Financial Planning

I am a fee-only financial planner who charges a fixed fee for financial planning services. I do not receive any commissions or other income from the products recommended and hence the advice provided is independent, unbiased, conflict-free and always in the best interest of Client.

1. After a prospect approaches me, we have a preliminary no-obligation consultation call to understand his/her requirement.
2. Once the prospect agrees to come on board, I mail him/her a Letter of Engagement containing the terms and conditions of the agreement.
3. After the LoE is signed by both the Client and me, I send bank details for an initial payment of 50 percent of the financial planning fees.
4. I then mail the data collection sheet and risk profiler to be filled up by the Client. In case, I need more information, I reach out to the Client.
5. Once I have all the necessary information, I start work on the financial plan. It takes maximum 3 working weeks to prepare a detailed plan including the synopsis.
6. I then present the plan to the Client with a detailed discussion. Any changes proposed by the Client or any new update/information shared are incorporated into the plan.
7. Once the Client and I are on the same page about the final plan, I charge the remaining plan fees.
8. I then provide guidance on the plan implementation and encourage the Client to finish the implementation part within maximum 3 months.

With digital communication tools available today, I have audio/video conversations with prospects and clients based at any location. Besides India, I have worked with clients based in Dubai and Bahrain. I ensure that the clients irrespective of the location have a smooth experience and gain similar financial clarity and coaching as in a personal meeting. Distance truly is not a barrier to connect.

It is a myth that financial planning is only for the rich or high networth individuals (HNIs). In fact, it is for all those who systematically want to achieve their financial goals and are genuinely committed to bring a positive change in their financial lives. I charge a flat reasonable fee for the financial plan prepared. The fees depend upon the complexity of your financial situation and needs and the effort required to work out the plan. This is irrespective of the financial assets you own. Clients with whom I have worked with so far include:

• Married couples with kids/no kids
• Young and working who just started their career
• Self-employed with no sustainable income
• Single Women who do not intend to marry
• Married & working women/mothers who wish to quit their corporate job but stay financially independent
• Women who have separated after marriage
• Financially savvy DIYers (Yes, they need a second opinion and validation!)

As your financial situation constantly undergoes change, it warrants a review. An increase in income, change in financial goals, change in asset allocation, taking new loans, marriage, childbirth, death in the family, the addition of new property, etc., all of such situations have an impact on your financial plan. It is thus prudent to review your financial plan once a year. Further, I ensure that the progress of your most essential goals is on track. Any goal nearing completion is taken care of with a diligent investment exit strategy to ensure that you have the money on hand at the right time. Over time, this goal-oriented mindset will evolve and encourage you to stay disciplined and focused on your goals irrespective of the state of the markets.

As a fiduciary, I treat my Client’s data – both quantitative and qualitative data with utmost confidentiality and do not share it with any third party. I also ensure that the final plan files are password protected. The data on my devices are also secured with appropriate back-ups.

While I encourage Clients to have a holistic financial plan in place, I also offer standalone investment advisory services to them. Again here, I charge a reasonable fixed fee depending upon the complexity of the investment portfolio.

Can you keep your emotions aside while managing your own money? Are you gripped by fear and panic during market downturns? Do you have any biases towards a particular asset class or a stock? Do you have adequate time to research? Are you influenced by social media in taking your financial decisions?  Do you understand the difference between an investment plan and a financial plan? If you are not sure about these answers, then it is prudent that you take a second opinion. Think of this like hiring a financial coach, not just an adviser. You will receive the validation whether you are on the right financial track.

SEBI Investment Adviser Regulations have come into being since 2013. These regulations clearly state that a Registered Investment Adviser (RIA) cannot earn commissions through sale of financial products which are regulated by SEBI. An intermediary/agent/distributor can earn commissions through sale of financial products but cannot provide financial planning advice and call himself Adviser. 

SEBI has thus set a clear demarcation between providing competent investment advice incl. financial planning and selling financial products. RIAs have a fiduciary responsibility towards their clients which implies they need to put their client’s interests first ahead of their own. They need to meet higher education standards incl. post-graduation, an appropriate certification on financial planning, and a minimum of five years’ experience in the financial advisory profession. They need to follow a stringent code of conduct to maintain accountability, transparency in their dealings, and confidentiality of clients’ data. Such high standards of education, experience, and code of conduct ensure that clients receive competent, professional advice on their finances while dealing with a SEBI registered adviser.