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3 ways you can tell a good financial consultant mumbai from the bad! By advisorindia on January 13, 2014 Like

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People say that it is extremely important to know what to do with your money. But I’d go to the extent of saying, it is also important to know what NOT to do with your money! If you are not aware about the list of things that you should avoid while investing money, you can lose out a lot of hard earned money. That’s why we often hear about people who advice everyone against certain companies because their investments have gone awry. One of the most important things that you should avoid is a bad financial consultant Mumbai. One of the main reasons why people choose financial advisors today is due to the lack of time. One doesn’t have enough time to assess every financial scheme, and then do all the necessary paperwork associated with the same. That’s why financial consultants Delhi have become a necessity. Since you need to hire a financial advisor if you want to grow your money, you might end up with the wrong one. Here are our expert tips on how you can differentiate a good financial advisor from a bad one!Does he possess a degree?Financial advisors/consultants must possess a certification that states that they have cleared some sort of financial examination such as CFA, CA, CFP or CPA. If a so called ‘financial advisor’ isn’t qualified, then it is best to avoid them. This is because there are various ‘brokers’ in the market. They pose as financial advisors, but in reality, they are mere agents of financial corporations and talk you into buying financial products and services. What is the mode of compensation?

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Never hesitate to ask a financial advisor about his mode of compensation. At times, we think that the advisor will charge a reasonable amount, and at other times, the advisor is someone that’s recommended to us by a friend or a colleague and that’s why we shy away from talking about money matters. But what you are going to do is strictly money related, so it is better to clear all doubts by asking the mode of compensation. And if the compensation is based on the commission method, then ensure that the rate of compensation is fixed. Avoid any financial advisor that fails to specify a fixed percentage of commission! Is he trustworthy? Well, it is really difficult to determine the trustworthiness of a financial planner by meeting them just once. The only way to do this perhaps is by contacting their present clients. A really good thing about the human nature is that they are constantly looking out for outlets to pour their

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displeasure! In case the financial advisor’s present clients are dissatisfied with his/her service, they won’t hesitate in letting you know. Additionally, you can check their rating with the agency governing any financial consultant Delhi. The websites of these agencies often carry a rating and a score. And if that doesn’t work, run a Google search with their name! Any bad reports will automatically show up!

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3 ways you can tell a good financial consultant mumbai from the bad!  

That’s why we often hear about people who advice everyone against certain companies because their investments have gone awry. One of the mos...

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