Best Financial Planners in India

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In India, financial advice firms have gained a massive response in recent years. This area continues to mature, and the financial advisors are always working hard and better to achieve clients’ financial objectives.  People search for a financial planner in a way like they search for a doctor because they would prefer not to confront any sort of capitalist crisis.

Fee-only Financial Planner

A fee-only financial planner is a registered advisor who has the authority to give advice on finance to his clients. They earn compensation for their services only and help clients in making informed decisions on money. They have a fiduciary duty always to help you in finance-related issues. The sole purpose of the fee is only financial advisors not to convince clients to purchase products and services but to help them in achieving financial goals.

Role of the Financial Planner

A financial planner is a well-educated and experienced investment & financial advisor who helps individuals and corporates to achieve short term and long term financial goals within the expected time. They create a balanced plan and request individuals and corporate businesses to follow sincerely to get stability in the market.

The role of financial planners in India varies from clients’ objectives to objectives. Below we have mentioned the most common roles of certified financial planners –

  • Financial Coach: They keep eyes on the individual’s financial objectives and guide them to make their personal finance stable.
  • Financial Doctor: They understand and analyze the individual’s financial crises, make an effective financial plan, and instruct them to avoid investment mistakes.
  • Financial Instructor: They educate individuals to achieve their financial goals in the right way—they also aware individuals about wealth management and the importance of assets.
  • Financial caregiver: To help individuals at every stage of life. Whether it is millennials’ financial planning or retirement planning, they give advice and remind you to follow in the right way.
  • Financial Nutritionist: They strengthen the individuals’ finances by growing the value of their assets.

Types of Financial Planner

There are several types of financial planners in India are available in the market. Every financial planner’s roles and job responsibilities are different. Below we have mentioned the most common types of a financial planner.

  1. Investment Advisor: An investment advisor is a financial planner who advises individuals and companies on securities like (shares, stocks, bitcoins, mutual funds, commodities, and cryptocurrencies. These financial planners help individuals in building assets.
  2. Certified financial planner: The certified financial planner job to analyze the investment portfolio of the investors and also offer advice on personal financial status and helps you in making smarter financial decisions.
  3. Accountant: Accountants offer you advice on tax matters and also helps you in filing the tax returns on time. Many firms hire independent accountants advisory firms to prepare and submit tax returns.
  4. Attorney: You may be thinking that the attorney is the one who sits in the courtroom and works hard to give justice to his client. But their work is more than that; they give you advice on buy/sell home, write or update a will, divorce settlement and so forth.
  5. Insurance agent: Insurance agents are also financial planners. They give you advice on which insurance plans suit your needs and affordability. And also recommends the best insurance company’s name, which gives you a better return of the investment at a maturity period.
  6. Debt counselor: Debt counselors are much needed financial planners who help individuals in bringing out from the hole of debt. They manage your money, give you the right advice on savings and spending, and also help you in dealing with debt when everything goes out of control.

How to choose the best financial planner

  1. Always choose the certified financial planner who has gained great credibility in the market.
  2. A financial planner must be licensed, experienced, and know every aspect of financial planning.
  3. Look for the financial person who acts as a fiduciary because a fee-only financial planner is the only one that gives you genuine advice on personal financial planning and resolves your financial crises.
  4. Choose the financial advisor who helps you remain sincere and disciplined about your financial plans.
  5. Before hiring a financial planner, it is advisable to read his reviews online. Some clients share their real experience on the review platforms.

My List of Popular and best financial planners in India

What happens if your doctor prescribes a drug that ruins your health only to gain commission on selling drugs. What if your financial advisor is doing the same? Scare you! That’s why it is always advisable to opt for the financial planner which has a great reputation in the market and achieved 100% of clients’ satisfaction.

Below we have mentioned the list of four top reliable, experienced and trustworthy fee-only personal financial planners in India-

Abhishek Kumar – SahajMoney.com

  • Is he a Fee-only Advisor? : YES
  • Type of his firm: Practicing as an individual RIA.
  • Firm Registration: SEBI
  • Year of Starting his firm: 2017
  • Brief Profile: Abhishek Kumar is one of the trustworthy fee-only financial planners in India. Who Pursued an MBA from the Indian Institute of Management. His clients’ feedback and reviews are the biggest referral program for him because the level of professionalism they have gotten in the work of Abhishek Kumar is remarkable. The sole purpose of Abhishek Kumar is to work towards simplifying the investment journey of the clients and help them to remain disciplined about their financial goals.
  • Brief about his firm: He started his financial planner career by advising friends and family for almost 10 years. And for 2017, he started a firm Shajmoney, which deals with personal financial planning services. Over the past few years, this firm has gained huge credibility in the market by simplifying the investment needs of individuals and corporate businesses. His company also provides comprehensive FP services. When you get in touch with his firm, you will get the entire gamut of investment planning services like insurance claim processing, portfolio management, wealth management, estate consultancy, NRI taxation matters, and so forth.
  • Number of FP clients: 100+
  • What is the mode of service (Online/Offline)? : ONLINE
  • Types of services offered: Investment advisory services across the spectrum.
  • Do they receive commission from financial products: NO
  • Website/Blog: www.sahajmoney.com

Gursimran Singh – ParamAsa Wealth Advisory

  • Is he a Fee-only Advisor?: Yes
  • Type of your firm: Individual.
  • Firm registration: SEBI
  • Year of Firm Starting: 2018
  • Brief Profile: Another renowned and reputed fee-only financial planner in India is Gusimran Singh. Sharing knowledge of personal financial planning and advising people on managing money is the childhood passion of Gursimran Singh. You won’t believe it; he started investing in the market at the age of 14. He has a total of 20 years of experience in financial advising. He offers comprehensive financial planning in which everything is covered related to finance like insurance claim processing, portfolio management, wealth management, estate consultancy, NRI taxation matters, and so forth.
  • Brief about his firm: Currently, Gursimran Singh is running a boutique firm, in which all the financial decisions are taken, and strategies are planned by Gurismran Singh. Clients can get financial advice via offline and online modes. Writing articles and blogs on personal financial planning is also part of his job. He has written hundreds of articles on fee-only advisory. His financial planning services are customized and personalized for the clients. The passion to serve the right advice and tips on personal finance is the core job of Gurusimaran Singh and his firm.
  • What is the mode of service (Online/Offline)? : Both Online & Offline
  • Types of services offered: Comprehensive financial Planning for Both Resident Indians and NRI
  • Do they receive commission from financial products: No
  • Website/Blog: http://paramasa.com/

Deepesh Raghaw – PersonalFinancePlan.in

  • Is he a Fee-only Advisor?: Yes
  • Type of your firm: Individual
  • Firm registration: SEBI (Individual)
  • Year of Firm Starting: 2015
  • Brief Profile: Deepesh Raghaw is an experienced and trustworthy SEBI registered one of the best financial planners in India. He has done MBA from IIM Lucknow and also cleared three levels of Chartered Financial Analyst. Deepesh is not only good in financial advising, but he also has a great knowledge of software and banking. Here he advises individuals and corporate businesses remotely and online on personal financial planning. Deepesh started his financial planning business by advising his friends, family, and colleagues.
  • Firm Brief: After quitting a private bank job Deepesh Raghaw started PersonalFinancePlan. To improve financial literacy in India, he spread information about the importance of personal financial planning through his blogs. Many of them are also published on renowned platforms like CNBC.  He has had the immense pleasure of helping individuals and businesses in achieving their financial goals within the expected time. If you search the most reliable financial advisor near me, you will surely get the name of Deepesh Raghaw in the search engine result.
  • Number of FP clients: 80+
  • What is the mode of service (Online/Offline)? : Both
  • Types of services offered: Personal Finance services across the spectrum.
  • Do they receive commission from financial products: No
  • Website/Blog: www.PersonalFinancePlan.in

Soubhagya Kumar – Succinct FP

  • Is he a Fee-only Advisor?: Yes
  • Type of your firm: Pvt Ltd
  • Firm registration: SEBI
  • Year of Firm Starting: 2011
  • Brief Profile: Last but not least. Soubhagya Kumar Sharma is one of the most trustworthy and reliable fee-only financial planners in India. He started his advisory services in July 2011, intending to help individuals and businesses in achieving financial goals. The major finance areas where he mostly works are comprehensive FB, taxes, investment planning, and NRI services. He offers both online and offline advising services. He provides every kind of tax service like IT returns filing, salaried, business and profession, and partnership. You can officially connect to him by simply click on this site www.succinctfp.com. Before becoming a fee pay only planner, he worked in many wealth management and insurance companies to gain experience and know-how these companies work.
  • Firm Brief: After gaining experience and knowledge of the finance field, Soubhagya Kumar started his own financial advising business. The clients and their satisfaction are the strength of Soubhagya Kumar, and he always tries hard and works better to improve his strengths. If you are actively looking for the fee pay only planners in India who offer your comprehensive financial planning services, then feel free to contact Soubhagya Kumar.
  • Number of FP clients: Undisclosed
  • What is the mode of service (Online/Offline)? : Both
  • Types of services offered: Comprehensive FP, Investment Advisory & simple to complex tax matters
  • Do they receive commission from financial products: No
  • Website/Blog: www.succinctfp.com

Questions to be asked before hiring a financial advisor

If you want the right advice from the right financial advisor then questions to a financial planner that we have mentioned below-

Q.1 What qualifies you to be a financial advisor?
A.
 The very first question you have to ask your financial advisor near me is his qualification. If he graduates from the renowned university of India or he has done some certified financial planning courses of the NSE and BSE, then you can consider him as your financial planner. But, if he just started his career by blogging or selling financial products, then avoid him.

Q.2 Do you have relevant experience?
A.
 Experience matters the most. Only an experienced financial planner can help you in making smart investment decisions because he knows how the market works and remains disciplined about the financial plan. The reason why we prefer you to choose an experienced financial planner over a newbie is that he is expertise in wealth management and always suggests to you the financial plan that suits your financial objectives. So, if you are actively looking for a certified financial planner, then you should opt for the financial planner who has relevant experience in your query.

Q.3 Can you give references from your current clients?
A.
There are plenty of financial advisors in the market who are running their firms to sell financial products or bluff people. In order to protect your capital from these fraudsters, you should get some references from his current clients. If he is able to give your reference instantly, then he must be a genuine and reliable financial planner. In case if he refuses to provide you with reference, then stay out of him.

Q4 Will, you draw up a service agreement?
A.
Asking to draw up a service agreement gives you surety that a financial planner will always be there for you until you achieve your financial goals. That’s why it is important to draw up a service agreement before hiring a financial advisor near me.

Q.5 Will the advice be given in writing?
A.
Many financial advisors give their recording on advising via emails or notes to their clients. So that the clients can read whenever they want, just for an as surety before hiring a financial advisor, ask him will he provide advice in writing or not.

Q.6 Is my fee your only source of income?
A.
Though it is a very offensive or awkward question to ask. But, many financial planners earn a commission from selling third financial products to their clients. Whether the product matches your financial objectives or not, they just convince you to purchase it. But if you hire a fee pay only financial advisor, then he only earns from your fee.

Q.7 Do you get the commissions for the product you sell?
A. If he says yes, then never hire him for financial planning. Because just to earn a commission, he will recommend the worst financial products that can even ruin your financial health as well.

You May Also Like to Read: List Of Personal Finance Blog in India

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