VIRTUAL FINANCIAL ADVISORS: AN INTRODUCTION
Given today's generation being heavily reliant on technology particularly the internet, even individuals from the field of finance are coping up and incorporating a few techie tricks up their sleeves. Financial advisors are not exceptions to this. As each client’s schedule gets busier--demanding a more flexible interaction with their advisors, finance experts are now offering their services via internet as well.
These individuals, aside from tips and information on how to handle your funds, also provide certain services such as managing your investments, tax preparation, and asset planning. They are required to obtain their Series 65 license first before sharing their expertise to the public, and utilize various internet platforms such as video streaming and document viewers to be able to interact with their clients and hold meetings with them. They can also showcase their knowledge and advertise their services through blogs and podcasts that enable people to have access to information relevant to their needs.
Virtual advising is most advantageous for those with demanding schedules and need to travel from time to time. Unlike the traditional way of setting up an appointment to have a personal meet up, this tactic allows conference at any given time, which adds to a client’s comfort knowing they can reach their advisor anytime. This is also suitable for those who are nearing retirement, making frequent visits to relatives in other areas.
However, along with the convenience it poses also comes a few troubles. Everyone knows that the internet, no matter how great it may seem, is still subject to some flaws. For instance, although advising through the net works well in terms of time management, it won’t be very useful with a poor connection, which is a problem in some areas. So even though you are able to reach your adviser, there would be zero progress with a shaky internet connection. Aside from this, you may also encounter difficulties when it comes to understanding your client’s behavior since you are not interacting with them in person.
If you are considering whether to go with this technique, take a look at your current situation to determine if it will suit you. If you are comfortable with technology and is constantly transferring from one place to another, virtual advising might work for you. However, if you are the type who feels more comfortable with face to face negotiations, it may be better to stick to the conventional way of setting up meetings with your advisor.
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