Financial Planning is a very noble profession. I rate financial planning profession on par with other sacred professions like medicine and teaching.
The main responsibilities of a financial planner are to improve his/her clients’ financial health and also to wipe out financial illiteracy. Hence, I always believed that a financial planners’ work is as noble as doctors or teachers.
So, finding a competent and ethical financial planner is very important and can be a challenging task. You need to engage with a financial planner who acts in their clients’ best interests.
There are two broad categories of financial advisers/ financial planners as below;
Product sellers (advice can be ancillary or incidental to business) – They generally do not charge any fee from their clients but receive commissions form financial services providers.
For example ; Mutual fund distributors, insurance agents and banks fall in this category.
Pure Advisors : They charge only for the advice offered and do not accept/receive any commissions from financial service/product providers. SEBI Registered Investment Advisers fall in such categories.
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As per SEBI Investment Advisers Regulations – 2013, the SEBI registered IAs are prohibited from accepting any commissions. They can only charge fee to their clients.
Who is a Fee-only Financial Planner? – A planner who charges a flat fee to his/her client is a fee-only financial planner. He/she does not get commission from any other sources. The fee is not linked to the assets being managed. Hence, it makes sense to opt for a fee-only financial planner.
If you are a DIY investor (Do It Yourself), you wish to create a financial plan and manage your finances all by yourself. In case, you would like someone else to assist you to manage your personal finances then you can entrust your personal finance matters to a fee-only planner.
I have been maintaining a list of popular fee-only financial planners (but I am not associated with them) whom I believe are very talented, honest and follow good business ethics. I have been following their work closely & interacting with them for the last many months and I can confidently say that these individuals are some of the best financial planners (FEE ONLY) that you will come across in India.
I had already published three articles on ‘popular fee-only Financial Planners in India’. Suggest you to kindly go through the below links..
My List of popular Fee-only Financial Planners Part-1
My List of Top Fee-only Financial Planners in India Part-2
Popular Fee-only Financial Planners in India (Part-3)
Let me now present ‘my new list of top fee-only financial planners (Part-4)‘. Kindly note that this is definitely not a comprehensive list and is just based on my personal observations and interactions (directly / indirectly) with them.
It’s just that I am fortunate enough to know about these financial planners and have been learning a lot from them. I am sure there are many more such popular & best financial planners who are equally talented (if not more) that I am not in touch or may be not aware of (personally)..
Let’s learn more about them in their own words. Below are their responses to the questionnaire that I have requested them to complete.
My List of Top Fee-only Financial Planners in India
Below is my latest list of popular fee-only Personal Financial Planners in India ;
Shashi Singh of Finmyn.com
S R Srinivasan of SriNivesh Advisors (Srinivesh.in)
Sriram Jayaraman of Arthagyan.com
Upasana Mondal of Dreamblueprintz.com
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