photo by Robert Petros

Financial advisors play an important role in helping you to make the right investment decisions.

Depending on the type of financial advisors that you choose, they can make your life easy or difficult. It is critical for you to learn about different types of financial advisors, so that you may understand which of them suit your requirements.

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Qualifications

Title of financial advisors depends on their qualifications. Make it a point to confirm the qualifications of a person who claims to be a certified financial advisor. Remember to inquire about credentials of a person who passes him or herself off as a “financial planner” or financial consultant” The different types of financial advisors strutting around with fancy titles may only end up confusing and misleading you.

Certified financial planner

To become a certified financial planner, a person has to complete and pass a course conducted by Certified Financial Planner Board of Standards. A certified financial planner helps you to take educated decisions about taxes, insurance, investments, retirement, and estate planning.

Chartered financial consultant

A person become a chartered financial consultant on completion of an 8-course curriculum conducted by American College of Bryn Mawr, Pennsylvania. A certified financial consultant helps you on matters related to investments, taxes, retirement, insurance, and estate planning.

Chartered financial analyst

A person who is a chartered financial analyst, has been conferred that credential by Chartered Financial Analyst Institute. To become a chartered financial analyst, a professional has to pass several rigorous tests and has to be working in investment industry. Areas of specialization for a certified financial analyst include securities analysis and money management.

Personal financial analyst

A personal financial analyst has to be certified by American Institute of Certified Public Accountants. A person has to pass rigorous examinations before being certified by American Institute of Certified Public Accountants. This professional helps in matters related to financial planning.

Registered investment advisor

A registered investment advisor is one who has been given a license by Securities and Exchange Commission to offer investment advice.

Paragon Wealth Management is a provider of managed portfolios for individuals and institutions.  Although the information included in this report has been obtained from sources Paragon believes to be reliable, we do not guarantee its accuracy.  All opinions and estimates included in this report constitute the judgment as of the dates indicated and are subject to change without notice.  This report is for informational purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security.  Past performance is not a guarantee of future results.