Why do you think people in India don’t take help from financial advisors?

I don’t think it is about Financial Literacy or Illiteracy. If it was only about knowledge and available information, businessman would never go bankrupt or biggest investors would never loose money.

All Financially Literate and Illiterate, should also have an understanding about the markets, economics and most importantly, have patience. Financial Advisors don’t merely offer advice, they also help investors navigate through difficult market situations.

And I know this first hand, Financial Advisory is in no way easy. For once, just try talking to an investor who has lost 20% of his capital in a market crash. Try convincing him to stay invested and maybe even invest more. That is absolutely impossible but Financial Advisors somehow manage to do it.