Financial Planning: Meet your financial plan through a financial advisor


Many of us are running a busy life to make our dream come true– you may be one of them. Ask yourself – do you have the time, inclination, knowledge or skills required to manage your money, efficiently? Also, do you have time and passion to periodically pursue financial needs and take timely action? If the answer to both is a No, you may be putting financial planning on the back-foot.

Financial Planning

Financial planning is a comprehensive plan taking into account your current financial position, life goals, security required and time required to build wealth. Hence, it can be seen that any single advice does not work in isolation for financial planning. It is not merely investment / Insurance/tax advice, but also a combination of all. It is often said that Planning followed by fair execution leads to achievement; however, great execution without Planning will make you stumble upon contingencies. Hence,  Financial Planning is essential. It is done by qualified Certified Financial Planner. Also, its essence is in periodic review and timely action through our client engagements.

Insurance, Stocks, Mutual Funds, Fixed Deposits, Bonds, etc. are just some of the complexities involved in one’s financial planning. Selecting the right products for your financial profile is undoubtedly very important but creating the right plan to aid in product selection is equally important. Almost everybody believes in planning for holidays, home renovation, wedding ceremonies, etc. but choose to ignore planning their finances. After all, to fulfill all your objectives, you would definitely require money! So, then why not plan your finances?

How to achieve your financial plan?

Once you already have an idea about your financial goals, then there are some ways to achieve it. You will have to work with your advisor to implement that plan.You can expect independent & practical advise on various issues that may affect your wealth goals. These issues could be tax strategies, retirement planning, investment strategies, education planning etc.

Why hire a financial advisor for your financial plan?

Making long-term decisions about money can be a tough task for you. These financial advisors have in-depth and broader knowledge about managing money than you do. This is especially true when it comes to tough money-related decisions like investments and taxes. If you want to do financial planning for your investments, then a certified financial advisor surely is the right option. These individuals can solve all your queries related to your savings strategies, which stocks to invest or strategies relating to your retirement. So what I mean is a professional opinion can always be helpful towards the beginning of your financial planning process, when you are trying to set your goals.

There comes a time when paying for the financial advice will be a solid investment in your future. However, the decision to hire a financial advisor requires a careful cost/benefit analysis like what does it cost and what to expect to get in return? But one must be aware that no matter how much information is available online, your personal situation has to be unique. Also, it helps to get personal advice from a financial advisor.

What do these financial advisors do?

Financial advisors help investors to reach their financial goals. These goals are unlimited like minimizing their tax returns, generating income, retirement planning, debt reduction etc. These certified advisors help investors to diversify their portfolio into a different type of investments like stocks, bonds, mutual funds etc. So does this mean diversifying their investment portfolio reduce all risk? Well, this risk is not just behavioral, but also emotional. Like did you ever sell your stocks in the panic? Or take too much risk because of overconfident and your portfolio plunge due to the recession? An advisor counsels you through your difficult times and helps set expectations for your portfolio. This will let you know what risks are there and what ‘success’ looks like on the higher side.

How to find a financial advisor?

What do you think when you hear a word ‘financial advisor’? Does it look something similar to an investment advisor? Or a financial planner? , maybe just an advisor? Well, these all are not just a name but these are well-equipped professionals who have in-depth knowledge of problem-solving of their clients. Professionals with knowledge about Finance don’t mean they are financial advisors. The financial advisor is the one who actually knows the broader aspect of his client’s need. These advisors are basically independent and provide unbiased financial advisory services to their clients.

How to choose the best advisor for your financial plan?

A good financial advisor will always focus on providing you best services relating to your financial issues than just selling his products. He will ask you certain basic questions like –

-Do you want to continue your ULIP plan?

-Would you like to invest in risky securities than risk-free instruments?

-Should you invest in equities post your retirement?

He must focus on meeting your financial goals than just investment returns on your invested amount. His financial advisory services should be more of qualitative in nature covering all aspects of your financial life. Mere suggesting you investment products would not make him a best financial advisor. It is rather the last leg of the advisory process.

A good financial advisor is the one who doesn’t make any false promise of getting handsome returns on your investments. Instead, he must make you aware of potential risks of investing in equities, mutual funds etc.

Meet your financial plan through a good financial advisor

A good advisor will not only guides you doing right things but also helps you avoid mistakes that can cost you money. Since he is independent, his financial advisory services would be free from any biases. If he is registered with any regulatory, he must be complying with all the regulations laid down by that regulatory. Last but not least, he must disclose all material information including terms and conditions of his advisory services offered and also his conflict of interest, if any.

If you need any further assistance regarding any specific financial goal, feel free to contact us


About Author


Somashekar Krishnappa is a Wealth planner help those inclusive and sensible strategy have won many trusted relationships with High Net-worth Individuals, Corporates, Trusts and Institutions due to its ability to analyze and understand Investment needs of its clientele. His dedicated and devoted team of professional’s put-together experience of 20 years builds a Client relationship which crosses all the boundaries starting from a formal guidance and suggestion on to a Platform of Trust and Responsibility which exceeds the expectations set forth hitherto. We are glad to inform you that Somashekar has been awarded WINNER-EMERGING IFA (Best Advisor) BANGALORE during the 4th Annual Convention of Karnataka Association of Mutual Fund Advisors (KAMFA) held on 27th September 2014 for financial year 2013-14. Services offered : Mediclaim & Health Insurance, General Insurance

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