. There are a lot of independent financial advisors in places such as Greenwich, Connecticut where they are able to earn a considerable sum of money because of the extensive within these cities. There are also major opportunities for independent financial advisors in Astoria and New York.
Independent financial advisors also tend to give out monetary contributions to support someone with power on the House Financial Services Committee. This is a strategic move. One good example of a beneficiary of this kind of practice is Carolyn Maloney, the Congresswoman from Astoria. This is because the Financial Services Committee is in charge of regulating independent financial advisors. So they have to be friendly to ensure that legislations won't harm their business. Some even suspect that Maloney may be doing deals to benefit independent financial advisors. Financial advisors can be essential to a company and the client can benefit from its quality consultant work. When people do financial consulting as individuals and without brokerage, they are often paid as independent contractors.
Primarily, clients seek out independent financial advisors if they have financial problems or issues or if they just want to get their financial situation in order. For clients who used to serve in the Armed Forces, some independent financial advisors even offer discount for their services, which can be considered as an act of patriotism on their part. Most professional athletes also get independent financial advisors to take care of their complex financial issues which are typically faced by a sports athlete. One complication is the pro athletes are required to pay taxes in every state where they perform. This is one example of where they need the help of independent financial advisors.
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