Financial Advisor in India

How To Choose A Financial Advisor in India

Working with the best financial advisor in India is the best way to organize a business and establish long-term goals. They are not just for the wealthy. Mr Sanket Agrawal is an excellent certified financial planner in India, Plan your taxes, 

manage your taxes and money with him . These steps will help you find the best financial advisor for your needs.

1. Determine the area of your financial life that needs assistance.

Choose which areas of your financial life require assistance before you talk with a financial advisor. When you initially meet with an advisor, be ready to talk about your needs for money management.

Remember that the best financial advisor in India offers more services than just investing counsel. An excellent financial advisor will be capable to help you plan a course for all your financial needs. This can include recommendations for insurance products to protect you and your family, debt payback, financial advice for retirement plans, and estate preparation.

Your stage of life may mean that you don’t need to make extensive financial preparations. Individuals with relatively simple financial situations, such as young adults without dependents or major debt, may just require assistance with retirement planning.

Yet, those who have complicated financial needs might require further help. They can be trying to manage challenging debt payment scenarios, set up trusts or college funds for their kids, or resolve challenging Tax planning issues. Identify the services you need and use this information to guide your search because not all sorts of financial advisers provide the same variety of services. Take assistance from financial advisors near my services.


2. Read More About the Many best financial advisor in India Types

Those who may refer to themselves as financial advisor or offer financial advice is not subject to federal regulation. Although many people call themselves financial advisors, not all of them are looking out for your best interests. Because of this, you must thoroughly assess potential financial advisors to ensure that they are suitable for you and your financial situation.

Understanding fiduciary obligation is a key component of becoming familiar with the various sorts of advisors. People who identify themselves as advisors only recommend things that are suitable for you, even if they are expensive, and you pay them a commission.

 No matter what kind of advisor you select, you should make sure you understand how they are compensated. This enables you to decide whether their suggestions are better for you or better for their pockets.

Here’s how to consider the many categories of the best financial advisor in India:

Certified financial planner in India

The Financial Planning Standard Board (USA) has been certifying people who meet their rigorous standards for personal finance as CFP (certified financial planner India). When it comes to assisting people in managing their finances, this accreditation is widely recognized as the gold standard and is regarded as such on a global scale. On the FPSB database, you can look for the best financial counsellor in India.

Fee-Only Financial Advisors

The fees you pay for their services are how fee-only financial advisors make their money. These fees could be calculated as a flat amount, an hourly rate, or a percentage of the assets they are in charge of managing on your behalf.

Financial Advisors (Commissions)

Some financial counsellors are paid by third parties as sales commissions. Some of the sales commission-earning financial advisors may promote themselves as “free” financial advisors who don’t charge your assistance fee. Others might impose fees, which means that third-party commissions only make up a portion of their income. Fiduciaries do not include commission-only advisors.

Registered Investment Advisors

Fiduciary financial advice is offered by companies known as Registered Investment Advisors (RIAs). Investment Advisor Representatives (IARs) are employed by RIAs and are subject to fiduciary duty. One of the hundreds of IARs may be employed by an RIA.


Robo-advisors provide automated, inexpensive investing advice. Most focus on assisting clients with investing for mid- and long-term goals, such as retirement, using exchange-traded fund diversified pre-constructed portfolios.

3. Choose the Financial Advisory Services That You Want:

Financial advisors may provide any of the following services, albeit the specific services they provide vary from one advisor to the next:

  • Investment advice-The goal of financial advisors is to help you choose investments that are within your preferred degree of risk by researching various investment possibilities.
  • Debt management-Advisors of finance will assist you to develop a repayment strategy if you have outstanding debts, such as debt from credit cards, college loans, auto loans, or mortgages.
  • Budgeting Assistance– Experts in examining where your money goes after it leaves your pay check including financial advisors. Advisers can assist you in creating budgets so that you are ready to accomplish your financial objectives.
  • Insurance coverage-According to your financial condition, financial advisors will review your current policies to find any coverage gaps or suggest new types of policies, such as disability insurance or long-term care coverage.
  • Tax planning-Planning your taxes includes devising strategies to lower the amount of taxes you might owe, such as sizable charitable contributions or tax-loss harvesting. Keep in mind that tax planning is different from tax preparation and that not all financial planners have a thorough understanding of taxes. To submit your taxes, you’ll probably still need a certified financial planner in India or tax preparation software.
  • Retirement planning-Your ultimate long-term aim, retirement, can be funded with the assistance of financial experts. Then, once you have retired or are about to retire, they can ensure that you can protect your money.
  • Estate planning-Financial planners can assist you in transferring your wealth to the following generation, whether it be for family, friends, or charitable purposes if you want to leave a legacy.
  • College planning-Financial experts can create a plan to assist you to save money if you want to pay for loved ones’ higher education.

4. Determine your capacity to Pay your Financial Adviser

The best financial advisor in India used to get fees that were based on the assets they managed for you. Advisors today provide a wide range of fee arrangements, making their services available to customers with all different degrees of financial capability.

  • Although commission-only advisors may seem to be free on paper, they may get paid a percentage of the investments or purchases you make. These “free” financial counsellors are frequently accessible through brokerages that deal in investments or insurance. Keep in mind that these advisors might only be subject to appropriateness criteria, so their fees might end up being the same as what you would pay for a comparable financial product recommended by a fiduciary financial advisor—or even higher.
  • The total value of the assets you have committed to fee-only or fee-based financial advisors (assets under management) can serve as the basis for their fees. Instead, they may bill by the hour, by plan, by some kind of maintenance agreement, or via a monthly subscription.

 5. Financial Advisors for Research:

You need to properly research potential financial advisors because they come in a variety of shapes and sizes with a wide range of expertise and products. You should ensure that the person making your financial decisions is capable and reliable.

There are several methods for finding reputable financial consultants. Request recommendations from your peers, family, and friends. Instead, search online for financial advisors. Free financial advisor databases are offered by many professional financial planning affiliations:

Securities and Exchange Board of India

Be sure to look at an advisor’s qualifications in addition to their past and fee schedules while assessing them. Moreover, keep in mind that just because someone belongs to a financial planning association, it does not imply that they are a fiduciary financial planner.

Questions to Ask a Financial Advisor

Make sure you understand the answers to these questions at your initial consultation with the best financial advisor in India and that you feel at ease with their reply.

  • Are you a fiduciary? This question is important because it will help you determine if the advisor is legally required to act in your best interest.
  • Do you always behave in a fiduciary capacity? (Some fee-based advisors might not always act in a fiduciary capacity when promoting goods with a commission structure.)
  • What is your source of income?
  • What method do you use for financial planning?
  • What services for financial planning do you provide?
  • Whom do you typically work with as clients?
  • Do you have a minimum account balance?
  • Do you have any competing interests when it comes to managing my money?
  • What documentation must I provide so that you can review it when creating my financial plan?
  • How frequently and how many times will we meet?
  • Will you work with my other consultants, such as my CPAs or lawyers?

6. Types of advisors you ought to avoid :

Recommends Investments Without Risk Profiling

A solid foundation for a person’s financial strategy is provided by knowing the risk profile of the investor and choosing the appropriate asset allocation for their needs. The top financial advisor in India would not make advice without carrying out a thorough risk assessment, thus it is recommended to avoid them if they do. Three important factors should be assessed during your risk profiling procedure.

  • To determine how well you can take risks, we must first determine your income, your net worth, and the number of people that depend financially on you. This will clarify how well a person can manage their finances, support themselves, and support any dependents.
  • The ability to withstand volatility in assets that are tied to the market is necessary to determine a person’s risk tolerance. It’s important to understand how people make decisions about their finances, including how much they save, spend, and invest, as well as the factors that influence these choices.
  • The third is to comprehend the necessity of taking risks, where we recognize the required rate of return that an investor must get from investments to achieve his or her financial objectives. The need to accept risk would increase as the required rate of return to achieve objectives increased.

Offers Get Rich Quick Schemes

Wealth-building requires time. We take unwarranted risks because we have the desire to become wealthy soon. Individuals fall for tricks that promise investments would double or triple, only to lose all of their hard-earned money to con artists. It’s important to comprehend the power of compounding; if made regularly for 30 years at a rate of 10% per year, a simple monthly investment of 5,000 can grow to a corpus of 1 crore. Straightforward, disciplined investing is more crucial than seeking out higher returns.

Confuses you with difficult techniques.

The financial advisors near me and service providers won’t overwhelm you with complex strategies. Some investors are only content when the adviser regularly introduces fresh items and techniques. People desire to make investments in new instruments because they believe they are only available to them. Simple products like mutual funds and PPF, in their opinion, are not appropriate for them.


We at caonweb are aware of how important it is to choose the best financial planner. Because of this, we have developed a network that links you up with Indian financial planners that are certified. With the help of our platform, you locate the ideal certified financial planner in India who will fit your requirements and price range. Because we provide top ca firms near me in India.

Frequently Asked Question 

Q.) What services do financial advisors offer? 

Financial advisors offer a range of services, including investment planning, retirement planning, tax planning, estate planning, insurance planning, and more.

Q.) How do I find reliable financial advisors near me?

 You can find a reliable advisor by asking for referrals from friends or family, checking online reviews and ratings, researching their credentials and experience, and meeting with them to discuss their services and fees.

Q.) What qualifications should a financial advisor have?

 A financial advisor should have relevant certifications like Certified Financial Planner (CFP) or Chartered Financial Analyst (CFA). They should also have a good track record and experience in the field.

Q.) How do financial advisors charge their clients? 

Financial advisors can charge their clients in different ways, including a percentage of assets under management, an hourly fee or a flat fee for specific services, or commissions on products sold.


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