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FINANCIAL ADVISORY FOR PRIVATE PERSONS. WHAT IT IS, HOW IT WORKS, WHAT CAN IT HELP US AND IS IT WORTH USING IT?

Financial consulting is most often associated with large companies and large sums of money. Currently, as individuals, we have the opportunity to benefit from the advice of a financial advisor as well as the advice of a doctor or lawyer and better manage our budget. Still, this service is not as popular as medical or legal advice, and it can have a very beneficial effect on our savings or investments. Below we present what financial consulting is, how it works and we suggest whether it is worth using it.

What is financial advice and how does it work in practice?

Financial advisory is a service that consists in receiving advice on our finances. It is provided by financial advisors who operate in the market. Such advice is similar to those, for example, medical or legal, where a doctor or a lawyer discuss a given problem with us. There are many financial advisors on the market and various options that we can use. We can take advantage of financial consulting in independent large financial companies that deal strictly with consulting or it is only their additional activity. We can also search for, for example, private advisors who act as freelancers, but have education, knowledge or experience. The third type of financial advisers on the market are bank advisers at specific banks. They provide advice for free if we want to use the services of their bank, although a specific bank may provide, for example, paid advisory services, where a bank advisor will help us in many situations unrelated to his bank.

Financial advice is payable and its average cost is around several dozen zlotys. During them, we can raise many issues related to general finances. During a conversation with a financial advisor, we can advise you on, for example, a cash loan, mortgage loan, debt, home budget, investments, deposits, depositing property, trading it, etc.

Advisors independent vs. bank advisers

One of the most important elements when using the help of a financial advisor is his choice. There are two main groups of advisers on the market, which can be divided into independent advisers – for example privately and bank advisers who are employees of a given bank. Often, many people do not wonder what adviser to choose in this respect, which can be a big mistake. Independent advisors will certainly work for us after paying for the service and advise us in a transparent manner and will have no interest in recommending the bank’s products. A bank advisor to whom we will go for advice – even if we pay for it and use a banking service, he may, in some situations, convince us or provide us with solutions for the bank he works for. Therefore, if we are generally considering a given solution, e.g. an investment or a loan, it is worth visiting independent advisors. We will get there a reliable list of all options. However, if we are determined to use a specific bank, e.g. the one in which we currently have an account, we can go to that bank and use the consulting service there, e.g. for free as part of the client’s customer or for a fee. In such a situation, a bank advisor will choose the appropriate option for us, and we will not have to worry about the credibility of the advice.

How does consulting work in practice?

Many people have not had contact with financial advice for private individuals and are a bit afraid of such a step, making decisions, e.g. independently. However, the very use of such services is safe and comfortable. The first step is to find a given advisor, consulting company or bank, depending on what advice we want to get. Then it is enough to make an appointment, pay for the advice and go to the meeting. During it, the advisor will look at our case, e.g. on the basis of documentation or our description, and then tell us what options we have to choose from. It will also help you choose the one that will be the best for us. Such a visit is not binding and we do not need to consult an advisor. After the visit, we can ask the advisor, for example, for further advice, establish permanent cooperation or ask him, depending on the possibility, for example, to be present when signing the loan, etc.

What are the advantages of financial consulting?

Financial advice, while not widely popular, has many advantages and benefits. The first of them is the possibility of using counseling by any private person at an affordable price. Many people believe that such advice is reserved for companies only, which is a misconception. There are many consulting companies and banks on the market that provide such services, so we can easily find the right advisor at a favorable price. By using financial advice, we can get a lot of financial benefits. Choosing the right solution will translate into specific savings or financial profits. Thanks to advice, we can avoid e.g. loss of funds and significantly increase the security of investments. Talking to advisers also allows you to get many different options to choose from that we would not have figured out on our own. So is it worth asking for help from a financial advisor? Definitely yes! Financial advice, although it sounds quite scary, is a simple and friendly process. We can quickly and without obligation ask professionals for help and improve our financial situation thanks to such advice.

How to choose the right advisor or consulting company?

If you’ve decided to take financial advice and don’t know who to go to, there are several ways to find advisors in your area. The first solution is to use an internet search engine and simply enter the phrase “financial advisor Krakow” into it. We will then receive a lot of search results for private advisors or large companies operating in our city. We can also search financial forums and check opinions about individual companies or advisors. Many consulting companies or advisors also have their own social profiles, where we can also find many offers of financial advice. As far as we have the opportunity, it is worth using consultancy in large financial companies, because, if necessary, our case can be taken care of by, for example, more experienced consultants or we can also receive more comprehensive assistance.

 

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