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Financial advisors: The ultimate guide to finding the right advisor

This is the start of great things

Highlights:

  • Need help to manage your money and reach your financial goals? Regulated, qualified trained and experienced, a financial advisor can review your finances holistically, help you draft a financial plan and strategy so that you can achieve your short and long-term goals, while they can prevent you from taking financial decisions that could cost you.
  • A financial advisor is a professional who is qualified to offer financial advice and services to clients, such as drafting a financial plan for you, investing on your behalf or rebalancing your portfolio to name a few.
  • Financial planning includes investments, wealth management and pensions. Financial advisors offer several services, whilst the most equipped will also provide personal and business life insurance, as well as private pension schemes.
  • You may also want to approach a professional if you are financially secure but would like someone to manage your wealth. You may also consider employing a financial advisor if you do not have a financial plan, you do not know how to invest or you are consistently losing money when you do it alone.
  • Some of the benefits you can reap when employing a financial advisor include reaching your short and long-term objectives, making the most of expertise and industry know-how, having a professional oversee your finances and making the most of research and regular reviews amongst others.
  • Selecting the right financial advisor can make all the difference when it comes to reaching your goals. Qualified and experienced, Calamatta Cuschieri’s advisors work with tailor-made portfolios and are able to address clients’ unique needs. Get in touch with an advisor today.

 

When it comes to managing your money, building your wealth and securing your future, fulfilling your financial objectives can become a complicated affair if you have little to no investment know-how or your financial situation has become too intricate for you to go it alone. In addition, a lack of experience can lead to unsound and rash financial decisions, while you may end up paying too close attention to the noise given off by markets and may react accordingly.

Boasting a wealth of expertise, a financial advisor can see your finances holistically, help you draft a financial plan and strategy that will drive you to achieve your short and long-term goals, while they may prevent you from falling into unnecessary and expensive financial traps.

Have a look at the ins and outs of working with a financial advisor.

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What exactly is a financial advisor?

A financial advisor is a licenced professional who offers financial advice and services to clients and who are typically employed to create a plan for your finances and to assist with the investment and ongoing. Depending on the advisor, some may offer assistance, while others provide complete management, including handling tasks like trading and investing on your behalf and portfolio rebalancing to name a few.

In most European countries and especially in Malta, advisors must have the right qualifications and typically undergo specific training, while they must also be registered with a regulatory body in order to provide their services.

What are the services offered by financial advisors?

From helping you create your financial plan to directing you towards the right financial products and offering insights on your savings, financial advisors can provide a range of services.

Financial Planning Service:

Getting your finances in shape is a crucial step for a better future. A financial plan can help you manage your income more effectively, increase your cash flow and enhance your financial security amongst other things. It can also manage any debt, by crafting the appropriate strategies to pay down existing debt and also keep you out of it. In addition, it can prepare you for important life events while making sure that you do not struggle as you try to reach them. A financial advisor can address your unique needs and draft a customised financial strategy. Have a look at why financial planning is important.

Financial advisors usually have direct access to the markets, while they are experts at investing in a range of instruments which means that they can help you make the most of your investment. Whether top-performing local and global stocks, bonds, ETFs or funds, an advisor will take into consideration your risk tolerance, current and future targets. In addition, they can also ensure you stay on course and make necessary strategic adjustments as your life circumstances change.

Wealth Management Service:

Wealth management is a distinguished service that caters for high-net-worth individuals and corporates. It usually, Unless you have gotten hold of a windfall or you have inherited a large sum of money, building your wealth takes decades. Investing plays a crucial role when it comes to building your wealth, however, if you are unsure as to how to go about it, a wealth management advisor can handle complex financial issues on your behalf, while keeping your best interest in mind. Typically, a financial advisor can offer holistic wealth management that includes coordinating all the services needed to manage clients’ money and plan for current and future needs. Since the Group’s inception, Calamatta Cuschieri has been providing high-net-worth individuals, families, as well as corporate clients with personalised wealth management strategies, a full range of investment products and custom investment solutions. Here are some ideas of how you can grow and manage your wealth.

Life insurance:

From offering financial security and peace of mind to protecting your financial independence and providing you with the possibility to build your savings through investments, there are several reasons why you should opt for a life protection plan. A number of advisors offer life insurance and consider it an important part of the financial planning and wealth protection process. Some life insurance products worth considering include family protection, whole of life insurance, loan protection plan, business loan protection, as well as the type of insurance that will allow you to invest a lump sum of money, such as the Single Premium Plan. Have a look at how insurance can protect your most valuable assets like your family and business.

Pensions:

An inevitable phase of your life, retirement is the time to end the rat race and enjoy a stress-free life when you can pursue new hobbies and explore other corners of the world. But your retirement also signals a time when income drops and expenses may rise, while the measly government pension that you will receive is highly unlikely to stretch enough for you to pursue your goals. A retirement plan can help you harness the power of saving early and build a substantial cushion enabling you to fulfil your retirement dreams. However, creating a sound plan and making complex financial decisions for your retirement that take into consideration all factors is no easy feat. A financial advisor can offer support throughout the entire retirement journey. This service coupled with a private scheme like the Lifetime Private Pension Scheme will enable you to grow your pension pot at an exceptional rate with added security from a diversified nature of investments which in turn can offer you a steady income during retirement.

Here is how retirement planning can help you enjoy your golden years carefree and if you have just turned 40 and have not been saving for retirement, here are some tips on retirement planning.

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How can you tell if you need a financial advisor?

The decision to employ a financial advisor is a highly personal one. Having said that, there are various reasons why it would be wise to do so. Generally speaking, you may consider employing one if you are feeling confused, stressed or overwhelmed with your finances and you are unsure how to go about dealing with your money. On the other hand, you might want to approach a financial advisor if you are financially secure but would like someone to manage your wealth. Other, more specific sure signs that you might need one include:

  • You do not yet have a financial plan: getting in touch with an advisor is particularly important in this case, most especially if you have debt, you are undergoing or planning big life changes such as getting married or divorced, having a baby or buying a house.
  • You do not know how to invest: while saving can help you accumulate an amount of capital overtime, in today’s world of inflation, this means that the money you keep in either cash or a savings account with low-interest will decline in value each year. In contrast, investing is one of the most effective ways to grow your money. If you do not know how to go about it, a financial advisor can assist you to make the right investment choices. Have a look at the main differences between saving and investing here.
  • You are consistently losing money from your investments: your investments should increase your net worth considerably, however, if yours are not doing that systematically, then you could be losing money because you have made financial decisions that are not working for you. Hiring an advisor can solve this problem since they can review what it is you are doing wrong and stir you to the right direction before it is too late.

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What are the benefits of using a financial advisor?

Perhaps one of the most obvious benefits of getting a helping hand from a professional financial advisor is that they can assist you to reach both your short and long-term goals in so many different ways, while the advantage of taking financial advice runs deeper than merely the potential for better investment returns. Here are some more of the benefits you can reap when employing a financial advisor.

Reach your objectives

A sure way of reducing your investment portfolio’s performance is the lack of clear-cut goals. What’s more, investment decisions driven by emotions such as worry, panic or overconfidence can negatively impact your portfolio and may undo months or even years of hard work. Read more about the risks of overconfidence bias when managing your portfolio.

With the necessary expertise and know-how to drive investors set appropriate financial goals be it financial planning, wealth building, life insurance, retirement planning or estate planning, a financial advisor will help you decide what you are trying to achieve with your money and may even challenge you to assess your goals so that you can create a realistic financial plan. In addition, they can provide that much-needed objectivity by ensuring that you are well-informed so that together you can work hand in hand to make positive and objective investment decisions without the risk of emotion.

Benefit from expertise and professionalism

Having the right qualifications, training, knowledge and ideally a wealth of experience financial advisors can guide you to make better financial choices. Highly knowledgeable of various investment products, this coupled with their in-depth research means that they can narrow down the range of product solutions suitable for you and in line with your appetite for risk. A financial advisor can also assist you to navigate the complex intricacies of the tax system. There is no point of putting money into an investment only to have taxation erode the gains generated by the investment. The advisor will consider all possible tax implications before going ahead with an investment, while they will offer you advice on the latest changes to the legislation, as well as the launch of new investments that offer both long-term gains and tax-efficiency.

Expert overseeing of your finances

Often investors approach advisors because they cannot take the necessary steps to manage their finances either because they do not have the time to do so or because they lack the knowledge. A financial advisor can oversee your finances on your behalf, while they can make sure your money is invested in the best possible way. This means that you can rest assured that a professional is taking care of a wide range of challenges, while keeping close tabs on the markets and as your life circumstances change and evolve, so should your investments and portfolio.

It is important to remember that just because a professional is overseeing your portfolio that does not mean that you should not participate in any decision-making or that you should not voice any concerns or questions that you may have. Your advisor is only a phone call or an email away, so you can get in touch with them whenever you feel the need to.

Top-notch research and regular reviews

Much of an advisor’s time is spent conducting in-depth research and looking for the best opportunities for their clients. Yet, part of the research undertaken is also aimed at maximising their knowledge and staying abreast with any developments. At the same time, if an advisor forms part of a large firm, they are often assisted by other industry experts.

You should expect your financial advisor to provide you with regular reviews which could be either quarterly, half yearly or annually. These regular updates will help you keep track of your finances and any changes that may have been carried out to your portfolio, while you will have the opportunity to better understand whether your investments still match your financial objectives.

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Where can you get professional investment advice?

Selecting the right financial advisor can make all the difference when it comes to reaching your goals. Qualified and experienced, Calamatta Cuschieri’s advisors work with tailor-made portfolios and are able to address clients’ unique needs. At the same time, whether you are looking to invest, plan for your retirement, manage your assets or create an estate plan, our advisors offer regular and personal interaction so that you are always in the loop. Here are some more benefits of getting help from a CC advisor:

A choice of financial products

CC’s advisors have access to a full spectrum of investment products, while they invest directly in the markets, which means that you have a wide choice at your disposal, while you are not restricted to any particular investment. In addition, our advisors will offer advice based on what is best for your particular circumstances, providing you with solutions that are closely aligned to your objectives.

Here are the right questions to ask before making any investment.

Peace of mind

With our financial advisors you are safe in the knowledge that an experienced professional is taking care of a wide range of challenges on your behalf, keeps close tabs on the markets, while conducts thorough research to identify the best investment opportunities.

Affordable pricing

Simple and easy to understand, at CC our fee structure is transparent and competitive, while we do not charge annual management fees, custody fees or any other recurring fees. In this manner, you know exactly what you are paying for.

 

No matter what your financial circumstances are, a financial advisor can help evaluate your options, get your finances in shape and help you take the right steps toward financial success. Get in touch with one of our professional financial advisors and make the most of our advisory services.

 

Have a look at these 10 reasons why you should choose Calamatta Cuschieri.

 

The information, view and opinions provided in this article are being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice.

Calamatta Cuschieri Investment Services Ltd has not verified and consequently neither warrants the accuracy nor the veracity of any information, views or opinions appearing on this website.

Calamatta Cuschieri Investment Services Ltd is licensed to conduct investment services business under the Investments Services Act by the MFSA and is also registered as a Tied Insurance Intermediary under the Insurance Distribution Act 2018.