Do you follow this check list while choosing a financial consultant delhi?

It is very human to dream about being a part of the best things in life, such as dining out at 5 star restaurants, relaxing at classy lounges, travelling in a swanky vehicle, making foreign trips a couple of times every year, and owning a huge mansion.

Well, you need money for all this, and looking at the way you are struggling to put anything in your savings account at the end of each month, all this seems unlikely! What you need to achieve this dream is to hire a financial consultant who can not only help you out with your day to day budgeting, but also in setting financial goals that will help you to accumulate a lot of money over the coming few years.

Once you have the kind of money that is sufficient for your needs, you can gloat in the bliss of a happy life. But for that, you first need to hire a trusted financial consultant delhi. Looking at the scams and frauds happening in the market in the name of financial advisory services, it seems risky to hire any financial advisor without proper guidance. That’s why we have a small but efficient check list for you. Always carry this along when you are looking out for a financial advisor because this is what will help you to choose a good advisor.

§  Does the advisor abide by the fiduciary? – Fiduciary is a code of trust held between a financial advisor and his/her client. Every qualified financial advisor has to swear by the fiduciary wherein he affirms that he will work only in the best interests of his customers, and in case there is any conflict arising in any investment, he will inform the client. Be sure that you ask your financial advisor whether he abides by the fiduciary.

§  How will they charge? – Ask your financial consultant Mumbai regarding his remuneration clearly. Don’t entertain any consultant who cannot reply in a definite manner. There are two usual ways to get remunerated – the first one being commission, and the second one being fees. A fees is usually paid on a monthly basis, whereas commission might need to be paid on every transaction that the consultant advices you upon.

§  What is the educational qualification? – Educational qualification is an all important criterion while choosing financial consultants Mumbai. These days, serious advisors and consultants are pursuing post graduate diplomas and master level degrees in the field of finance so as to specialize in a particular niche. Specializing in a particular niche makes them experts in that field such as investment analysis, tax planning, retirement planning etc. The educational qualification might help you to choose a financial advisor who is ideal for your financial goals.

§  Is he a part of any institution? – There are two major bodies governing financial advisors in India, namely the Foundation of Independent Financial Advisors, and Financial Advisors Association of India. There are a few smaller bodies as well. They keep a track of everyone registered with them, so ensure that your financial advisor is a part.

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Created on Dec 31st 1969 18:00. Viewed 0 times.

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