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Discussion in 'Business studies' started by Joeyburns, Apr 20, 2012.
What is the Purpose of Financial Advice?
What is the purpose of your question?
I think it all rather depends on who is doing the advising. Those Financial Advisers in banks are very limited in what they can advise their clients, as it will always be a bank product. Some financial advisers, trained via the CII, will advise, generally on pensions and insurance. IFAs trained via the CISI are there to advise on a range of products that deal with investments and 'wealth management'. So what's the purpose of it? Good question, but generally it's to advise you how, in theory you can make your money work, plan for one's retirement/insurance needs.
People on the whole of very ignorant about how money works, which is not a criticism, and hope that those who do know will help them, without helping themselves too much.
Does that in any way help?