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Financial Advisors: The Evolution of the Insurance Salesperson

Financial Advisors are those who advise the financial department. Their earnings are a combination of commissions or payment charges in their favor. At the beginning, they were called insurance salespeople. The transition to advisor was not noticeable and could be done really fast. Today, most people and companies need a financial advisor to know the risks they face in their different money operations. They are also known as personal consultant, financial planner, account adviser individual finance manager, personal financial planning consultant, independent financial adviser, investment adviser, financial planner, certified financial planner, pension adviser and many more.

Financial Advisors offer impartial and balance advice without any interest on another third party. In December 2004, the FSA or Financial Services Authority introduced the multi-tied adviser, which represents many companies at the same time.

One branch of Financial Advisors is independent financial advisors, which provides advice on financial subjects to clients or financial products. They conduct a very meticulous examination of their clients' objectives, financial position and preferences. They advise on several matters such as investment, insurance, mortgages and retirement planning. Another branch is the investment adviser that advises on investments. They offer direct financial advice and asset management for individuals and corporate clients. They charge with a percentage of assets under administration, annual basis or by “flat fee” basis. Other branch is the Financial Planner, which performs different services for their clients such as general retirement planning, investing, insurance, and tax strategies.

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