Jayhawk Advisors Shares 5 Things You Probably Didn’t Know a Finance Planner Can Do For Your Business
With the proliferation of financial-blogs, investment Apps and Robo-advisors, many are wondering whether it is worth hiring a financial advisor. Financial advisors specialize in providing money management solutions in a wide variety of places, i.e. independent consultancies and insurance and financial companies such as banks and investment firms. According to a report published by CNBC, the main reasons for seeing a financial advisor are as follows:
- When personal changes arise – changes or milestones in personal life, such as marriage and having a baby must be managed well to ensure a sound financial future. This is important because financial disagreements in marriage can easily cause financial strain and damage a relationship.
- When you experience wealth changes – if your financial fortunes have risen as a result of a pay rise, new job offering or inheritance, you may need a financial advisor to help you make the most out of the windfall. The advice can cover everything from savings to investment strategies.
- When you need emotional support – catastrophic financial events such as the 2008 Financial Crisis and the Dot.com Bubble often cause jitters among investors and the general populace. A financial advisor can be called in during a crisis to provide objective advice. For clients with facing financial disclosure challenges, the advice can help instill honesty in financial reporting.
The things a financial advisor does that you probably did not know?
Financial planning can be hectic if things don’t fall as planned. Besides providing crucial advice on investment matters, money management, and retirement planning, financial advisors can do much more. According to Business Insider, here are 4 things you probably didn’t know the experts:
- Tax planning
Any money that can be saved through tax planning can go a long way to boost your financial health for years to come. A Certified Financial Planner (CFP) will carefully study your tax returns to help you find ways to manage and maximize your finances and taxes. For real estate investors, investment advice can help stem future losses and consolidate gains.
- Loan negotiation
Using their knowledge in finance and investment, financial advisors and planners can help clients find the best interest rates when applying for loans and mortgages. In the case of the later, the financial expert can negotiate loan rates and close real estate sales on your behalf.
- Financial therapy
Although financial advisors and planners are not licensed counselors, they are well-informed about the psychology of money and how it affects the human mindset. Subconscious beliefs about money have been shown to affect how people earn, spend and save money. During the therapy sessions, the advisor will come up with a sound financial plan to help clients prosper.
- Exploit the loopholes in insurance coverage
A CFP trained financial advisor can audit all the insurance policies held by individuals and businesses, i.e. life, property and liability insurance coverage. The insights obtained from the audit can be used to help clients find insurance loopholes and reduce the due amounts. One of the best advice is obtaining a cost-saving, umbrella coverage for home, vehicle, and other liabilities.
- Work with your employer
The advisors are also well-placed to work with employers to optimize various worker benefits. For instance, an advisor can work with your employer’s HR manager and 401(k) providers to discuss best plans to implement and cost savings options. The support can also cover incomes from investment, annuities, IRA accounts and other less known retirement and investment accounts.
The Debt Advice You Can Trust!
People who need advice on issues like tax planning, investment planning, and debt management can seek valuable support from financial advisors. Consumers with high-interest loans are constantly bombarded with unending monthly payments that come with far-reaching implications on one’s credit standing and peace of mind. The Illinois based Jayhawk Advisors is a financial advisor in the business of making a difference. The company is focused on promoting the client’s financial well-being since it understands the importance of achieving financial goals.
The Jayhawk online debt estimating calculator is easy to use. All you need to do is enter your particulars, including name, address, estimated household income, monthly credit card payments and estimated credit card debt to know how much you can save. The other popular tool from Jayhawks is the debt management solution, which prioritizes what a client needs by offering low interest, single monthly payment plan. To get in touch with Jayhawk Advisors, visit the company website or call 1-800-781-7547 to speak to a friendly representative.
The Ultimate Guide to the Essential Social Skills in Business
Effective communication and strong relationships are essential for success in the workplace. One factor that can greatly influence these qualities is emotional intelligence, often abbreviated as EQ. EQ refers to the ability to identify, understand, and manage one’s own emotions, as well as the emotions of others. Research has shown that individuals with high levels of EQ are better equipped to handle stress, communicate effectively, and work collaboratively with others (Chamorro-Premuzic & Sanger, 2016).
Research has consistently shown that emotional intelligence (EQ) is an important predictor of job performance and success in the workplace. EQ is comprised of a set of skills that allow individuals to recognize, understand, and regulate their own emotions, as well as the emotions of others. In addition, individuals with high EQ are better able to communicate effectively, build relationships, and navigate complex social situations. As a result, they are often viewed as effective leaders and collaborators, and are more likely to achieve their personal and professional goals.
In fact, a number of studies have demonstrated the significant impact that EQ has on job performance and success. For example, one study of 85 upper-level managers found that those with higher EQ scores were rated as more effective leaders by their subordinates (Law, Wong, & Song, 2004). Another study of 151 employees found that those with higher EQ were more likely to be promoted within their organization over a five-year period (Carmeli, Brueller, & Dutton, 2009). These findings highlight the importance of EQ in the workplace and suggest that developing these skills can lead to significant benefits for both individuals and organizations.
According to a study conducted by TalentSmart, a leading provider of EQ assessments, EQ is responsible for 58% of success in all job types (Bradberry & Greaves, 2009). In contrast, IQ only accounts for about 4% of success in the workplace. This suggests that EQ is a crucial skill set for individuals in any professional field. Fortunately, EQ is a skill that can be developed and honed over time with practice and awareness.
There are several key components of EQ that are particularly important for success in the workplace. These include:
Self-Regulation: This refers to your capacity to recognize and control your emotions. Sometimes treating them when they arise may be necessary. Understanding how to manage your anger is essential. However, it can also cover how to control the feelings you’ll experience.
Self-Awareness: This implies recognizing and understanding your own feelings. Do noisy places make you nervous? Do other people talking over you make you angry? Knowing these truths about yourself shows that you are working on your self-awareness. Being conscious of yourself is necessary for this phase, which can be more complex than it sounds.
Socialization: This category focuses on your capacity to manage social interactions and direct relationships. It doesn’t entail dominating others but knowing how to work with others to achieve your goals. This could entail presenting your ideas to coworkers, leading a team, or resolving a personal disagreement.
Motivation: Strong motivators include external forces like money, status, or suffering. Internal motivation, however, plays a significant role in Goleman’s concept. By doing so, you demonstrate your ability to control your cause and initiate or continue initiatives of your own volition rather than in response to external demands.
Empathy: It’s equally critical to be sensitive to others’ feelings. This may entail learning to identify different emotional states in individuals — for example, can you tell the difference between someone at ease and someone anxious? — but it also requires comprehension of how other people may react to their current situation. Empathy is one of the essential traits in business and business leadership.
A thought leader in this space, Michael Ventura has built a career advising organizations on the importance of emotional intelligence in the workplace. In his book, Applied Empathy, Ventura highlights the value of empathy in business and provides strategies for developing and applying this skill set. With two decades of experience as a leader, facilitator, and educator, Ventura’s work has made impact in with prestigious institutions such as Princeton University and the United Nations as well as corporate clients such as Google and Nike.
Through his work, Ventura advises leaders to focus on the development of EQ in order to help individuals improve their communication, collaboration, and leadership skills, ultimately leading to greater success in the workplace. Experts like Ventura continue to support the growing body of research on the value of EQ in business, and the evidence that organizations who invest in the EQ of their teams help to create a more empathetic and successful professional environment.
And it’s worth noting that EQ isn’t just important for individual success in the workplace, but also for overall organizational success. A study by the Center for Creative Leadership found that EQ was a better predictor of success than IQ or technical skills in the workplace, and that teams with higher levels of EQ tend to be more effective and productive (Boyatzis, Goleman, & Rhee, 1999). By cultivating a culture of empathy and emotional intelligence, organizations can improve their overall performance and create a more positive work environment for their employees.
In conclusion, emotional intelligence is a crucial component of success in the workplace, and individuals and organizations alike should prioritize the development of these skills. The ones that do not only develop a leading edge in their category, but also become a meaningful place to work for their teams. And in today’s rapidly changing talent landscape, the retention of highly capable, emotionally intelligent leaders is one of the greatest keys to unlocking success.
Boyatzis, R. E., Goleman, D., & Rhee, K. S. (1999). Clustering competence in emotional intelligence: Insights from the emotional competence inventory (ECI). In R. Bar-On & J. D. A. Parker (Eds.), Handbook of emotional intelligence (pp. 343-362). Jossey-Bass.
Bradberry, T., & Greaves, J. (2009). Emotional intelligence 2.0. TalentSmart.
Chamorro-Premuzic, T., & Sanger, M. N. (2016). Does employee happiness matter? Journal of Organizational Effectiveness: People and Performance, 3(2), 168-191.
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