The field of finance covers a variety of topics including how people and businesses handle their money and assets and how to prepare for risks and liabilities. Finance is a very complicated matter which is connected to the economy. If one is being hit hard, like the economic fall in 2008, then the other will be worse for the wear as well. Finances are not naturally stable, they can be influenced by many factors such as the sale of a new item brand or the merger of two companies. Anything that can be bought or sold has some impact on the ever fluctuating financial market.
There are three major groups that finance can be broken down into. They are public, personal, and corporate finance. Public finance works with businesses that can be considered sub-national entities, like schools and hospitals, and look at debt insurance and budgeting. Personal finance works with everyday people and helps them plan for the future, make wills for inheritance, and pay for taxes. Corporate finance is much more complex then the other two groups because each business is unique and there is so much it can cover. It helps corporations deal with anything from hedging strategies, to portfolio performance, to risk management and everything in between. Each group has it own lingo and set of rules which can make it difficult for anyone who has to work with more than one of them.
Financial guidance officers are workers that handle all the little details that come with the field. To be good at their job it is necessary for them to be up to date with not only their client and their client’s goals, but also all the rules and regulations that would affect those goals. Having a good knowledge of the rolling market is key to determining the answer to tough choices. For example, if the market is taking a turn for the worst, it might not be the best time to expand or hire a bunch of new employees. Risk management is the most important factor for financial guidance officers to grasp. Investments need to be in a safe zone where the chance that something bad will happen is as close to zero as possible. Sometimes it can be a touch call which is why financial guidance officers need to be so well trained in their field.
A notable financial guidance officer who is still working in the field is Brian Bonar. After going to Staffordshire University and receiving his doctorate degree Bonar worked decades in the financial based careers. Right now he is an employee at the Dalrada Financial Corporation where he has held almost every position as he worked his way up to CEO, President, and Chairman of the Board.