By: Wilfred Ling

Previously I mentioned about certain advisers thinks that the financial advisory is a sales job. So I want to say something about this.

Why would anyone need a financial adviser? I don’t think anyone need an adviser unless there is a need. What kind of need justify seeing an adviser? Sometime the “need” is obvious like a divorce, separation or death of a sole bread winner. In such cases, major financial impact can be felt and so a financial adviser is engaged to look into the matter. At other times, the “need” may not be so greatly felt but it does not mean unimportant. For example, most people do not care about retirement planning. With procrastination it means that a retiree cannot stop working if there is not enough retirement funding. If health is not good, a significant downgrade in standard of living has to be done. Thus, certain problems may not be so obvious initially but it can become an atomic bomb later. Read more…