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What Does A Financial Advisor Do?

WHAT DOES FINANCIAL ADVISOR DO?March 21, 2021 |

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Farrukh Kazmi

What Does a Financial Advisor Do? | Financial Advisors | US News

What Does a Financial Advisor Do?

The financial advisor career involves much more than investment planning.

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What Does a Financial Advisor Do?

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Financial advisors stay busy with client meetings, keeping current on market events and much more.(GETTY IMAGES)

FINANCIAL ADVISORS HELP investors untangle the knot of their financial lives. They help clients draw a line from where they are today to where they want to be and then provide financial guidance to get them there.

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Guide for Financial Advisors

Financial advisors can be a significant part of their clients’ entire lives.

“As retirement planners, we want to be there for them throughout the remainder of their lives, and it’s important for me to make sure I’m not just the guy who handles their money,” says Andrew Wood, a retirement planning advisor with Daniel A. White & Associates in Middletown, Delaware.

There’s a common misconception that financial advisors spend all of their time studying investments. While investment planning is an integral part of the job, it’s often not the central part of what a financial advisor does.

[

SEE:

The Best Podcasts for Financial Advisors. ]

Sonya Ranker, a certified divorce financial analyst and certified financial planner at Questmont Strategic Wealth Advisors, estimates 30% of her time is specific to investments. “The rest of the time is more advanced planning and goal strategizing,” she says. “I review tax returns as much as I review investment statements.”

Beyond investment planning, here is what financial advisors do:

Meeting with clients.

Background planning for client meetings.

Staying up-to-date on market events.

Working with centers of influence.

Marketing.

What Does a Financial Advisor Do?

Financial advisors meet with current and prospective clients to assess their financial situations and create plans for their futures. When not in front of clients, they’re often preparing for client meetings, staying up-to-date on market events, working with other professionals, and marketing their services.

Financial advisors spend the majority of their time meeting with and talking to investors. Clients are “the engine of the business,” says John Harris, managing director of South Florida-based Coral Gables Trust Company. “We have to make sure our clients are getting what we promise and that they’re satisfied.”

To this end, the first and most important thing he does every day is to address any current or prospective client needs. “You always want to differentiate yourself in this business,” especially if you’re a smaller firm, he says. Responsiveness is one way to do that, as is flexibility in solutions.

Meetings With Clients

New limitations on in-person contact have changed the way advisors may meet with their clients. Being an essential business has only increased the need for advisors and their firms to be adaptable. While the means of communication may have changed from in-person to virtual, the importance of communicating at a high level and promptly with clients has not changed, Harris says.

At Coral Gables Trust Company, for instance, by quickly embracing virtual meeting platforms like Zoom and Microsoft Teams, they could keep all their offices open and continue providing the support their clients needed. “Our clients have expressed their gratitude for this,” Harris says.

Whether advisors meet their clients online or in the office, the structure of a client meeting remains largely the same.

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Client meetings are often spent “learning about their situations and putting together a plan of action to improve their situation and help them to reach their goals,” Wood says.

With existing clients, his goal is to uncover anything that’s changed in their situation and if adjustments need to be made to their financial plans. For prospects, he spends “a great deal of time just learning about their unique situations, what they’re looking for and what they need,” he says.

“It always comes down to the goals the client has outlined,” Ranker says. Their financial goals will shape the trajectory of the meeting and the background planning that goes into preparing for it.

Background Planning for Meetings

Background planning for meetings is where the investment analysis often comes into play. Preparation involves running diagnostics on client plans and researching investment solutions.

“We also spend time writing articles and creating materials that can be used during client meetings or presentations,” says Allison Vanaski, a senior financial planner and vice president of investments at Arcadia Wealth Management in Smithtown, New York.

Financial advisors are as much educators as they are advisors.

The biggest role Ranker takes on on a day-to-day basis is managing client behaviors and perspectives. “Most of the information people get is from the news,” she says. “They get wrapped up in the emotion of what’s happening on a day-to-day basis, and it separates the money and the performance from their actual life goals.” It falls to advisors to educate their clients about market cycles and volatility.

Following Market Events

Staying up-to-date on market events is an essential part of the job. When not working directly with clients or other team members, Vanaski is often reading up on current events and news that could impact her clients or researching better ways to serve those clients. She averages two face-to-face client meetings each day, with around 15 to 20 phone calls daily.

“It’s not all client phone calls,” Vanaski says. “We’re constantly working with accountants, attorneys, insurance agents, to brainstorm about client situations or review something they’re working on for our client.”

These other professionals are called centers of influence. They’re the experts who are advising clients in other areas of their lives.

Centers of Influence

Centers of influence can be key sources of client referrals for advisors. For instance, when a woman wants a different advisor than her former husband following a divorce, she may ask her attorney or accountant for a referral.

Harris spends a lot of time “right away, every day” ensuring those “important centers of influence are satisfied and taken care of,” he says. “If they have open questions about one of their clients, we make sure we’re addressing those.”

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SEE:

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Marketing

It’s all about marketing and keeping the business “engine” fueled through constant outreach and engagement. “Without a systematized marketing and growth plan, growth is inevitably quite difficult — much like the saying ‘if you aren’t growing you’re dying,'” says Dan Simon, a retirement planning advisor with Daniel A. White & Associates. His firm in Glen Mills, Pennsylvania and Middletown, Delaware holds two educational seminars a week on average to draw in new clients.

“The most successful financial advisors are very active and will be doing several events every week,” be it breakfasts, lunches, after-work events or even weekend outings, Harris says.

Most tasks that a financial advisor does is done with the goal of improving their clients’ financial lives. This can be challenging when everyone’s life situation is unique. To this end, many financial advisors choose to specialize in a particular nichefor clientele.

The types of financial advisor specializations can include:

A particular client group, such as women, teachers or millennials.

A type of planning, such as retirement planning, estate planning or insurance planning.

An investment style, such as socially responsible investing or income investing.

A specialization “allows you to become an expert in solutions that serve that specific market, distinguishing yourself from the firm down the street,” Simon says.

Coryanne Hicks, Contributor

Coryanne Hicks is an investing and personal finance journalist specializing in women and …  READ MORE

Tags: financial advisors, Investing Insights, financial goals, financial regulation, financial literacy, portfolio management, Financial Advisor Advice

Farrukh Kazmi

Farrukh Kazmi

Office: (856) 437-3215

Fax: (856) 437-3215

Mobile: (856) 630-0691

mkureshi@berthelrep.com

Registered representative of and securities offered through Berthel Fisher and Company Financial Services, Inc. (BFCFS). Member FINRA/SIPC. Investment advisory services offered through BFC Planning, Inc. A&S Asset Management, BFCFS, and BFC Planning, Inc. are independent entities.  Please note electronic mail is not secure: Berthel Fisher & Company does not accept or take responsibility for acting on time-sensitive instructions sent by email. The interpretations and organization of these ideas are the confidential thoughts of A&S Asset Management and do not represent the opinions of Berthel Fisher & Co. Financial Services, Inc. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. Please note that forward-looking statements do not ensure that the stated forecasts will come to pass. Please consult your Financial Representative for further information.

This material contains confidential information intended only for use of the individual or entity named.  It has been determined that the intended recipient meets the financial criteria to act upon this material. If you are not the intended recipient, you are hereby notified that any dissemination, distribution or copy of this transmission is strictly prohibited. If you receive this communication in error, please immediately notify the sender.

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A&S Asset Management

Farrukh Kazmi

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Hello,

We hope you and your families are well. With the recent news headlines and market we are experiencing, we wanted to reach out with an update to let you know that we are monitoring markets closely and share some thoughts.

Global markets have reacted sharply to the coronavirus outbreaks.  The coronavirus (known as COVID-19) is a new type of respiratory illness similar to the flu, with a fatality rate of around 2%.  It has spread to over 40 countries and more than 80,000 cases of infection have been reported.1 Headline risk continues to be a factor with more cases likely in the U.S. and around the world.  There is potential for a slow down in consumer spending and damaged sentiment as supply chains continue to be disrupted.  Travel restrictions could also increase and daily life could begin to be impacted.

There has been some progress in combating the virus with quarantines in China beginning to show positive affects.  Pharmaceutical companies are also bringing resources to bear, with a potential vaccine being sent to the National Institute of Allergy and Infectious Diseases for testing.2

The coronavirus outbreak has caused a significant amount of volatility in world markets and with the interconnectedness of the modern global supply chain there is concern for large-scale economic setback.  The question is if this volatility will be a temporary dip in economic production or if it is more of a catalyst to the backdrop of slowing economies around the world.  Several industries and economists have begun reducing revenue and growth estimates, with companies like Microsoft and Apple warning of disruptions to sales and supply chains.3

The current volatility will pass at some point, but for the near-term the uncertainty of the outbreak and struggle for containment of the coronavirus and its potential impact is being priced into the market.  Hindsight is always 20/20, but uncertainty at the time often causes selling, and it is not a new phenomenon.  Since the market bottom in 2009, this is the 18th time that the S&P is more than 5% off its highs.4 And earlier this week was the 260th time that the S&P 500 fell 2% or more on a single day.  Markets have a tendency to recover positively after these drops, and over this period the total return of the index was 1,640%. 5

Epidemics and outbreaks have also been experienced several times in the past.  Historically, however, Wall Street’s reaction to such epidemics and fast-moving diseases is often short-lived.  Stocks usually are on the mend within months of the fallout from disease outbreaks.6 The S&P experienced marked rises in the period following the outbreaks of SARS in 2003, Avian Flu in 2006, Ebola in 2014, and Zika in 2016.7 Of course, every instance is different and the past is no guarantee of the future.

We urge our clients to continue to be disciplined with investing and not to react with panic to headlines and unfolding events.  We will remain diligent in monitoring the markets and our team is here for you should you have any questions, to discuss adjustments that may need to be made to your portfolio or strategy, or just to chat.  

Sincerely,

Majid Kureshi

Farrukh Kazmi

1. https://www.cbsnews.com/live-updates/coronavirus-outbreak-death-toll-infections-latest-news-updates-2020-02-25/

2. https://www.bloomberg.com/news/articles/2020-02-26/moderna-extends-rally-with-another-vaccine-in-the-works

3. https://www.nytimes.com/2020/02/28/business/stock-market-today-coronavirus.html

4. https://theirrelevantinvestor.com/2020/02/25/is-the-stock-market-going-to-crash/

5. https://theirrelevantinvestor.com/2020/02/24/what-happens-when-you-buy-the-dip/  https://www.marketwatch.com/story/the-dow-is-off-by-more-than-a-1000-points-and-heading-for-its-second-worst-point-drop-in-its-history-heres-how-the-stock-market-tends-to-perform-afterward-2020-02-24

6. https://www.cnbc.com/2020/02/24/past-disease-outbreaks-show-investors-shoud-ignore-the-noise-of-coronavirus.html

7. https://www.marketwatch.com/story/heres-how-the-stock-market-has-performed-during-past-viral-outbreaks-as-chinas-coronavirus-spreads-2020-01-22

Farrukh Kazmi

A & S Asset Management

1714 Memphis Street

Suite 110

Philadelphia, PA 19125

Farrukh Kazmi

Office: (856) 437-3215

Fax: (856) 437-3215

Mobile: (856) 630-0691

mkureshi@berthelrep.com

Registered representative of and securities offered through Berthel Fisher and Company Financial Services, Inc. (BFCFS). Member FINRA/SIPC. Investment advisory services offered through BFC Planning, Inc. A&S Asset Management, BFCFS, and BFC Planning, Inc. are independent entities.  Please note electronic mail is not secure: Berthel Fisher & Company does not accept or take responsibility for acting on time-sensitive instructions sent by email. The interpretations and organization of these ideas are the confidential thoughts of A&S Asset Management and do not represent the opinions of Berthel Fisher & Co. Financial Services, Inc. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. Please note that forward-looking statements do not ensure that the stated forecasts will come to pass. Please consult your Financial Representative for further information.

This material contains confidential information intended only for use of the individual or entity named.  It has been determined that the intended recipient meets the financial criteria to act upon this material. If you are not the intended recipient, you are hereby notified that any dissemination, distribution or copy of this transmission is strictly prohibited. If you receive this communication in error, please immediately notify the sender.

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POTENTIAL OUTCOMES AND IMPACTS OF 2020 ELECTIONS 2020 ON MARKETMarch 24, 2021 |

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Hello everyone,

Farrukh Kazmi

We hope that everyone is keeping safe and healthy.  With the Presidential Election around the corner, there is a large amount of discussion surrounding potential outcomes and impacts.  It is fair to say that this election cycle is unique in many respects, and with starkly contrasting politics there has been no shortage of news to digest.  As the saying goes, “Elections have consequences.”  However, that does not necessarily translate to meaningful long-term impacts on markets.

Looking at the past, political party control of the White House has had marginal effect on markets over the long term.  Regardless of the political noise of crediting or blaming various administrations, a look at the chart below suggests long-term market returns have been historically apolitical, with the DOW returning similar results no matter who is in office.

Although there are varying elements of influence, markets overall tend to be resilient to such external factors, including control of Congress.  A breakdown of post-election history below shows that, on average over the course of a full term, markets again are somewhat neutral with regard to party affiliations.

By Farrukh Kazmi

Like many general elections, there are usually intensely contrasting policy stances.  Another factor that is frequently talked about is concern over potential market impact of tax policy changes.  Contrary to some popular mantras, the chart below illustrates that strong equity markets can in fact occur in the years surrounding tax increases.

Of course, past performance does not guarantee future results, and there are several elements and policies to consider that could affect markets.  With such an intensely contested election cycle and the accompanied uncertainty, short-term volatility could be expected.  After the election is settled, the focus may likely once again shift back to fundamentals of the economy, including pandemic recovery data and ongoing stimulus potential.

As we’ve shown that elections and policy outcomes can have uncertain impacts, we would urge our clients to not let politics be the sole dictator of their investing strategy, and to continue to have a diligent approach with our team to manage assets.  Regardless of the results of the 2020 Election, we are here to help you through this next phase of the market cycle.

Please stay safe and healthy, and feel free to reach out to us should you need to make any adjustments or even just to chat.

Sincerely,

Farrukh Kazmi Financial Advisor

https://institutional.fidelity.com/app/literature/view?itemCode=9900313&renditionType=pdf&pos=A

https://institutional.fidelity.com/app/item/RD_9899127/the-election-covid-and-markets.html?pos=A

https://www.alliancebernstein.com/library/Do-US-Elections-Matter-for-Equity-Investors.htm

Farrukh Kazmi

A & S Asset Management

1714 Memphis Street

Suite 110

Philadelphia, PA 19125

Farrukh Kazmi

Office: (856) 437-3215

Fax: (856) 437-3215

Mobile: (856) 630-0691

mkureshi@berthelrep.com

Registered representative of and securities offered through Berthel Fisher and Company Financial Services, Inc. (BFCFS). Member FINRA/SIPC. Investment advisory services offered through BFC Planning, Inc. A&S Asset Management, BFCFS, and BFC Planning, Inc. are independent entities.  Please note electronic mail is not secure: Berthel Fisher & Company does not accept or take responsibility for acting on time-sensitive instructions sent by email.

Our firm does not provide legal or tax advice. Be sure to consult with your own legal and tax advisors before taking any action that may have tax implications.

The interpretations and organization of these ideas are the confidential thoughts of A&S Asset Management and do not represent the opinions of Berthel Fisher & Co. Financial Services, Inc. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. Please note that forward-looking statements do not ensure that the stated forecasts will come to pass. Please consult your Financial Representative for further information.

This material contains confidential information intended only for use of the individual or entity named.  It has been determined that the intended recipient meets the financial criteria to act upon this material. If you are not the intended recipient, you are hereby notified that any dissemination, distribution or copy of this transmission is strictly prohibited. If you receive this communication in error, please immediately notify the sender.

This information is intended to be educational and is not tailored to the investment needs of any specific investor.

A&S Asset Management, BFC Planning, Inc., and BFCFS does not provide legal or tax advice. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. A&S Asset Management, BFC Planning, Inc., and BFCFS cannot guarantee that the information herein is accurate, complete, or timely. A&S Asset Management, BFC Planning, Inc., and BFCFS makes no warranties with regard to such information or results obtained by its use, and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information. Consult an attorney or tax professional regarding your specific situation.

Categories:

Farrukh Kazmi

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MARKET MELTDOWN UPDATEMarch 24, 2021 |

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Hello,

We hope you and your families are well. With the recent news headlines and market we are experiencing, we wanted to reach out with an update to let you know that we are monitoring markets closely and share some thoughts.

Global markets have reacted sharply to the coronavirus outbreaks.  The coronavirus (known as COVID-19) is a new type of respiratory illness similar to the flu, with a fatality rate of around 2%.  It has spread to over 40 countries and more than 80,000 cases of infection have been reported.1 Headline risk continues to be a factor with more cases likely in the U.S. and around the world.  There is potential for a slow down in consumer spending and damaged sentiment as supply chains continue to be disrupted.  Travel restrictions could also increase and daily life could begin to be impacted.

There has been some progress in combating the virus with quarantines in China beginning to show positive affects.  Pharmaceutical companies are also bringing resources to bear, with a potential vaccine being sent to the National Institute of Allergy and Infectious Diseases for testing.2

The coronavirus outbreak has caused a significant amount of volatility in world markets and with the interconnectedness of the modern global supply chain there is concern for large-scale economic setback.  The question is if this volatility will be a temporary dip in economic production or if it is more of a catalyst to the backdrop of slowing economies around the world.  Several industries and economists have begun reducing revenue and growth estimates, with companies like Microsoft and Apple warning of disruptions to sales and supply chains.3

The current volatility will pass at some point, but for the near-term the uncertainty of the outbreak and struggle for containment of the coronavirus and its potential impact is being priced into the market.  Hindsight is always 20/20, but uncertainty at the time often causes selling, and it is not a new phenomenon.  Since the market bottom in 2009, this is the 18th time that the S&P is more than 5% off its highs.4 And earlier this week was the 260th time that the S&P 500 fell 2% or more on a single day.  Markets have a tendency to recover positively after these drops, and over this period the total return of the index was 1,640%. 5

Epidemics and outbreaks have also been experienced several times in the past.  Historically, however, Wall Street’s reaction to such epidemics and fast-moving diseases is often short-lived.  Stocks usually are on the mend within months of the fallout from disease outbreaks.6 The S&P experienced marked rises in the period following the outbreaks of SARS in 2003, Avian Flu in 2006, Ebola in 2014, and Zika in 2016.7 Of course, every instance is different and the past is no guarantee of the future.

We urge our clients to continue to be disciplined with investing and not to react with panic to headlines and unfolding events.  We will remain diligent in monitoring the markets and our team is here for you should you have any questions, to discuss adjustments that may need to be made to your portfolio or strategy, or just to chat.  

Sincerely,

Majid Kureshi

Farrukh Kazmi

1. https://www.cbsnews.com/live-updates/coronavirus-outbreak-death-toll-infections-latest-news-updates-2020-02-25/

2. https://www.bloomberg.com/news/articles/2020-02-26/moderna-extends-rally-with-another-vaccine-in-the-works

3. https://www.nytimes.com/2020/02/28/business/stock-market-today-coronavirus.html

4. https://theirrelevantinvestor.com/2020/02/25/is-the-stock-market-going-to-crash/

5. https://theirrelevantinvestor.com/2020/02/24/what-happens-when-you-buy-the-dip/  https://www.marketwatch.com/story/the-dow-is-off-by-more-than-a-1000-points-and-heading-for-its-second-worst-point-drop-in-its-history-heres-how-the-stock-market-tends-to-perform-afterward-2020-02-24

6. https://www.cnbc.com/2020/02/24/past-disease-outbreaks-show-investors-shoud-ignore-the-noise-of-coronavirus.html

7. https://www.marketwatch.com/story/heres-how-the-stock-market-has-performed-during-past-viral-outbreaks-as-chinas-coronavirus-spreads-2020-01-22

Farrukh Kazmi

A & S Asset Management

1714 Memphis Street

Suite 110

Philadelphia, PA 19125

Farrukh Kazmi

Office: (856) 437-3215

Fax: (856) 437-3215

Mobile: (856) 630-0691

mkureshi@berthelrep.com

Registered representative of and securities offered through Berthel Fisher and Company Financial Services, Inc. (BFCFS). Member FINRA/SIPC. Investment advisory services offered through BFC Planning, Inc. A&S Asset Management, BFCFS, and BFC Planning, Inc. are independent entities.  Please note electronic mail is not secure: Berthel Fisher & Company does not accept or take responsibility for acting on time-sensitive instructions sent by email. The interpretations and organization of these ideas are the confidential thoughts of A&S Asset Management and do not represent the opinions of Berthel Fisher & Co. Financial Services, Inc. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. Please note that forward-looking statements do not ensure that the stated forecasts will come to pass. Please consult your Financial Representative for further information.

Farrukh Kazmi

This material contains confidential information intended only for use of the individual or entity named.  It has been determined that the intended recipient meets the financial criteria to act upon this material. If you are not the intended recipient, you are hereby notified that any dissemination, distribution or copy of this transmission is strictly prohibited. If you receive this communication in error, please immediately notify the sender.

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NEW YEAR 2020March 24, 2021 |

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2020 has brought upon us many challenges.  But within those challenges, opportunities.  The entire world went through tremendous change, many temporary and some permanent.  With so many changes this year, here are a few of the things that our families experienced:

While both of our families love to travel, this year we learned to be still, to breathe more, and appreciate the things immediately around us.  Fell in love with nature all over again.  Took more walks, rediscovered our neighborhoods.  Worked on patience.  Learned to cut my own hair (although the results are not exactly wife-approved!).

Found my inner chef and learned new cooking techniques (Dalgona-style coffee was among the early favorites).  Found new ways to support our neighbors and local small businesses.  Spent less, but gave more. Became better at organizing and CLEANED a lot!  Stopped going to the gym, and started doing more yoga and mindfulness.  Potty trained a toddler (HUGE quality of life improvement!).

Simplicity over novelty.  Contentment over desire.  Worked on being a better husband, better father, better friend, a better partner to my clients, better human.

Overall, just reevaluated the importance of elements of our lives and became more appreciative of the things that truly matter – our health, our relationships, our purpose.

We are honored to have you as part of the A&S Family and look forward to continuing our purpose in serving you in the coming year and beyond.

Please stay safe and well, and have a Joyous New Year!

With Gratitude,

Majid Kureshi

Farrukh Kazmi

Financial Advisor

P.S. Request – Please send us some of the new things you’ve tried or memorable activities that you had this year.  We’d love to hear about them!  See below for looking back on some of our year’s moments.

(A picture of a socially-distanced weekend on the beach day with our son, Ayaan)

(Our first quarantine family picture)

(trip to an Amish farm)

(getting outside, picking our own vegetables & fruits)

(2020 Summed Up in One Picture!)

Farrukh Kazmi

A & S Asset Management

1714 Memphis Street

Suite 110

Philadelphia, PA 19125

Farrukh Kazmi

Office: (856) 437-3215

Fax: (856) 437-3215

Mobile: (856) 630-0691

mkureshi@berthelrep.com

Registered representative of and securities offered through Berthel Fisher and Company Financial Services, Inc. (BFCFS). Member FINRA/SIPC. Investment advisory services offered through BFC Planning, Inc. A&S Asset Management, BFCFS, and BFC Planning, Inc. are independent entities.  Please note electronic mail is not secure: Berthel Fisher & Company does not accept or take responsibility for acting on time-sensitive instructions sent by email.

Our firm does not provide legal or tax advice. Be sure to consult with your own legal and tax advisors before taking any action that may have tax implications.

The interpretations and organization of these ideas are the confidential thoughts of A&S Asset Management and do not represent the opinions of Berthel Fisher & Co. Financial Services, Inc. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. Please note that forward-looking statements do not ensure that the stated forecasts will come to pass. Please consult your Financial Representative for further information.

This material contains confidential information intended only for use of the individual or entity named.  It has been determined that the intended recipient meets the financial criteria to act upon this material. If you are not the intended recipient, you are hereby notified that any dissemination, distribution or copy of this transmission is strictly prohibited. If you receive this communication in error, please immediately notify the sender.

This information is intended to be educational and is not tailored to the investment needs of any specific investor.

A&S Asset Management, BFC Planning, Inc., and BFCFS does not provide legal or tax advice. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. A&S Asset Management, BFC Planning, Inc., and BFCFS cannot guarantee that the information herein is accurate, complete, or timely. A&S Asset Management, BFC Planning, Inc., and BFCFS makes no warranties with regard to such information or results obtained by its use, and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information. Consult an attorney or tax professional regarding your specific situation.

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WHAT DOES FINANCIAL ADVISOR DO?March 21, 2021 |

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Farrukh Kazmi

What Does a Financial Advisor Do? | Financial Advisors | US News

What Does a Financial Advisor Do?

The financial advisor career involves much more than investment planning.

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What Does a Financial Advisor Do?

More

Financial advisors stay busy with client meetings, keeping current on market events and much more.(GETTY IMAGES)

FINANCIAL ADVISORS HELP investors untangle the knot of their financial lives. They help clients draw a line from where they are today to where they want to be and then provide financial guidance to get them there.

RELATED CONTENT

Guide for Financial Advisors

Financial advisors can be a significant part of their clients’ entire lives.

“As retirement planners, we want to be there for them throughout the remainder of their lives, and it’s important for me to make sure I’m not just the guy who handles their money,” says Andrew Wood, a retirement planning advisor with Daniel A. White & Associates in Middletown, Delaware.

There’s a common misconception that financial advisors spend all of their time studying investments. While investment planning is an integral part of the job, it’s often not the central part of what a financial advisor does.

[

SEE:

The Best Podcasts for Financial Advisors. ]

Sonya Ranker, a certified divorce financial analyst and certified financial planner at Questmont Strategic Wealth Advisors, estimates 30% of her time is specific to investments. “The rest of the time is more advanced planning and goal strategizing,” she says. “I review tax returns as much as I review investment statements.”

Beyond investment planning, here is what financial advisors do:

Meeting with clients.

Background planning for client meetings.

Staying up-to-date on market events.

Working with centers of influence.

Marketing.

What Does a Financial Advisor Do?

Financial advisors meet with current and prospective clients to assess their financial situations and create plans for their futures. When not in front of clients, they’re often preparing for client meetings, staying up-to-date on market events, working with other professionals, and marketing their services.

Financial advisors spend the majority of their time meeting with and talking to investors. Clients are “the engine of the business,” says John Harris, managing director of South Florida-based Coral Gables Trust Company. “We have to make sure our clients are getting what we promise and that they’re satisfied.”

To this end, the first and most important thing he does every day is to address any current or prospective client needs. “You always want to differentiate yourself in this business,” especially if you’re a smaller firm, he says. Responsiveness is one way to do that, as is flexibility in solutions.

Meetings With Clients

New limitations on in-person contact have changed the way advisors may meet with their clients. Being an essential business has only increased the need for advisors and their firms to be adaptable. While the means of communication may have changed from in-person to virtual, the importance of communicating at a high level and promptly with clients has not changed, Harris says.

At Coral Gables Trust Company, for instance, by quickly embracing virtual meeting platforms like Zoom and Microsoft Teams, they could keep all their offices open and continue providing the support their clients needed. “Our clients have expressed their gratitude for this,” Harris says.

Whether advisors meet their clients online or in the office, the structure of a client meeting remains largely the same.

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Client meetings are often spent “learning about their situations and putting together a plan of action to improve their situation and help them to reach their goals,” Wood says.

With existing clients, his goal is to uncover anything that’s changed in their situation and if adjustments need to be made to their financial plans. For prospects, he spends “a great deal of time just learning about their unique situations, what they’re looking for and what they need,” he says.

“It always comes down to the goals the client has outlined,” Ranker says. Their financial goals will shape the trajectory of the meeting and the background planning that goes into preparing for it.

Background Planning for Meetings

Background planning for meetings is where the investment analysis often comes into play. Preparation involves running diagnostics on client plans and researching investment solutions.

“We also spend time writing articles and creating materials that can be used during client meetings or presentations,” says Allison Vanaski, a senior financial planner and vice president of investments at Arcadia Wealth Management in Smithtown, New York.

Financial advisors are as much educators as they are advisors.

The biggest role Ranker takes on on a day-to-day basis is managing client behaviors and perspectives. “Most of the information people get is from the news,” she says. “They get wrapped up in the emotion of what’s happening on a day-to-day basis, and it separates the money and the performance from their actual life goals.” It falls to advisors to educate their clients about market cycles and volatility.

Following Market Events

Staying up-to-date on market events is an essential part of the job. When not working directly with clients or other team members, Vanaski is often reading up on current events and news that could impact her clients or researching better ways to serve those clients. She averages two face-to-face client meetings each day, with around 15 to 20 phone calls daily.

“It’s not all client phone calls,” Vanaski says. “We’re constantly working with accountants, attorneys, insurance agents, to brainstorm about client situations or review something they’re working on for our client.”

These other professionals are called centers of influence. They’re the experts who are advising clients in other areas of their lives.

Centers of Influence

Centers of influence can be key sources of client referrals for advisors. For instance, when a woman wants a different advisor than her former husband following a divorce, she may ask her attorney or accountant for a referral.

Harris spends a lot of time “right away, every day” ensuring those “important centers of influence are satisfied and taken care of,” he says. “If they have open questions about one of their clients, we make sure we’re addressing those.”

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Marketing

It’s all about marketing and keeping the business “engine” fueled through constant outreach and engagement. “Without a systematized marketing and growth plan, growth is inevitably quite difficult — much like the saying ‘if you aren’t growing you’re dying,'” says Dan Simon, a retirement planning advisor with Daniel A. White & Associates. His firm in Glen Mills, Pennsylvania and Middletown, Delaware holds two educational seminars a week on average to draw in new clients.

“The most successful financial advisors are very active and will be doing several events every week,” be it breakfasts, lunches, after-work events or even weekend outings, Harris says.

Most tasks that a financial advisor does is done with the goal of improving their clients’ financial lives. This can be challenging when everyone’s life situation is unique. To this end, many financial advisors choose to specialize in a particular nichefor clientele.

The types of financial advisor specializations can include:

A particular client group, such as women, teachers or millennials.

A type of planning, such as retirement planning, estate planning or insurance planning.

An investment style, such as socially responsible investing or income investing.

A specialization “allows you to become an expert in solutions that serve that specific market, distinguishing yourself from the firm down the street,” Simon says.

Coryanne Hicks, Contributor

Coryanne Hicks is an investing and personal finance journalist specializing in women and …  READ MORE

Tags: financial advisors, Investing Insights, financial goals, financial regulation, financial literacy, portfolio management, Financial Advisor Advice

Farrukh Kazmi

Farrukh Kazmi

Office: (856) 437-3215

Fax: (856) 437-3215

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mkureshi@berthelrep.com

Registered representative of and securities offered through Berthel Fisher and Company Financial Services, Inc. (BFCFS). Member FINRA/SIPC. Investment advisory services offered through BFC Planning, Inc. A&S Asset Management, BFCFS, and BFC Planning, Inc. are independent entities.  Please note electronic mail is not secure: Berthel Fisher & Company does not accept or take responsibility for acting on time-sensitive instructions sent by email. The interpretations and organization of these ideas are the confidential thoughts of A&S Asset Management and do not represent the opinions of Berthel Fisher & Co. Financial Services, Inc. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. Please note that forward-looking statements do not ensure that the stated forecasts will come to pass. Please consult your Financial Representative for further information.

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Cure your hook - Farrukh Kazmi

How to fix your Hook

Before I turned pro I had many years battling a hook with my Driver and Irons. I know that sinking feeling as you feel the ball leaving your club face and watch it sailing far off into the trees – it’s painful. Now, as a golf coach, I can hopefully save you a few hours, weeks or months on the practice ground with this guide on how to fix your hook.

farrukh kazmi

Farrukh Kazmi

What is a hook?

For a right-handed golfer a hook is a golf shot that starts right of your target, and curves left through the air finishing left of your intended target (left hand image – blue trace).

Farrukh Kazmi

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farrukh kazmi Barcelona

Farrukh Kazmi Barcelona is the second-largest city in Spain and one of the most popular tourist destinations in the country (if not the world). From family travelers to the cruise ship crowds to the hordes of young travelers that descend upon this city during the summer months, Barcelona has a little bit of everything for everyone. It is a city steeped in history (the Barri Gothic dates back to Roman times), architecture (Gaudi is everywhere), unique food (try some Catalan dishes and copious amounts of fish), and a wild nightlife that doesn’t even begin until 2 AM. I first came here in 2006 and have found myself drawn back here year after year, digging deeper into the food, culture, and history of this special place. I can never get enough of the city – it has an electricity that just animates your body. Its energy is infectious, its historic streets intoxicating, and its people full of life.

Farrukh Kazmi

[farrukh1posts]

farrukh kazmi Barcelona

Farrukh Kazmi Barcelona is the second-largest city in Spain and one of the most popular tourist destinations in the country (if not the world). From family travelers to the cruise ship crowds to the hordes of young travelers that descend upon this city during the summer months, Barcelona has a little bit of everything for everyone. It is a city steeped in history (the Barri Gothic dates back to Roman times), architecture (Gaudi is everywhere), unique food (try some Catalan dishes and copious amounts of fish), and a wild nightlife that doesn’t even begin until 2 AM. I first came here in 2006 and have found myself drawn back here year after year, digging deeper into the food, culture, and history of this special place. I can never get enough of the city – it has an electricity that just animates your body. Its energy is infectious, its historic streets intoxicating, and its people full of life.

Farrukh Kazmi

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10 posts!

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Switzerland - Farrukh Kazmi

7. The Language is Diverse, as is the Currency

If you think you speak the language where you’re staying, you might be surprised. The language that is spoken in Switzerland all depends on which direction you took the train. It could be French, Swiss German, Romansh or Italian. Switzerland is such a diverse country that it has four official languages. Their money, the Swiss franc is also diverse, but only in color. Pick up some at an exchange if only to see how beautiful it looks both in and out of the sun.

Farrukh Kazmi

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Farrukh Kazmi - Switzerland

Traveling to Switzerland - Farrukh Kazmi

It is of the most expensive countries in Europe, Switzerland is often skipped over by budget travelers.

Visiting Switzerland is not cheap, but before you even get out of the train station/airport, you’ll begin to wonder “how the heck did I spend so much money already?!”

We used Air BnB instaed of a hotel

Yet, while it is not a cheap destination, Switzerland is one of the most beautiful places on earth. Make sure you fit in Lauterbrunnen, it is a must see.

The country is home to shimmering lakes, picturesque mountains (hello Alps!), tiny walled medieval towns, soaring peaks, endless green fields you want to run through, delicious chocolate, icnredible beer, and friendly, welcoming people.

Everything runs on time here, the country is safe, and everyone is super nice. I loved my time traveling around Switzerland.

The country rocks no matter what time of the year you visit (summer hiking, winter skiing).

To help lower your costs, use this travel guide to Switzerland to help you plan your trip and save money!

Farrukh Kazmi

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Travel Lucerne-Farrukh Kazmi

Travel to Lucerne - Farrukh Kazmi

Lucerne, a compact city in Switzerland known for its preserved medieval architecture, sits amid snowcapped mountains on Lake Lucerne. Its colorful Altstadt (Old Town) is bordered on the north by 870m Museggmauer (Musegg Wall), a 14-century rampart. The covered Kapellbrücke (Chapel Bridge), built in 1333, links the Aldstadt to the Reuss River's right bank. - 

Farrukh Kazmi

The Chapel Bridge is Lucerne’s most iconic site. It’s an old wooden footbridge, the oldest of its kind in Europe, with a number of decorative paintings all along its interior. Take a stroll along and admire the artwork within, sit on the walls of the river and watch as the bridge lights up at night, when the Kapellbrücke is at its most spectacular.

Farrukh Kazmi

[farrukh1posts]

Farrukh Kazmi - Switzerland

Traveling to Switzerland - Farrukh Kazmi

It is of the most expensive countries in Europe, Switzerland is often skipped over by budget travelers.

Visiting Switzerland is not cheap, but before you even get out of the train station/airport, you’ll begin to wonder “how the heck did I spend so much money already?!”

We used Air BnB instaed of a hotel

Yet, while it is not a cheap destination, Switzerland is one of the most beautiful places on earth. Make sure you fit in Lauterbrunnen, it is a must see.

The country is home to shimmering lakes, picturesque mountains (hello Alps!), tiny walled medieval towns, soaring peaks, endless green fields you want to run through, delicious chocolate, icnredible beer, and friendly, welcoming people.

Everything runs on time here, the country is safe, and everyone is super nice. I loved my time traveling around Switzerland.

The country rocks no matter what time of the year you visit (summer hiking, winter skiing).

To help lower your costs, use this travel guide to Switzerland to help you plan your trip and save money!

Farrukh Kazmi

[farrukh1posts]

5 posts!

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Farrukh Kazmi

Charity Treks was formed in 2002 by a group of cyclists who had participated in the 2001 Montreal to Maine AIDS Vaccine Bike Trek, one of the last AIDSRides produced by Pallotta Teamworks. The original event was organized by Palotta TeamWorks but was cancelled in 2002 due to funding issues. A group of riders continued to do the ride that year despite the lack of organizational structure. The riders and volunteers were committed to the cause of raising the public awareness about AIDS, and felt compelled to not let this be a one-time event. As a result, a number or riders and volunteers gathered together to form a volunteer organization whose purpose is to forward the cause of AIDS awareness and raise funds for vital research in the development of a vaccine. 100% of funds raised are donated to the two charitable beneficiaries; Emory Vaccine Center and UCLA AIDS Institute Farrukh Kazmi

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Farrukh Kazmi - Majorelle Gardens farrukh kazmi

The Majorelle Garden is a two and half acre botanical garden and artist's landscape garden in Marrakech, Morocco. It was created by the French Orientalist artist, Jacques Majorelle over almost forty years, starting in 1923, and features a Cubist villa designed by the French architect, Paul Sinoir in the 1930s.

The Majorelle Garden was designed by the French artist, Jacques Majorelle (1886-1962), son of the Art Nouveau ébéniste (cabinet-maker) of Nancy, Louis Majorelle. As a young aspiring painter, Jacques Majorelle was sent to Morocco in around 1917 to convalesce from a serious medical condition. After spending a short time in Casablanca, he travelled to Marrakech and like many of his contemporaries, fell in love with the vibrant colours and street life he found there. After travelling around North Africa and the Mediterranean, he eventually decided to settle permanently in Marrakech.

In 1923, just four years after his marriage to Andrée Longueville, Majorelle purchased a four-acre plot, situated on the border of a palm grove in Marrakech and built a house in the Mooroccan style. In 1931, he commissioned the architect, Paul Sinoir, to design a Cubist villa for the property. Gradually, he purchased additional land, extending his holding by some 10 acres. In the grounds around the residence, Majorelle began planting a luxuriant garden which would become known as the Jardins Majorelle (Majorelle Garden). The garden became his life's work and he devoted himself to developing it for almost forty years.[2]

Farrukh Kazmi