2022
April
NIKIT SHINGARI
The aftermath of the pandemic that started in 2019 still lingers on. The global economy went on a downward spiral, people were jobless with no source of income.
While this is good news, another issue slowly crept in, and that is the unstable global economy. Many countries didn't foresee problems like an increase in inflation and market competition and didn't prepare for them.
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Nikit Shingari, a professional Day and Swing trader, gives 16 challenges financial advisors and firms will encounter this year.
PROBLEMS FINANCIAL ADVISORS AND FIRMS ARE FACING
Retaining Workers: A company that is fortunate to have good workers with excellent work ethics is lucky. Such a company will always move forward because the workers work hard for the success of the company.
Increase in the Rate of Interests: The steady rise in the rate of interest in real estate is alarming. Real estate finance experts have said that the increase is something they've never sent before.
Regulations over the Use of Cryptocurrency: Cryptocurrency is not a new term for financial advisors and those in the finance industry.
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NIKIT
SHINGARI
Educating People About Cryptocurrency: Not everybody understands cryptocurrency, its uses, and its investment opportunities
Development of Trust
Lack of trust between a worker and a client leads to unsuccessful business cooperation.
Finance firms will face the problem of acquisition and funding.
FUNDING PROBLEM High-interest rates in the market lead to a lack of investors.
TAX REGULATIONS
Tax rules always undergo review because of those who try to evade tax payments. This means that firms must constantly adapt their business operations to accommodate the new rule. Furthermore, advisory firms are required to protect their customers from unfair tax payments.
Nikit Shingari has a final word of advice for financial advisors and firms; "Advisors and firms should not wait until these problems come before they take action. Otherwise, they will not be able to manage future risks that come with these problems."