How to Sharpen Financial Competence for Directors and Executives

Financial competence is not a static variable, in that it is something that is ever-changing, and the skills associated with being financially competent must be sharpened consistently. The fact is that failure to have financially competent decision makers can be highly destructive to an organization. What is meant by “financially competent” goes well beyond being able to identify credits or debits or being able to properly read financial reports. Being financially competent should focus on one’s ability to break down the financial information provided in those reports and analyze how they should be used to determine the financial path of the organization going forward.
Furthermore, a person must be able to understand how risk factors into the financial decision making matrix and how that risk should affect the courses of action taken by the company. These are the things that separate competent financial management from incompetent financial management. This is likely a major reason why roughly 21% of all CEOs serve in a financial oversight position prior to becoming a CEO and why almost a third of CEOs have served in a financial capacity at some point in their careers. It is also important to realize that the outcome of certain situations has no bearing on the competence of the decisions that have been made. The fact is that poor financial leadership can still yield success from a periodic standpoint. In the same manner that an unskilled Poker player can have a run of “good luck” and win big in a night of gambling, so to can incompetent financial managers “GET LUCKY”.
The problem with depending on luck to manage the financial infrastructure of an organization is two-fold:
1. Luck does; and will always run out at some point in time
2. Financial management isn’t gambling; especially when considering what’s at stake whether it is the shareholders, the market, the employees, or the customers; there is simply too much at stake to make financial management a “Coin Flip.”
To ensure that the key decision-makers are financially competent it is incumbent upon management to analyze the knowledge of these individuals and provide opportunities for them to update and hone their skills as it relates to financial management. The good news is that most organizations generally select the financial decision-makers within their organization by doing a thorough search; this generally allows them the opportunity to select the person that they feel best can handle the position.
Furthermore, most organizations that utilize committees to help manage operations have a financial management committee (as it is considered to be the most common among companies with three or more committees). The problem is that many companies don’t understand the position enough to fully handle this search, so they end up hiring people that have had past success without determining whether the source of that success was luck or skill.
If the current global economic calamity has taught us anything; it has taught us this: When the economic climate is advantageous to organizations it is much easier to seem competent than when things go bad. In a good economic climate decision-makers can take huge risks and if they win they are superstars; if they lose there are generally opportunities to mitigate that loss (either by acquiring debt capital; increasing sales, or raising equity funds just to name a few).
In a bad market we have discovered that THE SAFETY NETS ARE GONE; and risky decisions have real consequences. In this market we are finally paying the price to learn that there is a real difference between corporate sponsored gambling and effective financial management. What we need to do now is train current and future financial decision-makers about what makes an executive financially competent, and what does not. This will produce more effective financial decision-makers and more importantly it will provide a future asset for companies that will assist them in diverse market situations; NOT JUST WHEN TIMES ARE GOOD.
The solution: The following are some of the steps that key decision-makers need to take in order to assist the company in building a more competent and more effective financial management infrastructure.
1) Your executive Finance team: To have a financially competent executive team; YOU NEED A TEAM; there is ALWAYS an inherent danger in leaving major financial decisions to a few individuals. The fact is that we are talking about money; and when that is the subject then many times self interest replaces corporate interest in the decision making hierarchy. Furthermore a company that has a properly chosen team of individuals to make decisions provides a system of checks and balances which mitigate the risks associated with these decisions.
2) Training Courses in Finance: Another conduit would be to get a day or two day workshop in financial training where current decision makers receive tutelage in financial decision making from an application standpoint instead of an academic or theoretical standpoint. Bringing in people that have a history of being competent financial managers will be helpful. But also teaching examples of how poor decisions have destroyed companies would be helpful as well. Many course offer sound coverage of financial topics of importance. However, it is important to check background, experience and credentials of the trainer before embarking on a course.
3) Get a Coach or Corporate Consultant: Coaching at executive level has proven to be popular in many parts of the world. Experts believe that the value an executive coach (whether it is a successful consultant, former executive, or entrepreneur) adds, significantly impacts progression and drives performance to a higher level. There are many coaches available but you need to ensure you get a coach who will listen to your concerns at the same time offer the right and relevant professional advice. With the advent of the internet, organizations also offer virtual coaching support.
4) Have self-analysis meetings: At least once a year all organizations should seek to have a meeting with all people involved in the financial decision making process (executives, senior financial/accounting personnel, board members, etc.) and simply have a brain-storming session that focuses on the direction of the organization; future financial needs, current financial position, etc. These meetings have a way of bringing issues to light that otherwise would stay in the dark; and furthermore you want all of these people to work well with each other, and this is a good platform to start from.
While most organizations believe that the decision making aspect of their financial infrastructure is at least competent; the fact is that many organizations aren’t aware of what constitutes competence as it relates to financial decision making. The fact is that, no matter where your organization is located, the WORLD HAS CHANGED for companies; to stay prosperous companies must focus on sustainability and not luck; they must focus on consistency and not major peaks. Financial competence has little to do with an education in finance, it has everything to do with how your executives can use that information and analyze the health and the future of the organization. Those that understand this are in an advantageous position; those that don’t are playing with fire.
CAUTION: While all the above (and others) may prove useful, the idea is not to micromanage and get bogged in deep financials. Keeping it simple is the message. I believe if boards can set criteria through Executive Policy Development from the onset, keeping it simple yet covering all financials of your organization is the way forward. Subsequent monitoring of the financial health at appropriate intervals will help you shape your organisation’s financial strength further. After all, it is all about accountability at board level.
Vijay Mistri
CEO and founder
http://www.rentadirector.com
Corporate multimedia training products, management and board training and coaching.

Increase Your Financial IQ

Robert Kiyosaki, author of this text entitled Increase Your Financial IQ is an investor, entrepreneur and educator whose perspectives on money and investing align with conventional wisdom. Kiyosaki has challenged and changed the way many people around the world think about money.
Born and raised in Hawaii, this financial expert is a fourth-generation Japanese-American. After graduating from college in New York, Kiyosaki joined the Marine Corps and served in Vietnam as an officer and helicopter gunship pilot.
On the question of whether money makes one rich, this author says it is not so. He explains that money alone does not make one rich, adding that we all know people who go to work every day, work for money, make more money, but fail to become richer.
This financial expert asserts that ironically, many only grow deeper in debt with the money they earn. Kiyosaki says we have all heard stories of lottery winners, instant millionaires, who are instantly poor again. He adds that again, we have heard stories of real estate going into foreclosure, and instead of making homeowners richer, more financially secure, real estate drives homeowners out of their homes and into the poorhouse.
Kiyosaki says many of us know of individuals who have lost money investing in the stock market. He educates that even investing in gold, the world’s only real money, can cost investors money.
According to him, this text is not a get-rich one or a text about some financial magic formula. Rather, he says it is about increasing your financial intelligence, your financial IQ. It is about getting richer by getting smarter and the five basic forms of financial intelligence required to grow richer, regardless of what the economy, stocks, or real estate markets are doing, reveals this author.
Structurally, this text is segmented into ten chapters. Chapter one is interrogatively entitled What is financial intelligence? In this author’s words here, “Money alone does not solve your money problems. That is why giving poor people money does not solve their money problems. In many cases, it only prolongs the problem and creates more poor people.”
Kiyosaki educates that hardwork also does not solve money problems, stressing that the world is filled with hardworking people who earn money, yet grow deeper in debt, needing to work even harder for more money.
He says education does not solve money problems, adding that the world is filled with highly educated poor people.
According to Kiyosaki, it is only financial intelligence that solves all money problems. In his words, “In simple words, financial intelligence is that part of our total intelligence we use to solve financial problems… Financial intelligence solves these and other money problems. Unfortunately, if our financial intelligence is not developed enough to solve our problems, the problems persist… Many times they get worse, causing even more money problems. For example, there are millions of people who do not have enough money set aside for retirement. If they fail to solve that problem, the problem will get worse, as they grow older and require more money for medical care.”
This author reiterates that whether or not you like it, money does not affect lifestyle and quality of life, adding that the freedom of choice that money offers can mean the difference between hitchhiking or taking bus or travelling by a private jet.
Chapter two is based on the subject matter of the five financial intelligence quotients (IQs). Kiyosaki educates that the five basic financial IQs are: Making more money (Financial IQ No 1); protecting your money (Financial IQ No2); budgeting your money (Financial IQ No3); leveraging your money (Financial IQ No4) and improving your financial information (Financial IQ No5).
As regards difference between financial intelligence and financial IQ, he says, “Most of us know that a person with a mental IQ of 130 is supposedly smarter than a person with an IQ of 95. The same parallels can be drawn with financial IQ. You can be the equivalent of a moron when it comes to financial intelligence… Financial intelligence is that part of our mental intelligence we use to solve our financial problems. Financial IQ is the measurement of that intelligence. It is how we quantify our financial intelligence. For example, if I earn $100,000 and pay 20 per cent in taxes, I have a higher financial IQ than someone who earns $100,000 and pays 50 per cent.”
Kiyosaki explains that in this example, the person who earns a net of $80,000 after taxes has a higher financial IQ than the person who earns a net of $50,000 after taxes. Both have financial intelligence, but the one that keeps more money has a higher financial IQ, educates this expert.
In chapters three to seven, the five financial IQs already discussed in chapter two, are elaborately examined respectively.
Chapter eight is christened The integrity of money. According to Kiyosaki here, “‘Integrity’ is an interesting word. I have heard it used in many different ways and in different contexts. I believe it is one of the more misused, confused, and abused words in the English language. Many times I have heard someone say, ‘He has no integrity’, or ‘If they had any integrity, they would be more successful’. Someone else might say, ‘That house has integrity of design’.”
This author says before discussing the integrity of money, it is necessary to define Integrity. Kiyosaki says “Integrity”, according to Webster, can be defined as “Soundness” (an unimpaired condition); “Incorruptibility” (firm adherence to a code of especially moral or artistic values) and “Completeness” (the quality or state of being complete or undivided).
This expert educates that just as health can break down from a literal lack of integrity, so can wealth be compromised by lack of integrity. “Instead of disease or death, which comes from a breakdown in the body’s integrity, symptoms of a lack of financial integrity are low income, crippling taxes, high expenses, excessive debt, bankruptcy, foreclosure, increased crime, violence, sadness, and despair,” expatiates this author.
He says the integrity of all the five financial IQs is needed to grow rich, stay rich and pass wealth on to generations after you. Kiyosaki asserts that missing one or more of the financial IQs is like someone who does not know how to drive attempting to drive a car that has brakes without pads, and water in the gas line.
In this author’s words, “When a person is struggling financially, one or more of these financial intelligences is out of whack, financial integrity is not sound, and the person is not complete. For example, I have a friend who earns a lot of money as a manager of a small business. Her problem is she has no protection against taxes, plus she does not budget wells, spends impulsively to buy clothes and goes up in price. She gets her financial advice from her husband and his (the husband’s) financial planner.”
In chapters nine and ten, this author beams his intellectual searchlight on the concepts of developing your financial genius and developing your financial IQ.
As regards style, this text is a prototype for stylistic excellence. For instance, most of the illustrations are based on the financial experiences of the author himself, thus lending credibility and conviction to the text. The language is simple and the presentation very didactic. Kiyosaki generously employs graphical embroidery to achieve visual reinforcement of readers’ understanding and make the layout of the text eye-friendly.
However, conceptual repetition is noticed in chapters three to seven where the five financial IQs already discussed in chapter two are further examined. One would have expected him to have harmonised chapters two to seven. Probably, Kiyosaki wants to create emphasis through deliberate repetition.
Also, the word “Intelligence” whose grammatical behaviour in the dictionary shows that it is an uncountable noun as reflected by the symbol “U” against it, is still used in this text in a countable way on pages 150 and 151 where we have “Intelligences”.
In spite of the few errors, this text is fantastic. It is a must-read for those who want to accomplish financial freedom and abundance through concrete financial education.
GOKE ILESANMI, Editor-in-Chief/CEO of www.gokeilesanmi.com and Managing Consultant/CEO of Gokmar Communication Consulting, is a Certified Public Speaker/Emcee, (Business) Communication Specialist, Motivational Speaker, Career Management Coach, Renowned Book Reviewer, Corporate Leadership Expert and Editorial Consultant.
Tel: +234(0)8055068773; Tel: +234(0)8056030424
Email: gokeiles2010@gmail.com

Financial Markets – An Overview

When a transaction takes place in financial markets, there is always a risk factor associated with the transaction. The various risks that financial markets are usually associated with are:
• The lender may not repay the money to the borrower,
• There may be an abnormal upward or a downward movement in the price of securities, thereby hampering the interest of the buyer or seller of securities respectively,
• Negative sentiments or expectations may make some financial instruments unattractive or the whole financial market an unattractive place to the investors and force them to withdraw their investments, resulting in deep plunge of prices of the securities which once seemed very luring and attractive,
• Change in the fiscal policies of the government may make the financial markets unattractive for foreign or domestic investors,
• Change in political power in a country may result in a preferential treatment to one industry, and/ or step-motherly treatment to another, which was not foreseeable by the investors, thereby sharply decreasing the value of their securities.
From the above discussion, we can understand that investment in Financial Markets entails a lot of risks. There are other risks associated to investing in financial markets which may be a result of many composite factors which are closely or remotely related; like serious fluctuations in foreign markets or in Indian scenario, failure of monsoons. To tide over this problem, various hedging securities are traded in the financial markets. The holders of these kinds of instrument lower the risk that is associated with financial markets, by purchasing the risk that is associated with a kind of transaction. Therefore, the holders of hedging instruments are not a party to the original transaction. They are merely the ones who minimize the risk in a transaction by purchasing the risk associated with a transaction. Since these financial instruments are derived from another transaction, these instruments are also called ‘derivatives’. The ones who buy the risk are compensated in monetary terms. The higher the risk, higher will be the compensation and vice versa.
CONCLUSION:
“An investor without investment objectives is like a traveler without a destination.”
~Ralph Seger (Founder, Seger-Elvekrog Inc.)
Financial Markets are complex and unpredictable. The movements in financial markets of one country may be the effect of incidents occurring in some foreign land. It may be difficult to comprehend the financial markets at a given time and place. However, an intelligent player in financial markets always takes decisions by carefully studying the trends in the financial markets and closely following the cues in the domestic and international markets.
One also needs to be clear as to why one wants to enter the financial markets. If one wants to enter as an investor, one should invest in securities which have the potential of returning his investment with interest after the period of time for which one wants to invest. In this case one should generally purchase securities which are safe and have a reputation of giving good returns. On the other hand, if one wants to trade in securities, one should carefully study the trends prevailing in the day to day markets and make an intelligent decision by basing one’s judgment on that ground. To minimize risks, one should have a diverse portfolio, so that even if one or some of the investments suffer, the others make good one’s loss.
To conclude, the author would like to admit that financial markets are a very interesting playground, in which a player needs to be flexible and patient. There may be initial hiccups when one starts investing, however, with time, as one starts to understand the financial markets, things start falling in place; and a reminder, never under-estimate the result of a remotely connected incident in financial markets.
“It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.”
~ George Soros (Chairman, Soros Fund Management)
Kawaljit Singh Bhatia

Why Work With a Fee-Only Financial Advisor?

When you accept professional advice on how to invest, save, and grow your hard-earned money, you have certain expectations from your financial advisor: expertise, professionalism, ethics, and independent, sound financial advice. If you’re not working with a Fee-Only Financial Advisor, you may not be getting what you bargained for. Why?
According to the Bureau of Labor Statistics, in 2008 there were over 208,000 financial advisors in the United States, with that number expected to rise to 300,000 by 2018. However, of those, only 2,000 are Fee-Only and members of the National Association of Personal Financial Advisors (NAPFA). Unlike transaction-based financial consultants who make their money on commissions earned from selling financial products, Fee-Only financial advisors do not sell any products, nor do they work on commissions. Instead, they are paid a flat fee by the client for independent financial advisory services they provide, rather than from the investments recommended. Let’s break it down:
No Sales / No Commissions
Many financial advisors are “Commission-based” which means their income is directly linked to the financial products and investments they sell you. Make no mistake, they are selling; these individuals may call themselves financial advisors, but they are really just financial salespeople. Here’s why: It is more lucrative to recommend certain investment products over others because of the commissions they earn. Therefore, it is very difficult for you, the client, to evaluate whether the “advisor’s” particular investment recommendation is most appropriate for your portfolio, or if it’s most financially lucrative for the consultant himself. By contrast, Fee-Only financial advisors do not sell any products nor earn commissions; their only source of income is from their clients. Therefore, clients understand that Fee-Only Advisor works only for their clients’ best interest, and are not wed to any investment company, product, or even insurance company. As a result, advice is unbiased and independent, with no conflicts of interest – they are free to recommend investments and products that are in the best interest of the client rather than the company’s bottom line. It’s important to determine whom your financial advisor is really working for: you or the company whose products are being recommended?
Fee-Based
In recent years, the term Fee-Based was introduced by the large investment firms in response to the growing demand for Fee-Only. Buyer beware: Fee-Based is not the same as Fee-Only. Fee-Based financial advisors can collect both fees and commissions, and they may also be incentivized to recommend certain products endorsed by their sponsoring firms.
Fiduciary Standard
A fiduciary is a financial professional who is held out in trust, and is legally obligated to put their clients’ interests above their own. Fee-Only financial advisors are the only financial consultants who operate under a fiduciary standard; transaction based financial consultants operate under what is known as a suitability standard, which is a much looser standard. In addition, Fee-Only financial advisors are highly regulated by either State or Federal regulators. If your financial advisor is unwilling to sign a fiduciary oath committing to put your interests above his/her own, then it’s time to work with someone who is Fee-Only.
Solutions Based vs. Product Based
A product-based approach is whereby a specific product is recommended or sold to the client, sometimes irrespective of the client’s particular financial circumstances and goals. Transaction, Commission, and Fee-Based advisors are typically trained on only the products they sell and/or recommend, thereby taking a product-based approach to their clients’ portfolios. The problem with the product-based approach is that providing comprehensive financial advice should be a process with multiple steps, integrating the client’s holistic financial and non-financial reality. Fee-Only Financial Advisors always take a holistic approach with each client, and offer more objective advice on a plethora of investment options. As part of the holistic approach, Fee-Only financial advisors recognize that they can not work in financial silos, but rather in coordination with the client’s other professional consultants such as CPAs, attorneys, and estate planners. In this way, clients can rest assured that all actions taken related to their finances are commensurate with their overall needs and circumstances.
Moral of the Story
Always do research and ask a lot of questions before you enter into a professional relationship with a financial advisor. Whether you have $10,000 or $10 million to invest, your financial consultant should be paid only by you, commit to a fiduciary standard, and be free from any conflicts of interest. Fee-Only financial advisors fulfill all of these requirements.
ACap Asset Management is an independent, Fee-Only Investment Advisory Firm. At ACap, we believe in investing, not speculating. Our goal is not to speculate on the direction of the market, but rather to achieve a healthy rate of return that allows our clients to reach their financial dreams without exposing them to unreasonable risk.
Our clients rely on ACap as their trusted and independent financial expert because we are committed to upholding the highest measures of financial knowledge, objectivity, and ethical practices. Whatever your financial goals may be, ACap can help you reach them.
No Sales + No Commissions = No Conflicts of Interest

The Secrets to Finding a Financial Advisor

1. How often do they meet with their clients?
It is important to know how often your financial advisor expects to meet with you. As your personal situation changes you want to ensure that they are willing to meet frequently enough to be able to update your investment portfolio in response to those changes. Advisors will meet with their clients at varying frequencies. If you are planning to meet with your advisor once a year and something were to come up that you thought was important to discuss with them; would they make themselves available to meet with you? You want your advisor to always be working with current information and have full knowledge of your situation at any given time. If your situation does change then it is important to communicate this with your financial advisor.
2. Ask if you can see a sample of a financial plan that they have previously prepared for a client.
It is important that you are comfortable with the information that your advisor will provide to you, and that it is furnished in a comprehensive and usable manner. They may not have a sample available, but they would be able to access one that they had fashioned previously for a client, and be able to share it with you by removing all of the client specific information prior to you viewing it. This will help you to understand how they work to help their clients to reach their goals. It will also allow you to see how they track and measure their results, and determine if those results are in line with clients’ goals. Also, if they can demonstrate how they help with the planning process, it will let you know that they actually do financial “planning”, and not just investing.
3. Ask how the advisor is compensated and how that translates into any costs for you.
There are only a few different ways for advisors to be compensated. The first and most common method is for an advisor to receive a commission in return for their services. A second, newer form of compensation has advisors being paid a fee on a percentage of the client’s total assets under management. This fee is charged to the client on an annual basis and is usually somewhere between 1% and 2.5%. This is also more common on some of the stock portfolios that are discretionarily managed. Some advisors believe that this will become the standard for compensation in the future. Most financial institutions offer the same amount of compensation, but there are cases in which some companies will compensate more than others, introducing a possible conflict of interest. It is important to understand how your financial advisor is compensated, so that you will be aware of any suggestions that they make, which may be in their best interests instead of your own. It is also very important for them to know how to speak freely with you about how they are being compensated. The third method of compensation is for an advisor to be paid up front on the investment purchases. This is typically calculated on a percentage basis as well, but is usually a higher percentage, approximately 3% to 5% as a onetime fee. The final method of compensation is a mix of any of the above. Depending on the advisor they may be transitioning between different structures or they may alter the structures depending on your situation. If you have some shorter term money that is being invested, then the commission from the fund company on that purchase will not be the best way to invest that money. They may choose to invest it with the front end fee to prevent a higher cost to you. In any case, you will want to be aware, before entering into this relationship, if and how, any of the above methods will translate into costs for you. For example, will there be a cost for transferring your assets from another advisor? Most advisors will cover the costs incurred during the transfer.
4. Does your advisor have a Certified Financial Planner Designation?
The certified financial planner (CFP) designation is well recognized across Canada. It affirms that your financial planner has taken the complex course on financial planning. More importantly, it ensures that they have been able to demonstrate through success on a test, encompassing a variety of areas, that they understand financial planning, and can apply this knowledge to many different applications. These areas include many aspects of investing, retirement planning, insurance and tax. It shows that your advisor has a broader and higher level of understanding than the average financial advisor.
5. What designations do they have that relate to your situation?
A Certified Financial Planner (CFP) should spend the time to look at your whole situation and help with planning for the future, and for achieving your financial goals.
A Certified Financial Analyst (CFA) typically has more focus on stock picking. They are usually more focused on selecting the investments that go into your portfolio and looking at the analytical side of those investments. They are a better fit if you are looking for someone to recommend certain stocks that they feel are hot. A CFA will usually have less frequent meetings and be more likely to pick up the phone and make a call to recommend purchasing or selling a specific stock.
A Certified Life Underwriter (CLU) has more insurance knowledge and will usually provide more insurance solutions to help you in reaching your goals. They are very good at providing techniques to preserve an estate and passing assets on to beneficiaries. A CLU will generally meet with their clients once a year to review their insurance picture. They will be less involved with investment planning.
All of these designations are well recognized across Canada and each one brings a unique focus on your situation. Your financial needs and the type of relationship you wish to have with your advisor, will help you to determine the necessary credentials for your advisor.
6. Have they done any extra courses and for what reasons?
Ask your prospective advisor why they have done their extra courses and how that pertains to your personal situation. If an advisor has taken a course with a financial focus, that also deals with seniors, you should ask why they have taken this course. What benefits did they achieve? It is fairly easy to take a number of courses and get several new designations. But it is really interesting when you ask the advisor why they took a certain course, and how they perceive that it will add to the services offered to their clients.
7. Who will be meeting with you?
In future meetings will you be meeting with the financial advisor, or with their assistant? It is your personal preference whether or not you wish to meet with someone other than the financial advisor. But, if you want that personal attention and expertise, and you want to work with only one individual, then it is good to know who that person will be, today and in the future.
8. Are you the ideal client for the advisor?
Are your financial needs similar to many of their clients? What can they show you that indicates a specialization in your area and that they have other clients in your situation? Has the advisor created any marketing pieces that are client friendly for those clients in your situation, over and above what they offer other clients? Do they really understand your situation? Once you have explained your personal needs and the type of client you are, it should be easy to determine if you are an ideal client for the services they provide.
9. How many clients do they work with?
It is important to know how many clients your prospective advisor works with. Are you one of 100 clients or one of 1000? Based on your assets are you in the top 15%, or the bottom 15% of their clients? These are important things to know. Ask if you are one of their top clients or one of their bottom clients, if will you receive more attention or less attention?
10. Do they have a network of professionals that they trust and can refer you to when you have a need?
It is valuable for an advisor to have a strong network of professional individuals available to their clients, in which they have full trust. Your advisor should know and trust these individuals completely, so that if an issue arises with them, your advisor will be able to go to bat for you.
11. Ask the financial advisor for a list of clients that you can contact.
Are there any clients that have given testimonials and who would be willing to speak to you about the advisor and the services provided? Ask these individuals how they enjoy working with the advisor and their staff. Ask some of the questions that you have asked the advisor, such as, Who do they meet with when they have their meetings, the advisor or an assistant?
12. How does the financial advisor contribute to the community?
Whether or not this is important to you, it is a good question to ask. You will discover if the advisor has given back to the community and if they are doing things over and above the day-to-day job to give back and help others.
13. How do they feel they will best help you and support you in achieving your goals?
This may be a question that you want to ask the advisor in a second meeting, if you have a two meeting process. Ask: How can they bring value to the relationship? What do they feel they can help you with? What will they do to ensure that you achieve your goals?
14. Do they have any tools that they have developed specifically for their clients?
I have touched on this earlier as well. This is really where you can see if a financial advisor is pro-active and if they specialize in a specific area or a specific type of client. An advisor who is pro-active should be creating some tools or have some processes in place to support their clients in their target market. Some of the tools will be used behind the scenes, but should be able to be explained to you, and provided to you during your relationship, to help you achieve your goals and keep you on track.
15. Do they prefer to meet at their office or are they willing to come to your house and why?
It is a great idea to go to the advisor’s office to meet with them initially if you are able to do so. This will allow you to see their office and their working environment; and, it will give you a sense of what type of an advisor they are, and the clients, with which they work. In the same respect, if you do not live close to their office, you should question if they are willing to come to meet with you at your home. If not, you will want to understand why they want to meet only in their office. Likely, they believe that they can provide the best possible service where all of their paperwork and resources are readily available, despite which questions might arise. They may prefer to come to your home once to see your environs and to get a better understanding and feel for the type of client you are. But, if you are unable to get out to meet with them, or if your situation in this regard changes in the future, you will want to know how this will be managed.
16. Do they do financial planning, and if so, do they charge for it?
If you are looking for somebody who is going to look at your overall situation, and who is going to spend the time to help you plan how to meet your goals, you will want an advisor who is proficient at financial planning. If you are looking for a broker whom you simply want to be able to phone to have them place a trade for you, then you will not need financial planning. Understanding whether financial planning is provided is a key component. Be very careful that you are actually getting financial planning when you ask an advisor if they do financial planning. Also, you must understand whether or not there are any fees associated with the planning service. Some advisors may charge an additional fee for the planning on top of everything else that they do, while others will provide you with an actual financial plan at no additional cost.
17. Do they look at the whole picture or only one area?
It is important to know if the prospective advisor has a particular focus. Are they proficient with investments, insurance, financial planning, retirement planning, taxes, and estates? Will this one person be able to take over all of these areas for you? Will you be able to establish a relationship with one solid individual who understands all aspects of your financial situation? Or will they only help you with your investments and have someone else do your taxes, your insurance, your estate planning and retirement planning? Will you need to go out and find the others who do that? It is important to understand if the advisor can look at the whole picture or only one or two areas. You will be able to achieve your goals more quickly if an advisor can service your entire financial portfolio, because each of those areas mentioned, needs to understand and complement the others, while not undermining them, which may occur if various individuals are working on different aspects of your financial plan.
Things to think about during the process
Is it convenient to meet with the advisor? Are they able to meet with you at a time of your liking, or did you have to go out of your way to set up the initial meeting? Are you comfortable with them and their staff? Do you get a good feeling from what they do and what they say to you? Do you sense that they have your best interests in mind? Is their office setting efficient and comfortable?
Interview a number of different advisors before you make a change. This will help you to understand what each one does differently, and it will give you a good idea as to how they will help you to determine exactly what your goals might be. You might even come to realize that your present situation is the best for you at the moment. Talking to several potential advisors will help you to develop a path toward the achievement of the goals that are most important to you, and help you to understand who is best to partner with, in order to achieve those valued goals.
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Massage in Bucharest

Recognize it! You’re busy! And so must be! That’s what life is like! But you want more than that, you want to do more for yourself and massage can help. Because massage makes more than a simple relaxation of the mind and body. It keeps your body in shape and gives you enough energy to make you enjoy a longer life better than you do it today.

Massage releases stress. At the moment, stress is a universal evil. Every time you are late, every time you avoid a car in traffic, every time you have trouble working, stress is doing his job. Each time adrenaline increases heart rate and cortisone levels and organs respond to the measure. You will be in a state of nerves and constant agitation.
When there is no release of stress, serious problems such as an upset stomach, hypertension, sleep disturbances, chest pain, or existing illness may worsen.

Some of the changes that may occur are: Anxiety, lack of concentration, depression, permanent fatigue, muscle or bone pain, sexual dysfunction, excessive sleep or insomnia

All these stress-related problems can be diminished and some can be totally eliminated by massage. The researchers concluded that a massage session can lower heart rate and blood pressure, relax your muscles and increase endorphin production. The massage also releases serotonin and dopamine and the result is a general relaxation, both physical and mental.
Our body care must be at the top of the priorities.
By adding the massage to your routine you will look much better and you will be much healthier and relaxed. Massage can improve your vitality and mood. Massage can prepare for a long and beautiful life.

Our masseuses personalize each massage session according to the needs of the individual.
Our massage parlors offer a variety of relaxation styles and techniques to help you. Apart from relaxing, massage can be a powerful ally in reducing pain, increasing energy levels, improving mental and physical performance

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After a massage session, you will see how the mental prospects are enriched, the body allows easier handling, better pressure resistance, relaxation and mental alertness, calm and creative thinking.
When you have the impression or force yourself to stay straight, your body is not actually aligned properly. Not only does the posture look bad, but it forces some of the muscles to go muddy all day, while others become weaker. After a long time, the incorrect position may cause other drops. For example, internal organs press on what affects digestion, breathing ability is also diminished, which means that much less blood and oxygen reaches the brain and hence all sorts of other complications.

Massage allows you to return your body to the track. Allowing the body to make healthy and accurate movements is one of the greatest benefits of massage. Massage can relax and restore muscles injured by bad posture, allowing the body to position itself in a natural, painless position.
Apart from posture, there is also anxiety. One of the signs of anxiety and stress can also be heavy breathing. When the body begins to breathe too little and deeply instead of breathing at a natural rithm, it is impossible for one to relax. One reason may also be that the chest muscles and the abdomen get tightened and the air gets harder.

Massage plays an important role in learning the body how to relax and how to improve breathing. Respiratory problems such as allergies, sinuses, asthma or bronchitis are a group of conditions that can benefit from massage. In fact, massage can have a positive impact on respiratory function.

Many of the muscles in the front and back of the upper part of the body are breathing accessory. When these muscles are tight and shorten they can block normal breathing and interrupt effective breathing natural rithm. Massage techniques for stretching and relaxing these muscles improves breathing function and breathability. Massage leads to an opening of the chest as well as structural alignment and nerve dilatation that are required for optimal pulmonary function. A good way to treat respiratory problems with massage is the taping made in Swedish massage. When done on the back, along with vibrations, it can detach the mucus from the lungs and can clean the airways for better later function.

Massage not only relaxes muscles, but helps people become aware of daily stress levels. Once the body recognizes what really means relaxation, the mind can rest easily relax before the stress becomes cornice and harmful. This will help you enjoy a balanced life. Massage controls breathing, allows the mind to re-create relaxation before the occurrence of chronic and harmful stress and increases the level of energy.