This is from experience – the advantage of meeting 5000+ people is enumerated here
1. Have a realistic expectation from the financial planner (see yesterdays post)
2. Know what to expect from a planner
3. If you do not have your data in an organized manner, the planner is not likely to spend time organizing it [...]
February 17th, 2010 | Posted in Uncategorized, financial education, financial planner | 3 Comments
Or Why you do not need an investment consultant !
If you need bypass surgery, you should find the most qualified surgeon available. If you’re getting sued, you should hire the best defense lawyer in town.These 2 are fairly obvious and I do not think you can do your own root canal surgery, brain surgery or [...]
February 7th, 2010 | Posted in financial planner | No Comments
What will the IFA (Independent Financial Adviser) do now that the entry load has been abolished? They will sell life insurance till 2011. Once that also becomes fee based he will not know what to do. Correct? Well yes and no.
IFAs are perhaps the most agile persons in the whole chain of getting the mutual [...]
November 27th, 2009 | Posted in Mutual funds | No Comments
Financial inclusion, Financial Advisory, Financial planning, Financial planner, Financial literacy….vow these are the catch words today is it not? And all the financial product manufacturers, bankers, websites, etc. are now getting into all of these in some form or the other. It is politically a great sales pitch. However it reminds me of an English [...]
November 3rd, 2009 | Posted in Financial Advisor, Personal Finance, financial education | 3 Comments
Are you in Denial mode regarding your retirement financial needs?
I cannot comment for every one, but too many people I meet are in denial about their financial needs for retirement. Most of us do not want to accept that we will buy 3-4 washing machines, air conditioners, refrigerators, maybe about 2-5 cars, at least one [...]
October 25th, 2009 | Posted in Retirement Planning, budgeting | 5 Comments
Media loves to bash the financial advisors. The main accusations about FAs are – they sell products which the clients do not need, they sell products which have the highest commissions, they do not know all that they should know….etc.
Let me now bat for the FA. A good FA should be well qualified (let us [...]
October 11th, 2009 | Posted in Financial Advisor | 11 Comments
In all my financial interactions – be it planning for clients, training, teaching or writing, people have come to me with some problem which they think is unique. In all the financial problems, I am able to find a pattern. Believe it or nor, people more often than not choose the problem by their behavior. [...]
October 10th, 2009 | Posted in Uncategorized, financial education | 4 Comments
Or Why you do not need an investment consultant or an Investment Advisor !
If you need bypass surgery, you should find the most qualified surgeon available.This need not be the most expensive surgeon. Some surgeons are better at PR so they command a higher price. Some surgeons are good but in smaller hospitals. You need [...]
October 7th, 2009 | Posted in Financial Advisor, Personal Finance, Uncategorized | 4 Comments
Darren Gough and IPL – yes you can see some connection, but can you see the connection between Darren Gough and Financial planning? Well neither could I…but here is the connection. Telegraph , UK did an interview regarding Darren’s financial habits – and it was interesting. Nothing flamboyant. His best investment he says – is [...]
July 24th, 2009 | Posted in Uncategorized | No Comments
In one of those financial planning classes somebody asked me this question. It is quite an easy question to answer, but a difficult answer to understand.
For different people it means different things. If you wish to own a Mercedes having a spare Rs. 80 lakhs to buy and Rs. 50,000 per month to spend on [...]
July 8th, 2009 | Posted in Personal Finance, financial education | 1 Comment