what is the REAL VALUE of a good advisor?
I have never been able to say what is a fee that a planner should charge?
there are people who should be charged Rs. 10,000 a year and some people who should be charged Rs. 10,00,000. This should NOT depend on the time spent, it should be based on:
a. have i been able to teach the client what is a toxic product?
b. have I been able to keep the client away from toxic product sellers selling through an education seminar?
c. have I developed enough guts in the client to rip a ‘coated booted’ guy / female to pieces if they were to offer a toxic product?
d. does the client turn to ME for asking for any clarification regarding any product, daughter’s education, career move, writing a will, – which means there is respect and expectation of value advise…
e. almost impossible to list what the value add by an agent / IFA…
what price should Suchitra Krishnamoorthi have been willing to pay for a real good adviser? or bluntly how much would have I charged her?
Frankly I do not know….but far lesser than what she paid. I am sure.
You wanna read Moneylife Digital team’s story? Read on…and digest the numbers. I know many of them
BasuNivesh
Subra-Thought to share with you the easiest way of becoming FP. After your degree and some sales experience, take off from work for 6 months, attend CFP classes like child, clear it. Once cleared create your own site, office and software. Preparing plan is easy, just give clients ready made questioner, enter the filled data into FP software. That’s it!!!…Software will generate around 100 page to 200 page result which complicates client 🙂 Then charge according to the complication you create in the mind of client 🙂
subra
see the title I said ‘good adviser’. I know tons of terrible ones..and a few good ones. skill is in finding him/ her.
BasuNivesh
Exactly…but how many Indian investors are really so expert?
Shinu
Creating wealth is a gift.
Maintaining wealth is an art.
Sharing wealth is divine.
Looting wealth is what is almost everybody call “business”
Pravin
why are we so skeptical and khadoos with the subziwalla or the roadside hawker -haggling for every inch of money possible.but dont think too much about the same money when dealing with sharp dressed well spoken people?.this must have been a genetic benefit many millenia ago.today its our bane
Yaduveer Choudhary
see the title I said ‘good adviser’. I know tons of terrible ones..and a few good ones. skill is in finding him/ her.