A little about me: I qualified as a CA, trained as a lawyer, did equity research for 2 decades, was a director in a corporate which was a member of NSE. Have been in equity investing for the past 40 years (1979 is when I started, class 12).

Maybe it is for people like me that the Sebi decided that we are capable of going “direct”.

However, I do have a broker (for my share transaction, not just a zero charging website), a CA to file my GST and IT returns, and a mutual fund adviser for my investments.

So that is just saying what is not very obvious to many people: ADVISOR ZAROORI HAI.

Why do I need an advisor? Well my relationship with my broker goes back to 1979, and yes it is the same broker with whom I started. We were both young and he had just finished college. Now both his daughters are married! Why do I need him? btw he is not exactly charging me zero brokerage.

I need that relationship because my personal equity portfolio is on auto pilot mode and not even one transaction in my life did I feel he was doing just to earn brokerage. Not even one – considering that we must have done upwards of 10000 transactions!

People who do not know the Value of an adviser, crib about the price of an adviser. Of course, he has added tremendous value to my portfolio.

Why do I need a CA to file my GST and IT returns? Simply becuase the efforts suck. I am not willing to spend 3 days a month tabulating, calculating,…I would rather give it to a CA who will employ people to do it. Simple. Yes the relationship goes back to 1977. Classmate from college.

My IFA adviser is more of a friend – and it is long distance – and he discusses the happenings in the MF business, because he has a good top view. I know dozens of advisers whom I can ask for some specific queries – and a lot whom I can bounce of ideas. I have met tens of thousands of IFA and will find one in every state capital for sure. Doing training for at least 10 mutual fund houses has taken me all over the country – specifically Srinagar to Trivandrum..Goa to Guwahati..and that means I get tons of ideas. I get to see the value.

Do I need a broker, CA, and an adviser?

Well, they surely take away the mundane work WHICH I CLEARLY DO NOT WANT TO DO. I do not exactly love paper work (like most of us I guess). I am not enamored meeting baboo(n)s for my revenue issues. My equity portfolio requires far more attention than what I am willing to give or even accept that it deserves. Regular weeding of the garden is a must, and I am not doing enough of it – even while having a full time attendant.

Yes I have to remember that I have my biases, and my advisers have their biases. I only know that all my advisers have congruent goals – increase in net worth. I know conflicts happen, and I also know how to resolve it.

I know many senior management people in the BFSI space whose portfolios can be managed much much better than what they are doing it themselves. I know one CEO whom I asked “If you had outsourced your portfolio to a guy and if he had managed it the way you have managed..would you have kept him on till now”.

He laughed and said: No way. I would have sacked him and SUED him for s…ing my portfolio.

I said since you cannot sack yourself, and you cannot tell a lie to the man’s face you see while shaving, get an adviser. He did.

I know of a friend who had Rs. 22 L in the savings account for 2-3 years. I commented on that. His wife said “Subra he is not telling you the whole story..between his account, my mother’s account, and his parents account, and my daughter’s account..we have about Rs. 1 crore. I was stunned. I dare not even tell you what is his profession. He will kill me.

I realized what happend. Our common friend had asked him to shift from an IFA to direct. In act that common friend did help in doing that. After that the SIP stopped. This great guy was far to busy to do it.

If you are a full time senior executive on a CTC of Rs. 2 crores, or a doctor running a hospital or running from hospital to hospital, or a CA in tax and audit practice, believe me outsourcing is far, far less expensive.

If you have lots of time, patience, …..then well, you can be your own adviser. Check out your personality, and then decide. My mama does his own investing in direct. My maasi uses a banker. Nothing right or wrong, see what suits you. In my case I am clear – mere liye ADVISOR ZAROORI HAI.