Questions you should ask your financial planner!

  • How much experience do you have?  

    Financial planning involves understanding of investing behaviour, risk profile etc and the more the experience of the Financial Planner, the better. Hence experience should be a major driver behind your decision.           

  • What are your Qualifications?    

    A suitable qualification such as Certified Financial Planner and SEBI Registered Investment Adviser are desirable which indicates the Planner is serious of   his/her profession.   

         

  • Do you only plan or also sell?

    The planners who sell products may not provide unbiased advice.You should prefer a planner who is independent of product sales but does research on various products.

  • How do you conduct our portfolio reviews?

    The portfolio must be reviewed quarterly/half yearly/annually.You should prefer a planner who keeps in touch with you regularly.

  • How much do you charge?

    The Financial  Planner should be value for money.It is always preferable to go for right advice with fair compensation rather than low fees with biased recommendations.The planners may charge an upfront fee and/or  a percentage of your assets periodically or both.In case the planner also sells products,you should insist for disclosure on the commission earned by him/her.

    Reference:Mint Money 

Last modified on Wednesday, 10 February 2016 06:54

Prakash Praharaj

Shri Prakash Praharaj has a passion for excellence. He has been awarded two gold medals for securing top positions both in Graduation and Post Graduation in Commerce. He is an MBA with specialization in Finance and marketing. He has been awarded Diploma in Treasury, Investment and Risk Management besides CAIIB from the Indian Institute of Bankers. He is a Certified Financial PlannerCM from the Financial Planning standards Board, India (FPSB), affiliated to FPSB, Denver, USA and Certified Personal Financial Adviser from NISM. He is also a SEBI registered Investment Adviser vide Reg. no. INA 000000045 dated 2nd August 2013.His book "Your Every day guide to Personal Finance and Insurance" has been published by CNBC TV 18 in August 2015.

5 comments

  • Sujata Aniruddha Sapkal

    posted by Sujata Aniruddha Sapkal

    Thursday, 30 July 2015 09:39

    Financial advice is a very important aspect of our financial health and viability,a person whom we consult for managing our hard earned money should be competent,registered and unbiased then only he/she will be able to guide you properly on the basis of his knowledge.

    It is always advisable to take help of a certified professional in the field.

    Report
  • minecraft.net

    posted by minecraft.net

    Friday, 22 May 2015 23:45

    Good info. Lucky me I discovered your website by accident (stumbleupon).
    I've saved as a favorite for later!

    Report
  • basant

    posted by basant

    Thursday, 20 March 2014 08:51

    Very good and Useful article

    Report
  • sipra

    posted by sipra

    Thursday, 20 March 2014 08:50

    A good article for Women

    Report
  • Pratham K

    posted by Pratham K

    Friday, 28 February 2014 07:06

    Very informative & useful!

    Report

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