7 Best Tips in Choosing a Best Financial Advisor in India

Proper control of our finances is an essential element of our life. This is due to the fact that we must not only meet our monthly expenses. But, also plan for our insurance needs, tax issues, and retirement. However, many of us tend to overlook our finances, either because we lack the necessary information or because we are short on time. Some investors frequently assume they can manage their finances on their own and do not require professional assistance. This may be true for those who have less experience and a solid comprehension of the subject. It could also be determined by the complexity of a person’s investment and whether or not they have a suitable temperament. The majority of people require such assistance in order to minimize risks and avoid costly blunders. As a result, they seek the advice of a professional financial planner or consultant.

Searching for the best financial advisor in India is like searching for a diamond in a coal mine. You need to do comprehensive research work before choosing a financial advisor. Well, don’t worry we have done the legwork for you. This article can help you spot a brilliant financial advisor in India. Note that an ideal financial advisor can make you cognizant of profitable ways to manage your money. So, be very careful while choosing a financial advisor for yourself. For instance: If you are going to invest in an education franchise in India, then an ideal financial advisor can help you. This article can serve great help to novice investors who are eagerly looking for the best financial advisor in India.

Here are 7 best tips you need to keep in mind while choosing the best financial advisor in India:

Finding a suitable financial advisor may take a lot of time. Thus, it is better to devote time while searching for a financial advisor rather than linking with the wrong one. Here are some tips for you.

Understand the types of advisors

We all know that financial advisors give relevant advice regarding managing your money. But, you need to understand that there are various types of financial advisors. Go through the following points to know the types of financial advisors:

  • Financial planning: A financial planner can suggest to you the amount of money you need to save money and where to invest that money. Also, they can tell you about the type of insurance you need.
  • Investment advisory services: Some financial advisors will only tell you where to invest your money. They can make you aware of profitable investments.
  • Retirement income planning: There are some financial advisors who can guide you regarding how to use your pension and gratuity.

First, be clear in your mind which type of assistance you need for finances. This clarity can help you link with a suitable financial advisor.

Check the credentials

Make sure you are not trusting a financial advisor blindly. You need to check the credentials first before associating with a financial advisor. Thus, you need to check the educational qualification of a financial advisor before seeking any type of advice. To find financial planners or advisors, you need to look for someone who is a Certified Financial Planner. Or you can approach someone who is a PFS (Personal Financial Specialist). We would suggest you seek help from a Chartered Financial Analyst. Thus, check the proficiency of a financial advisor before linking with them.

Know how financial advisors are compensated

There are numerous ways through which a financial advisor is paid. You need to know the several ways through which a financial advisor is paid. Well, you can either pay a lump sum fee to your advisor. Also, you can share the return on your investment with your advisor. However, you can choose a suitable way to compensate your advisor.

Use search engines to screen for criteria

Online searches are an excellent approach to limit down the advisors who have the qualifications and billing structure to fit your needs. Financial advisor search engines allow you to enter particular parameters about the type of advisor you want to find. With the help of the internet, you can find an appropriate financial advisor in your location. Thus, this is how you can find an ideal financial advisor for yourself.

Ask some questions before choosing

You can screen out financial advisors with whom you don’t communicate well by asking the correct questions. Have they been practicing for a long time? What kind of remuneration do they get? Is it possible for them to walk you through various retirement instances? Using certain interview questions, you may learn about the financial advisor’s communication style, as well as their area of specialization and ideal client. The trick is to make sure you understand the responses—and, if you don’t, to feel comfortable asking follow-up questions. Asking questions can clear your mind and help you pick a suitable advisor for yourself.

Check for complaints

Check an adviser’s credentials and complaint history with the Financial Industry Regulatory Authority (FINRA), the Securities and Exchange Commission (SEC), the CFP Board, or other membership organizations with which the advisor is affiliated before you hire them. Well, the longer someone is in the business, the more likely it is that they have made at least one mistake. Check the history of financial advisors carefully. If you find that the advisor is a defaulter, then move ahead and look for another advisor. Note that this step is really important while looking for an ideal financial advisor.

Learn how to spot fraud risks

When someone has control of your possessions, fraud is much easier to commit. Your funds will be held by a “third-party custodian” in the majority of cases by respected financial advisors. Your accounts would be opened with a large, well-known firm like Charles Schwab or Fidelity. The adviser can execute trades and provide account service. But, the custodian is responsible for reporting transactions to you, verifying signatures, and much more. So, be cautious of the advisors who have custody of your assets or liquid money. Before you link with any financial advisor in India, make sure you have the intellect to detect fraud. Do you want to invest your hard-earned money in a coaching franchise? If yes, then choose to connect with a trustworthy financial advisor. This is how you can save yourself from fraud.


Adhering to the aforementioned tips can help you choose the best financial advisor in India. We hope that this article can work magically for investors who want to know how to use their money or savings.

Leave a Comment