We all have different goals and responsibilities in our lives. A student, married couple, retired person may have different goals for their future. This all need proper financial planning. But when we think of long term goals, financial planning needs to be more systematic which needs a finance consultant. Finance consultant is a person who provides consulting services to the clients to minimize their risk and monetarily maximize their investment money. The main purpose of finance consulting is to assist clients in the planning and arrangement of their financial affairs, such as savings, retirement provisions, tax treatment and wills. He may help the clients to invest for both long and short term goals. It is the finance consultant’s duty to determine the clients’ goals and risk tolerance and then to recommend appropriate investments.
Hence, a finance consultant should have the knowledge in almost all the fields like budgeting, taxation, forecasting, allocation of assets, tools and products etc. He must possess certain important requirements such as excellent negotiation and communication skills, ability to explain complex matters to clients, ability to solve financial problems tactfully as well as easily, and good command over subjects like mathematic, computer, and statistics, extensive knowledge on different types of products, accuracy, and trustworthiness and honesty. The finance consulting services may differ by clients, their business, their requirements and financial capabilities. Generally, services include collecting and organizing important data like client’s financial statements, tax and credit reports to get the current financial status, analysis and determination of data by keeping in mind the immediate financial requirements of clients, supervising the progress of the plan and making necessary modifications in the plan to suit the present financial situation of the client etc. Different types of finance consultants include fee-only consultants and commission-based consultants.
However, it is vital to make a thorough investigation regarding the reputation and service rendered by a finance consultant you have chosen. You must ensure that he should be licensed and registered. You can easily find an expert with the help of sources such as the internet, yellow books, magazines, and reviews.
In today’s market conditions and cut-throat competition it is very hard to survive and get success upon that. So, the change is vital in all factors which are important for the success of any organization and corporations. Good foresight, proper planning and execution, human resources and constant research are the main contributing factors in success of any corporation. However, corporate banking is also one of those important factors that are to be considered for the growth and development of any corporation. Corporate banking requires a huge knowledge base and experience to service all requirements of commerce and industry. It includes a huge selection of commercial and transactional products and services. It also provides the comprehensive and sophisticated services that a large company requires in today’s business world. However, most of the top banks have a separate corporate banking section specially to cater the needs of companies that are different in requirements and scale as compared to an average small to medium enterprise. Some of the corporate banking services may include specialist bank accounts like community banking, school banking, private banking, agricultural accounts or specialist mortgage etc. Some may have specific finance schemes for certain projects like farm loans, GP surgery expansion etc. Client call account allows you to hold your clients cash separately from your business cash. A solicitor might put the deposit for a house which is paid on exchange of contracts in such an account.
Hire purchase or lease purchase schemes are available where items of large capital value can be bought, for a set rate each month, over an agreed period of time. Some of the typical corporate banking products and services include corporate funding or financing, bank guarantees, syndication services, foreign exchange services, investments, stocks, comprehensive internet banking facilities etc.To be concluded, corporate banking plays a vital role in business or corporate world without which one can’t achieve the desired goals.