Investments in its purest sense is the ability to find the alpha generating assets, companies, trades. Customers with a visible goal in mind can have a documented understanding of the issue. Those critical areas can be Budgeting, Asset Allocation, Goal preference, Loans & Credit, Emergency Fund, Asset Mapping to goals. Any of the 9 drivers that I talk about. It’s not a theoretical process and it’s not only understanding the macro problem but also the nuances.
A business consultant, first of all, has to have the ability to understand function over form and cause over effect, because the consultant is going to either be brought in for a specific or a macro problem. A specific problem can be, “My website’s not getting any traffic.” The macro problem can be, “Were not getting enough sales,” or, “We’re getting beat in the market.” And you’ve got to be able to be causation-focused. You have to first look at the effect, but then determine what is really causing it. And then you’ve got to be able to deal not with form – “Oh, you just need better marketing” – but you have got to be able to understand function.
You have got to know that the micro, the granular, reality-base alternatives and know that one alternative doesn’t fit all. Let’s take a look at a complex business scenario as an example. Let’s say that you’re selling a supplement for weight loss.
What Is the Difference Between a Good and a Bad Advisor?
I’ll give you an example about a fictional character "Mr Praveen Poddar". Being a Vice President of the wealth Management Business, When he advise any of the customers about investing, his advice is bound to be biased because of the vested interest in the commission earnings from high risky investments. Make a decision impetuously without really assessing the current market situation and clients personal situation, probably was dangerous.
Good Advisor : Discloses all the commissions or either a Fee Based one!
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