In the last couple of years, I have spent more time speaking to financial advisors about how to be better financial advisors. Possess the 5 qualities. If those qualities are necessary to become a good investor, then that also must exist for a good advisor. I have met many advisors who lack these qualities and they give my industry a bad name. To review, a good advisor has the time, expertise, knowledge, resources and passion to invest.
Good advice goes far beyond investing.
Most people go to financial advisors to help them invest money. The reality is good financial planning and good tax planning goes much farther than good investment planning. A good financial advisor will recognize this truth. Product vs advice. A good financial advisor will recognize that advice is the distinguishing characteristic.