Financial Advisors are those who provide advice in the financial department. They receive their pays by commissions or by charging a payment in favor of their service. At the beginning, they were called insurance salesmen. The transition to advisor was a delicate one. Today, most of the people and companies need a financial advisor to know the risk of the different money operations. They were known also as: e.g. personal consultants, financial planner, account adviser, individual finance manager, personal financial planning consultant, Independent Financial Adviser, investment Adviser, Certified financial planner, Pension adviser and many more.
Financial Advisors offer impartial and balanced advice without any interest on other third party. In December of 2004, the FSA or Financial Services Authority introduces the multi-tied adviser, which represents many companies at the same time.
Some of the branches of Financial Advisors are: independent financial advisors, which provide advice on financial subjects to clients or financial products. They conduct a very meticulous examination of the objectives of their clients, financial position and preferences. They advice on several matters such as: investments, insurances, mortgages and retirement planning. Another branch is the investment adviser. They offer direct financial advice and asset management for individuals and corporate clients. They charge a percentage of assets under administration, annual basis or by "flat fee" basis. Other branch is the Financial Planner, which performs different services for theirs clients such as: general retirement planning, investing, insurance and tax strategies.