The Advice Of Professional Financial Advisors Is Worth The Money We Pay To Them

Financial advisors have a fiduciary duty to their clients. This means that these finance professionals must act solely in the best interests of their clients. This is only possible under a fee only arrangement where the money is paid directly. It is also understood that professional, objective financial advice is available to everybody and not conditioned upon net worth, income or assets. With hourly fees, you pay for what you need and nothing more. There are no minimum fees and no income or net worth requirements. And finally, I believe that many of us can and want to manage our own finances but with periodic, professional coaching. This need for coaching varies over time as our life circumstances change and assets grow. The hourly, fee only arrangement is uniquely suited to meet this need.

Most of the leading wealth management Delhi are committed to providing independent, objective advice to people from all walks of life. Through the advantages of competent, professional planning, they seek to empower their clients to make the best financial decisions possible. For example, nowadays, full financial assessment is quite a popular service and economical service too. It is especially suitable for those in mid-career or approaching retirement providing with a road map to financial success. The assessment may include but is not limited to net worth analysis; cash flow; investments; retirement readiness; insurance needs; education funding; social security strategies; tax minimization; and estate planning strategies. Now, not everyone needs a full financial assessment. That is why the professional financial service providers unbundle their services to meet the specific needs and budget of clients. Their investment portfolio review includes asset allocation; diversification; tax strategies; and cost analysis. Their pre-retirement planning consists of savings evaluation; account choices; and goal setting. The retirement income planning includes retirement readiness; social security strategies; withdrawal strategies; goal setting; social security strategies; timing; file and suspend; spousal benefits; and benefit maximization etc. Financial plan reviews may be added as requested for an additional cost.

While we are discussing about finances and investments, let me also talk about SIP investments, recommend to me by my certified financial planner. SIP is the most normal investment mode of purchasing MF. This makes logical sense from 2 aspects, firstly, you are unlikely to have a supply of money frequently that will allow you to make a large one time purchase and secondly, it is a good practice to spread your purchases over a period of time to take advantage of varying purchase prices as a way or lowering risks.