Why Do You Need a Personal Chief Financial Officer

It is a common perception that human beings confide in people only closest to them, mostly the loved ones. However when this assumption was put to test through surveys and polls, the results were somewhat surprising but not for everyone. Following is from the research done by Sociologist Mario Luis, which was published on Psychology Today. “When people are not turning to the most important people in their lives when they have something important on their minds, then who are they turning to, and why? Of all of the many answers to those questions, two emerged as most popular: • 20% of the time, participants said they looked for someone with particular expertise or insight. Those included doctors, therapists, spiritual guides, and personal advisors, including financial advisors.” Financial Advisers are now considered to be among the group of many professionals in which people confide their life’s stories with. There is a reason for that. Financial Advisers are considered to be good listeners, at least the good ones! And furthermore, they can help people solve their financial problems arising from personal issues. It is becoming ever more important to have someone like that in your life and this is why we believe we should all consider having a personal CFO in our lives. A person we can go to with complete satisfaction that he/she is there to listen, with the best of our interests in their hearts, and help us get through any financial problems. But nowadays, it is rather not easy to find such advisers. With extensive growth in the profession, a lot of advisers have diverted away from a client-centric approach and are solely in the money making business and selling you financial products. But with a little research, and a process in place to filter out the financial advisers available to you, you can be rest assured to find the right one! It is important to remember, however, that not every financial planner will be able to help you. There has to be a right match between you and the adviser and his expertise. A lot of financial planners have processes in place to filter out clients who they can truly help. It is a great practice as it helps save time for the client and the adviser and the relationships formed last much longer.