Fee only Service

What is Financial Planning?

Financial Planning is a process that helps you make informed decisions about money that can help you achieve your goals in life. Do remember that it is not the process of buying products like Life Insurance, Mutual Funds, FDs or Bonds.

TRUSTWORTHINESS is a BIG factor when it comes to money matters. Because nowadays you notice that world is filled with SELLERS in the name of advisers, bankers, planners etc.Hence, identifying the CONFLICT-FREE planner for you is the biggest task. Luckily due to recent SEBI RIA Regulations, now it is a reality for many of you to identify the Fee-Only Financial Planners who are registered with SEBI as Registered Investment Advisers.

Difference between Fee-Only

and Fee-Based Planners

Fee-Only Financial Planner

Let us understand the difference between Fee-Only Financial Planners and Fee-Based Financial Planners.
A Fee-Only Planner is someone who charges a fee for financial plan creation and advisory and does not receive any kind of commissions/incentives from mutual fund houses, insurers or other financial product sellers. Because he is in no way associated or represented by Mutual Fund Companies, Insurance Companies or any other form of the product. Hence, his only earning is from the fee he charges to his clients upfront.

Fee-Based financial planner

A Fee-Based Planner receives a fee for financial advisory and also receives commissions from fund houses and/insurers etc. for the products he/she recommends. The investment is done through the planner. Hence, there is always the possibility of CONFLICT of interest when you work with such fee-based planners.

final planning steps

Our Approach

1

Establish and Define financial planning process

During this process, I interact with you to know more about your current financial situation, past experience of investment and also the expectation from your end from a planner. Also, I discuss and define the fee structure and the time horizon it takes to complete the process.

2

Data Gathering 

Once you agreed for the service, then I will send you the datasheet, which you have to fill and send it to me back. This is the data gathering process. Make sure to share only finance-related data and also accurate.

3

Analyze and assess the financial status

Once you share the data with me, then me (the planner) and you must sit together to understand each data you shared with me. Because before I proceed with planning, I must understand what each financial data meant for you and how much important for further steps of financial planning.

4

Develop

After this process, you have to give me around 10-15 days of time to design and develop a financial plan for you. This is the mirror of your financial life. Hence, once I share this file to you, suggest to understand each wordings and steps mentioned there. You have to list down all your doubts for next meeting.

5

Implement the financial planning recommendation

During this process, we schedule a meeting to make sure I will clear all your doubts or questions with respect to the plan. Once you understood the whole concept of financial planning report, then the next step is to implement it. Implementation means rejig your current investments (if necessary) or start afresh investments.

As I already referred, we are not associated with any financial company to sell the products and earn the commission, the implementation part will be at your end. However, I suggest you the best way or implementing based on the products I recommended.

6

Review of Financial Condiction

Annual review and monitoring will ensure that you are on the correct path. Hence, it is an ongoing process of any financial planning process.

However, it does not mean we have to interact once in a year. We do the review on investments once in a year. But if you have certain questions or doubts with respect to your financial life, you can always approach me.
Revise the financial plan required sometimes due to changing circumstances in your lifestyle, family needs, employment and other external factors. Hence, such revision will also be part of financial planning process.

 

 

Approach in Fee-Only Financial Planning?

What involves in Fee-Only Financial Planning?

  • Assess your current Financial Life.
  • Review of your existing investments like Mutual Funds, FDs, Life Insurance.
  • Helping you to identify the financial goals of your life.
  • Creating a Financial Plan to achieve those financial goals. This also includes insurance needs analysis like Life, Health and other types of insurances (if necessary).
  • Helping you to implement the financial plan either by rejigging the current investments or by recommending the fresh investments.
  • Tax Planning but not ITR filing.

What you can’t expect from me?

  • I will not give you GUARANTEE on any products or assets which you will invest.
  • I will not suggest you direct stock investments as I am not authorized and also not an expert in that.
  • I will not advise you to churn your portfolio once in a week, month or quarterly. I follow the process of once in a year review.
  • I will not implement the plan on behalf of you. Because I am in no way associated with any company.
  • I will not suggest/recommend new and hot investment trends just because you are interested.
  • I will not suggest you to change in your portfolio just because there is a huge noise in social media.
  • I will not help you in filing IT Returns. However, while investing, I will guide you on the tax-efficient way of investment.

The fee of Financial Planning Service

We follow the fixed fee module rather than charging you based on % AUM.

For Resident Indians

  • First-year – Rs.10,000 to Rs.15,000 + GST @18% (based on the complication)
  • Second year onwards – Rs.5,000 to Rs.7,000 + GST @18% (based on the complication)

For Non-Resident Indians (NRI)

  • First-year – Rs.20,000 + GST @18%
  • Second year onwards – Rs.10,000 + GST @18%

Contact

Get In Touch

Distance is not a barrier to us in this current world of technology. Hence, I can work with the clients who stay in Bangalore, Mumbai, Chennai, Kolkotta, Delhi or in any part of India and world. Because now with the advancement of technology like Skype and Whatsapp audio and video calls, it is now easy to meet and fix a meeting online. You can reach me through various means as stated in footer.

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