I suppose many people think that people in competitive businesses tend to steer clear of each other. While it’s understandable that competing companies don’t want their competitors to know what they are doing it doesn’t necessarily mean that you can’t be friends should the occasion arise. While it’s not possible for competitors to give each other any significantly valuable advice they can indeed swap a few yarns about what’s happening in their business. In this game of being financial advisors we are all trying to achieve the same goal, and that is to make sure our clients invest wisely and that the money they entrust to us is managed efficiently and well enough to provide returns that make them happy.
If I were going to meet with a fellow financial advisor, there would certainly be a few stories I could tell, and no doubt listen to a few from him or her as well. One such story is probably worth repeating here in this article as it was to do with a guy I knew who mainly used the Internet and chatting with friends and relatives down at the pub to get, what he thought, was the necessary information to invest his money wisely. While I have no objections to people doing their own investing, I would probably not recommend the method this person adopted.
We brokers spend all our waking hours and even some of our sleep time observing, ruminating, and dissecting financial news that is coming to us from all directions. Online, newspapers, apps and some very innovative programs, that will cost you an arm and a leg are the tools we use to be able to provide imaginative and low-risk investment advice. To get involved with the IFCM CFD broker business requires a great deal of knowledge, understanding and being able to follow the right processes. The other thing about trading on the stock exchange is that if you are not licensed to do so, then the costs are quite considerably more than if you deal through a licensed broker. So whether you use a financial advisor or not, you still require to be able to have some sort of an account with an authorized person.
If you work with a talented group such as IFC markets, who are a leading brokerage company, you will, at least, have the opportunity to use a full range of trading instruments. Many of these enterprises such as IFC have been smart enough to develop their own tools and offer them exclusively to their clients. Although I’m a financial advisor, I still use a licensed brokerage company to do my share buying and selling on behalf of my clients.
Before, when I was talking about getting into friendly discussions with competitors, this is the sort of information that we don’t mind discussing. We certainly never talk about our private clients and whether we are going swimmingly well or desperately bad. Kidding! We do, however, discuss the ups and downs of the market which usually result in planning, buying and selling and our challenge then is to be able to convince our clients not to do anything rash. With investments spread over a number of different areas, even a global financial disaster such as that which occurred a few years ago will only leave you out of pocket for a short period of time. It’s a proven fact that as bad as markets go when they fall they always come back bigger, better, stronger.