When we are sick, we will go to the doctor first and then go to the medical store to buy the medicine. Will you go to the medical store first and buy medicine? Not at all.
This is what is happening in financial services sector now. We are buying insurance policies and invest in mutual funds. We listen to the agents of a particular company and decide. It is as good as buying the medicine from the medical representative without consulting the doctor.
Why you should do a Financial Health Check up?
Over a period of time, all of us would have made some investments. This can be in Mutual funds, bank deposits, bonds, tax savings instruments, NCDs, PPF etc. We also would go for various life insurance schemes. It can be endowment, money back, ULIPs etc. Most of the customers are paying huge premium towards low return insurance schemes which was sold to them by the relative agents/bank employees.
There are mutual funds which has given return of 26% for the last 5 years. At the same time, there are funds which gave negative return of 7 %(-7%) in the same 5 year period! If you had invested 1 lakh in the first fund in 2007, you will have 3.17 Lakhs now. Had you invested 1 Lakh in the second fund, your 1 Lakh will be reduced to 69,000 now! Your wealth creation is very much dependant on selection of good funds and proper review.
Similarly, there are life insurance policies, which take around 20-25% of your premium towards various expenses of the insurance company. There are other charges which they will deduct from your premium every year. This will reduce your returns in the long run. There are policies where you can insure your life for 1 Crore at a yearly premium of Rs. 8000/-. You must take the right policy after careful analysis. You must exit the wrong policies at the earliest without adding more trouble.
There are debt investments like PPF, short term debt funds which offers attractive returns with least taxation. Most of them are far better than fixed deposits.
A Financial Health Check up will cover the following.
- Are you holding the right kind of savings? Whether it requires a change?
- Have you taken sufficient insurance to protect your family? Is it the right policy?
- Have you taken necessary health insurance over and above your company cover?
- Whether your agent made more money by selling wrong policies to you. How to escape from it?
- Have you invested only in Bank deposits? Why not in more tax friendly options?
- Why are you keeping huge amount in SB account? Let the money work for you to earn more.
- Have you stopped the SIPs, when the market crash and still in negative returns?
- Have you invested in the share market based on Tips and lost money?
- Are you in a credit card trap with roll over balance?
What way this will help you?
We will analyse all your current investments and insurance and will offer our unbiased opinion about the suitability of each of these instruments. After understanding your financial goals in life, we will help you in identifying the right investment opportunities for you. You can buy the products from the agents of your choice. But we can ensure that you are buying the right products.
We are not selling any financial products. We represent the customer and will protect his interest.
Why to pay for Financial Advice?
In the absence of any strict regulations, all are acting as financial advisers in our country. The agents of a particular company will be interested in selling their products only. Their sales targets will the top priority rather than your financial well being. The financial products are so complicated for investors. There are lot of hidden charges, to compensate the agents and the company. The only way to protect your money is to get the advice of a fee based financial planner WHO IS NOT SELLING ANY FINANCIAL PRODUCTS.
Our mission is to offer unbiased advice at affordable prices, because we believe that anybody before making any investment should have access to unbiased advice, so that he will not be misguided.
Since we do it online, we can attend to customers globally. We assure 100% confidentiality in all dealings. We allow you to do a reference check with any of our existing customers before actually starting the process. Also see the testimonials in our site from our customers.