We've all heard people claiming that they lost so and so amount by investing in XYZ's investment scheme or that ABC bank has too many hidden charges, clauses and penalties which defeats the very purpose of investment! We hear our friends cribbing about losing money but seldom think that we can be next, and as a result, don't prepare ourselves before investing.
Investment is one of the most important decisions of our life. It involves unlimited risk since we are investing the money we've earned by working hard for months and years. If at all the investment goes bad, we stand a risk of losing all the money. Bad investment occurs when people don't inquire about their financial planner well enough. Most often, it is these financial planners who misguide or hide vital aspects of the investment scheme making us suffer in the long run. Thus, it is utmost important to be sure about the financial adviser you're hiring.
Here are some quick tips that will help you zero down on the best investment adviser:
Do they possess the relevant degree? - Since India is fast becoming a developed economy, people have a lot of money to invest. Looking at the opportunity, everyone is becoming an investment adviser for making quick commission. However, make sure that your adviser possesses a degree in the field of investment.
Experience - Experience counts a lot when it comes to investments. People who've worked over the years know each and every policy like the back of their hand. They are able to provide you with every minute detail regarding all the schemes you ask. Being experienced, they must have surely worked on big as well as small investments and as a result, know where to invest money. If you want to know the returns on any of the plan, they'll quickly use their financial planning calculator and let you know.
Whom do they work for? - A lot of people are individual advisers i.e. not employed at any particular firm. They might be better advisers as compared to the ones who work for firms that offer investment schemes. The reason for the same is that advisers working for a particular firm might lure you into schemes and get your money invested just for the benefit of their firm and subsequently, their promotion.
What's their USP? - Since there's no dearth of financial consultants in the market, you'll need to find someone who has a USP which differentiates him from others. While some financial advisers pass on the first commission to you just to keep you happy, there are others who give free merchandise in order to keep a long lasting relationship. You need to see what USP your financial consultant possesses.
Investment is one of the most important decisions of our life. It involves unlimited risk since we are investing the money we've earned by working hard for months and years. If at all the investment goes bad, we stand a risk of losing all the money. Bad investment occurs when people don't inquire about their financial planner well enough. Most often, it is these financial planners who misguide or hide vital aspects of the investment scheme making us suffer in the long run. Thus, it is utmost important to be sure about the financial adviser you're hiring.
Here are some quick tips that will help you zero down on the best investment adviser:
Do they possess the relevant degree? - Since India is fast becoming a developed economy, people have a lot of money to invest. Looking at the opportunity, everyone is becoming an investment adviser for making quick commission. However, make sure that your adviser possesses a degree in the field of investment.
Experience - Experience counts a lot when it comes to investments. People who've worked over the years know each and every policy like the back of their hand. They are able to provide you with every minute detail regarding all the schemes you ask. Being experienced, they must have surely worked on big as well as small investments and as a result, know where to invest money. If you want to know the returns on any of the plan, they'll quickly use their financial planning calculator and let you know.
Whom do they work for? - A lot of people are individual advisers i.e. not employed at any particular firm. They might be better advisers as compared to the ones who work for firms that offer investment schemes. The reason for the same is that advisers working for a particular firm might lure you into schemes and get your money invested just for the benefit of their firm and subsequently, their promotion.
What's their USP? - Since there's no dearth of financial consultants in the market, you'll need to find someone who has a USP which differentiates him from others. While some financial advisers pass on the first commission to you just to keep you happy, there are others who give free merchandise in order to keep a long lasting relationship. You need to see what USP your financial consultant possesses.
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