Work Process of Investment Advisory Companies in Nairobi | Audit and Accounting Firm in Kenya

Investment advice refers to the offerings of personal recommendations to a customer for a financial transaction. The recommendations are provided after considering the potential risks and returns on a certain financial transaction. The recommendations might concern a sale, a purchase, a subscription or any other financial transaction. Since this is related to financial transactions, it is imperative to consider professional investment advisory companies in Nairobi that are duly authorized to provide financial advice. Investment advisory companies in Nairobi are gradually increasing because of the diversified and well-established economy along with strong business sector. With the increase of opportunities in horticulture, agriculture, mining, power generation, manufacturing and state-owned opportunities, Kenya has become one of the prime areas of interest for investment. This blog on investment advisory companies in Nairobi is going to identify the core processes involved in offering financial services and how exactly do the financial advisory companies work.

The Core Processes Involved in Offering Financial Advisory Services

The sole objective of financial investment advisory companies in Nairobi is to help individuals or groups in planning their savings, income, and investments. A lot of people don’t know how to utilize the mutual funds, equities, properties, individual retirement accounts, insurance, tax-sheltered investment plans and real-estate. The role of a financial advisor is to offer ways to utilize all the assets in the best way to generate maximum profit. Customer service is the heart of financial advising. Here are the core processes of a financial advisory services company.

Research: Investment advisory companies in Nairobi need to be extremely well versed with the features, limitations, and benefits of the products that are available to the clients. They assist their clients in buying certain products like annuities, money market funds, life-insurance, equity-based mutual funds, college savings plans and other instruments. Some of these are designed to grow wealth for a certain period of time, while others are designed
to make sure that you have a comfortable retirement. The advisors should be aware of the new developments and the products available in the industry. Finally, make sure that the financial investment advisory companies that you have shortlisted, are certified, licensed and experienced as well.

Prospecting: A lot of times, investment advisory companies in Nairobi rely on the word-of-mouth referrals from the existing clients for obtaining new clients. Instead, it is better to rely on the traditional sales prospecting techniques, especially in the early years. Financial advisors spend a lot of time in “cold calling”, purchasing mailing lists, and in-person solicitations to large businesses as well. There are other methods of finding new clients that
include speaking at seminars, attending trade conferences and placing advertisements.

Developing Proposals: Most of the financial investment advisory companies in Nairobi have a library of proposals. The genre of financial investment is huge. This is why it is important to send specific service proposals to address clients who require particular services. The proposals are mostly focused on the current business challenges and activities that the company/individual will undertake for improving their financial condition. As a
learning exercise, sometimes junior-level consultants are assigned for the creating the proposal.

Closing the Deal: Once the decision-makers (that can be the management of a company or an individual) have reviewed the proposal of the financial advisory company they decide whether their services will be suitable for their business requirements. If they like the kind of services that the financial investment advisory companies in Nairobi promise to offer, both the parties sign a service contract. There are certain duties involved after closing the
deal. Some of them include in-house work and periodic visits to the business site for reporting, tactical activities, and progress meetings that are agreed within the service contract.

Customer Service: Once a financial advisor secures a client and gets a thorough understanding of his/her financial situation, the advisor uses a mix of personal conversations and formal assessment tools for creating a client-specific profile that can be altered over a period of time. Subsequent to the meetings, the advisor offers various financial options that meet the requirements of the client. Also, there are discussions on unique features, tax implications, and fees that enable a client to make an informed decision.

Account Maintenance: The financial advisors handle all the transactions between their clients and the financial institutions that are offering different investment products. The advisors need to fill out and submit applications for the financial products and then forward the initial cash deposits or rollover funds of the clients. If a client wishes to make a withdrawal or deposition from their accounts, the financial investment advisory companies
in Nairobi will personally handle the transaction. The advisor also acts as the mode of communication between the financial institutions for obtaining periodic reports on the client’s account.

Now that we have discussed the core processes of the financial investment advisory companies in Nairobi, let us share the importance of consulting such a company.

The Importance of Contacting a Financial Investment Advisory Company

Financial Data Management: For any business organizations, the accounting structure is extremely important and sensitive. The financial investment advisory companies in Nairobi can help in ensuring that the financial records are being maintained in compliance with lawful and accepted procedures and policies on every corporate level. Be it a business organization or an individual, it is important to have a secured, licensed and professional
organization that can help in planning and development of sophisticated financial investments.

Contingency Planning: We mentioned that, financial advisory companies in Nairobi help you in planning and executing sophisticated financial investments. But the future is always uncertain. Your financial investments may not work out. This is why it is always important to have a contingency plan. You cannot form a solid contingency plan by yourself, and this is why we need professionals to do that for us. These financial investment companies have analysts and accounting experts who can analyze the potential risks and also protect your finances.

Saves Time: Another benefit of hiring a financial investment advisory company is that it will save a lot of time. They are professionals and since they are going to take care of your investments, it will take a certain task off your plate. Yes, you have to meet your financial investment advisory company, but this will save you a lot of time and reduce stress.

More Options: When you get in touch with different investment advisory companies in Nairobi, you will have more options on how to manage your finances and increase your wealth. Even if you don’t have alternative sources of investments, access to individual stocks, bonds or mutual funds, you won’t have to worry. A financial investment advisor will be able to help you because they can suggest a wider range of assets. Thus, you can get a broader investment portfolio, or, a more focused one. This will depend on your goals and risk tolerance.

Perspective: Finally, the strength of a financial advisor is the capability to listen and offer emotional support through different phases of life. When an individual passes through difficult times like divorce or the death of a spouse, it helps if you have a dedicated person to call. This ensures that the short-term issues will not hamper an effective long-term strategy. It cannot be denied that every investment involves some kind of risk. But if you have a relationship with a trusted financial investment advisory company like Ronalds & Associates that offer personalized and comprehensive service, you can have a peace of mind regarding your financial future.

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