Posts in category All News
Stock market update: Nifty Bank index advances 0.2% in an upbeat market (20-06-2024)
Bullish Momentum: 3 stocks with White Marubozu Pattern on June 19 (20-06-2024)
Anshul Saigal identifies 5 sectors with significant profit potential (20-06-2024)
Why do you think people in India don’t take help from financial advisors? (20-06-2024)
Hi
I will tell you my personal concern about asking help from a Financial Planner or RIA. Now this is not a general statement but yes this did happen with my Family and we have been mis-sold a lot of products.
I fear when I go to a Financial Planner, he/she will not keep my interest above him. He might sell me a product with higher commissions even though it might not be a suitable product for me.
Also, we have seen so many scams in our history, we cannot easily trust anyone with our money. Moreover, we don’t have patience when it comes to losses. Lets say I go to a CFP for advice regarding my Investments and he suggests me to invest in MF and the market crashes due to something, I will till my death never believe any other Planner and will also try to influence others to do the same.
People prefer making mistakes by themselves, even if it means that they will loose their hard earned money.