As a Finance Expert, you will be: participating in a wide array of important conversations. You will be making detailed, step by step explanations, answering many complex questions. you will also be making revisions on the fly with a collaborative group of editors. As a Finance Expert you will be the go to person for investment ideas, tools, advice and support for your clients. As a Finance Expert you will be considered an asset by your clients, trusted advisor, and be looked up to by your peers as a role model.
Becoming a successful Finance Expert hinges on your commitment to continuous learning. You should always be in pursuit of new information and its practical application in your field. An open mind is paramount because novel ideas often emerge from ongoing research and hands-on experience.
Furthermore, it’s essential to acquaint yourself with various terms associated with different investment sectors. In real estate investments, terms like closing costs, deed preparation, and equity release come into play. For stock market investments, understanding concepts like dividends, pledge holdings, and share splits is crucial. When dealing with derivatives, terms like Interest rate swaps, commodity futures, and credit default swaps enter the picture.
This comprehensive knowledge equips you to provide clear explanations of each investment type to your clients. Moreover, you can offer solutions and recommendations, including the suggestion to enlist professionals if needed, ensuring your clients have a robust understanding of their investment choices.
Second, I recommend that all finance experts create and maintain their own “auditor-complaint committee”. This is an important part of being an expert as this committee serves two purposes. First, the members of the audit-complaint Committee can ensure that you are following the rules, which will ultimately increase your value and reputation as an investment banker. Secondly, the members of the audit-complaint Committee can provide insight into areas of your business that could use some additional attention. If you have not had the benefit of experience as an investment banker, then this group can provide you with invaluable advice on how to better manage risk in your overall strategic plan.
The most successful finance experts take full advantage of their “auditor-complaint-chairman” or “audit-complaint-commissioner” role. This individual is responsible for thoroughly reviewing and thoroughly evaluating all internal controls and procedures and recommending appropriate changes based upon his or her experience as an investment banker. All financial experts should meet this strict standard. However, it is equally important for you as an investor to take full advantage of the services of your “auditor-complaint-commissioner”. This individual will have years of experience as an investment banker and will be able to provide you with important and insightful advice based upon his or her past experiences.
Last, but certainly not least, as an owner of a business you should engage the services of at least one expert who has both the skill set necessary to assist you in achieving your long term business goals while at the same time meets the fiduciary standard. The skills required of this type of expert include being a CPA and being board certified. As one expert told me: “board certified public accountants are dime a dozen… but until you have one of those skills you are basically just paying lip service to the laws.” Having only one expert who meets these high standards is extremely valuable because it allows you to get the maximum return on your investment while also insuring that you are protecting your hard earned asset (your business) from unscrupulous individuals with the potential to destroy it.