Tips & Advice
What are financial products?
Financial products are designed to help you achieve objectives such as saving money, obtaining insurance, establishing a line of credit, investing, or getting a mortgage. Financial products are issued by organizations such as banks, credit unions, investment management firms, mortgage companies, insurance agencies, credit card companies, and stock brokerages.
What is a financial consultant?
A financial consultant is a professional who is qualified to provide guidance in the area of financial management. Some of these experts work for financial institutions, while others are self-employed and work directly with the public. A financial consultant can help you develop a financial strategy focused on savings, retirement, investments, or insurance, and Many are licensed to sell financial products such as stocks and bonds.
Types of financial services
- Financial planning: With financial planning, a financial adviser can help you chart a course to achieve a specific financial objective. Financial planning can be focused on things such retirement planning or funding your child's college education.
- Insurance: Insurance can be used to protect your most valuable assets, and policies are available to cover items such as your car and your home. Insurance can also be used to provide a source of income if you become disabled, and it can cover the costs associated with long-term care. Life insurance can be used to provide funds for your dependents after your death.
- Investment management: A well-chosen investment portfolio can provide you with consistent income over the years, and professional investment management can provide guidance to make smart portfolio choices. Investment management might involve the purchase of products such as stocks, bonds, and mutual funds.
- Loans: A loan can help provide the funds you need to finance large purchases, and can cover your expenses in emergency situations. Loans can be used to finance the purchase homes and cars, and they can be used to provide the funds for home remodeling or major car repair.
- Credit cards: A credit card allows the holder to purchase goods and services using credit issued by the card's provider.
Trust and estate planning: With trust and estate planning, you can create a strategy to ensure that your assets are passed on to the beneficiaries of your choosing.
What do financial services companies do?
Financial services companies provide financial planning, insurance policies, estate planning, investment management, loans, and credit cards. These financial services companies include retail and commercial banks, internet banks, stock brokerages, credit card companies, insurance companies, investment banks, credit unions, savings and loans associations, and mortgage companies.
What are financial services?
Financial services are professional services associated with the management of money and assets. These services include investment activities, such as those related to stocks, bonds, and mutual funds. Loans and lines of credit also fall under this umbrella. Additionally, financial services include insurance coverage and tax preparation.
Can a paralegal provide legal services independent of an attorney?
Paralegals can provide legal services independent of an attorney’s supervision – but with limitations. They can provide legal document services, information about the law, and some other limited services. But as they are not licensed law practitioners, and therefore cannot legally represent clients in (or outside of) court.
Is a paralegal the same as a legal assistant?
A legal assistant and a paralegal can perform a similar set of tasks and functions. However, paralegals are not likely to be handling any administrative duties or additional work outside the legal sphere. While their work paths may cross, a legal assistant’s time spent on a case is not billable, whereas a paralegal’s time can be and usually is billable.
Do paralegals need to be licensed or certified?
Paralegals do not need to be licensed or certified to be a paralegal. In some cases, certification is completely voluntary, at an employer’s request, or unnecessary. You do not have to have a certificate to be a working paralegal.
What kind of education is required to become a paralegal?
A paralegal has to earn a certificate or degree in legal or paralegal studies from an accredited program or institution. After earning the degree they can find on-the-job training and experience at a firm, corporation, or organization. The final step, which is usually optional, is to get certified through an accredited association.
What does a paralegal do?
A paralegal does work that typically supports attorneys, which can include legal research, document drafting, and other tasks. Paralegals might also assist attorneys in preparing for trials and hearings. All legal-based work done by the paralegal is the responsibility of the supervising attorney. While paralegals can provide basic legal services, they are not licensed attorneys and cannot represent clients in court.