How do I choose my Financial advisor ? Any tips

POSTED BY charuprasanna ON March 28, 2014 1:23 pm COMMENTS (10)

1. What is your opinion on getting a financial advisor  who could interact with you online and telephone only? Or is it most effective with atleast one personal interaction?

2. What important points/factors you looked at before choosing your advisor? ( I am looking at their qualification, if they are fee only, registered, number of years in service, fees, post support, any online tools provided to track the status, any negative online reviews, etc.,)

3.  Any personal experiences that would help to not end up with a wrong advisor?

10 replies on this article “How do I choose my Financial advisor ? Any tips”

  1. charuprasanna says:

    Ashal, yes, I am. Thanks. That is the only reason I often visit jagoinvestor and similar websites.

  2. ashalanshu says:

    Dear Charu, this discussion does not mean that you stop educating yourself. Please keep increasing your own knowledge.

    Thanks

    Ashal

  3. charuprasanna says:

    Ashal, Thanks for forwarding. Nandish contacted me.

    Vinma, thanks for the feedback.

    Manish, I am trying to pick the best suit for my requirement out of the good ones 🙂 That is the reason I filled up the form in Jagoinvestor for paid services. All the discussions and forums are definitely throwing good insight over the topics. Thanks!

    Inder, Yes, I am not expecting a magic. But being new to investment now, I need experts opinion and validate my choices in investments. The problem is all of them start about any product and mutual discussions start only after we pay. I wanted to be assured before I pay. Also if hadn’t raised a question in this forum, I would have ended up with a wrong advisor whom I had zeroed in due to various reasons. Thanks to the forum and all the ones who commented.

  4. Inder says:

    Dear Charu,

    No Financial Planner/Advisor is a magician or can forecast future.

    As is clear from the articles (links) & above replies to your query, its clear that you need to act on your instincts in judging who is right & who is wrong, as is in our daily – after all life F.A. are also humans.

    A good F.A. should be able to :

    1) Explain the product he deals in.
    2) Answer all your queries.
    3) Satisfy you with facts/written material form company sources rather than by his verbal skills.
    4) Explain benefits/future return with written proofs from company & not personally written on a plain paper.

    Rest is your judgement that you find him/her to be trustworthy or not.

    Inder Pal

  5. ashalanshu says:

    Dear Charu, this only Manish can answer. For your information, I’m not part of Manish’s team for paid financial planning services. 🙂

    You need to contact on your own for paid services from Manish. As a token of help, I’m forwarding your request to Manish personally.

    Thanks

    Ashal

  6. charuprasanna says:

    Vinman, I did go through the link before and also the comments. Thanks for the same. Ashal, Thanks. That helps. How much is the turnaround time from Manish’s team after online inquiry? more than 24hrs?

    1. Hi Charuprasanna

      You can view this link – http://www.jagoinvestor.com/services

      You should evaluate your options, if you are comfortable with other planners, better go with them, we are not the only option, but we are good option 🙂

      Even Ashal provides professional help, i suggest look at that option also for yourself depending on your comfort level

      Manish

    2. VinManHBK007 says:

      Dear Charu,
      I have been a participanting in various modules offered by Jago Investor and have personally interacted over emails, facebook posts with both Manish and Nandish. They did live upto my expectations and for sure launched me into a journey towards financial freedom.
      The above opinion is purely individual and does not have any affiliation towards them.

      On a lighter note, turnaround time of 24 hours is nothing whenver you are looking into a horizon of time much ahead which is greater than 24 years 😉 . Not everywhere in life SLA’s work but yes i have seen responses from them within minutes to within 24 hours. It all depends on which on your ‘open’ mind and how much ready it is to absorb.

      TO reiterate the above i would like mention my learning from a Investor’s Bootcamp organised by Manish & Nandish on facebook (which is a closed group)…
      ” Many camps/seminars/off-site events came and went ….rarely did i see a change in myself as an individual. Thanks to the PROCRASTINATION audio clip, it just shook me up. We might have had events/experiences in our lives which made us ‘Men’ from being ‘Boys’…..I would like to rate this BootCamp as the ‘One’. If personal finance is a religion then i we need to have our Vedas, Geetas & Upanishads (3 books sent to us) in the back of our minds. I am now a Real Investor than being just a reader or passive on-looker. I am in the game now. I am a Player ! Thanks to our Mentors Nandish Desai & Manish Chauhan.”

  7. ashalanshu says:

    Dear Charu, let me try to answer your queries.

    1. What is your opinion on getting a financial advisor who could interact with you online and telephone only? Or is it most effective with atleast one personal interaction?
    Dear Manish and dear Nandish (owner/promoter of jagoinvestor) are doing the paid planning business pure online and through telephone. So it’s about your personal comfort that what is good for you.

    2. What important points/factors you looked at before choosing your advisor? ( I am looking at their qualification, if they are fee only, registered, number of years in service, fees, post support, any online tools provided to track the status, any negative online reviews, etc.,)
    Qualificagtion – For your information, Me (Ashal), Manish, Pattu (Freefincal), all are from non financial background and with out any financial qualification. So you have to make a call here again. Yes, the advisor/planner should be fee only one to avoid any conflict of interest. You have to search online for any negative review for the chosen planner.

    3. Any personal experiences that would help to not end up with a wrong advisor?
    One important point, advisor should not force to buy product with him/her. You should ask for each and every suggestion, why it’s offered? What’s the reason. Try to understand the thing. In case after multiple discussions, your feeling is that the solution is complicated, say NO. Only time ‘ll tell that the advisor was right or wrong. 🙂

    Thanks

    Ashal

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