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Business Consultant

Becoming a Financial Consultant

A financial consultant can be recognized as a professional in the area of financial management. A financial consultant would be involved with the process of providing advice on investment decisions, financing decisions and financial planning for both individuals and business entities. The objective of any financial consultant should be to use his/her knowledge and help the client to maximize their net worth through proper asset allocation. Duties and the skills of a financial consultant can be broadly described as follows.

Any business would depend on the success of its investments as well as the financial management within the organization. Therefore it would be the duty of the financial consultant the use his/her knowledge and advise on how the available funds should be invested, in which projects the available funds should be invested, sources of low cost finance, balancing between long term and short term finance and then to develop strategies on how to utilize these resources in-order to achieve predetermined objectives, which would maximize the net worth of any given business. This process would require the financial consultant to have typical skills such as, budgeting, forecasting, cash flow management, working capital management, investment appraisal, taxation, resource allocation, etc. Apart from this, private individuals may also require advice from financial consultants. This mainly includes advice on retirement planning and decisions upon long term and short-term investments. Then it’s the responsibility of the financial consultant to identify the most appropriate investment options for that particular individual client, which would maximize his/her net wealth.

Due to the involvement of wide range of responsibilities, it will be very important that financial consultants have recognized qualifications from a well-recognized institution. This may include qualifications such as,

  •  AFPC – Advanced Financial Planning Certificate
  • Dip PFS – Member by diploma, The Personal Finance Society
  • APFS - Associate, The Personal Finance Society
  • CFP – Certificate Financial Planner
  • FIFP - Fellow, Institute of Financial Planning

However it must be noted that, advanced qualifications are not an absolute guarantee for good advice. Many have become extremely talented and competitive financial advisors mainly because of their many years of experience in the industry.

Once you have gone through all the given information you would understand that financial consultation is a challenging profession and it requires a higher degree of concentration as well as knowledge. Modern businesses that operate in volatile business environments require expertise on financial management mainly because of the importance of finance for the survival of the business. This has led to a higher demand for financial consultants with attractive income levels.

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