Long Island Accountant Reacts to an Article on How Effective Financial Advisors Impact Investment Decisions

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Long Island accountant at Diapoules & Feinstein CPAs P.C. responds to an article on identifying effective financial advisors and how they impact their clients’ investment decisions.

On January 12, Long Island accountant at Diapoules & Feinstein CPAs P.C. reacts to an article published by The Economic Times that identifies key attributes of an effective financial advisor and how the advisor impacts a client’s investment decisions.

According to article by Rohit Mehra in The Economic Times, an effective financial advisor will take the time to get to know clients in order to evaluate their expectations and their goals. “A true financial planner spends good quality time with his clients to understand his needs,” Mehra wrote. “He encourages his client to share insights about his portfolio without hiding existing investments or liabilities.”

Financial planners are responsible for assessing their clients needs and developing a plan that’s right for them. Based on the article, a financial planner’s job is: “identifying goals,” creating a “client’s timeline,” assessing “risk appetite,” and “building a portfolio.” Moreover, experienced and knowledgeable advisors can discuss investment options in various asset classes and help decide which option matches the client’s goals and his stage of life.

According to Long Island accountant Jim Diapoules, “This article gives good advice as to what to expect from a financial advisor. The controlling factors, however, should be your comfort level with your advisor’s advice and performance and your own good sense. We had clients that invested with Bernard Madoff and although they felt very comfortable with him they all had a lingering sense that the returns they were getting were too good to be true. You should meet frequently with your advisor and make sure that you have a good understanding of what your money is invested in. Never feel that any questions that you may have are not appropriate.”

Diapoules and Feinstein CPAs P.C. have been providing accounting, auditing and tax services to Greater New York City area since 1989. D&F provides our clients with great personal attention and years of professional experience in order to see them succeed and help them to feel confident.


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Jim Diapoules
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