Have you wondered why people make mistakes while buying financial products? Well here is what I think: 1. Products are complicated: Most financial products are complicated. This is absolutely necessary so that the charges can be well hidden. 2. Salesmen are always in a hurry: This is easy to understand. They are paid for closing, […]
When the mutual fund industry was groaning about the ban on entry loads, the sounds seemed genuine, but not any longer! Why do companies start a mutual fund (big houses in other financial products) we assume they do this to earn money, correct? Well I am not so sure now. The latest giga offer I […]
A few people I know keep comparing themselves with fund managers – and can arrive at fantastic conclusions. Here is a case in point. One female – nothing to do with equity markets in her professional life – was a sitting duck for many people selling financial products. To the credit of the salesmen she […]
On one side Mr. Swarup says financial products should become cheaper. He also says that the customer should pay for the advisor’s services. This is a great move the person who is getting the services can choose how much to pay. However the IRDA has one funny (weird) condition in its armory. There is something […]
In all my financial interactions – be it planning for clients, training, teaching or writing, people have come to me with some problem which they think is unique. In all the financial problems, I am able to find a pattern. Believe it or nor, people more often than not choose the problem by their behavior. […]