Financial Advice for the Soul
When looking for financial advice, it is common for us to be lost amongst the sea of advertisements, numbers and jargon. So what is important is to keep a few rules in mind before starting our hunt for a good investment and a good financial adviser.
Liquidity at any time
This is important because it allows you to be flexible with your money. Withdraw cash in an emergency or pay for expensive university fees. A good investment will cater to both
Great Returns according to your risk profile
Everyone wants good returns. But nobody likes risk. That’s why it is important to understand how much risk you are willing to take according to your stage in life, your income, your personality and your goals. It is only through understanding the risks that you’re willing to take that you will be able to properly gauge the returns that you should be looking at.
Quarterly reviews
People park thousands of dollars with financial advisory and professionals with promises to grow them. But they disappear for long periods of time and you need to actively ask if you want to know how your money is doing. A good financial adviser will provide quarterly reviews of your investment portfolio so that you can make well informed decisions about your finances in a timely fashion.
Active Management of Portfolio
Investments are heavily tied to time frames. Short term investments behave differently from long term investments. What happens typically is that a financial adviser will invest in what he thinks is a long term investment and leave it for a year before looking at how it is doing, while actively managing the short term investments. However a good financial adviser will actively manage and review all investments regardless of the time frame for better returns and better reactions to market shifts.
Evaluation of existing insurance and investment portfolios
Not everyone’s a new investor and many who aren’t investors might have a list of insurances that they’re paying for. A good financial adviser not only offers new portfolios or creates new portfolios for clients to invest in – they also take in, analyse and give advice on existingportfolios.
Economical Fee structure
A huge pain for many are the hidden fees and commissions that financial advisers take. That’s why it is important to be aware of this problem and actively seek out the fee structures of potential financial advisers. Fee structures should be clear, transparent and competitive to the market rate. There are fee based and commission based charges and it is important to understand the implications of each before choosing a financial adviser.
With these rules in mind, you will be better able to gauge financial advisers and investments and make well informed decisions. My aim is to make sure that people are not misled with the vast amount of information around them, by providing sound financial advice and maintaining long-lasting relationships with my clients.
If you would like to have a chat and see what options are accessible to you, then please feel free to reach out.
☎ +65 6850 5470
✆ +65 9763 7746
Deepak Singh is a highly qualified financial advisor with Global Financial Consultants Pte Ltd,who gives unbiased and honest financial advice. He manages the financial portfolios of Singaporeans, Permanent Residents (PR) and expatriates. Deepak Singh is a representative of Global Financial Consultants Pte Ltd – No: 200305462G | MAS License No.: FA100035-3
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