Certified Financial Planners (CFP) – Who are certified financial planners (CFP) in India? How much fee do they charge? What should you look for while hiring a financial planner? If you are looking for these answer you are at right place. In this article, I will be sharing information about the point you should consider before hiring financial planner. I will also share a list of Certified Financial Planners (CFP) in India.
Who is a Financial Planner?
A Financial planner is an individual who helps you to deal with financial issues via proper planning. Just like we have doctors for medical problems, we have financial planners for financial problems.
To become a doctor, we have certification course MBBS, to become advocate we have certification course of LLB. Similarly in order to become financial planner certification course of CFP is offered by FPSB – Financial Planning Standards Board India.
Certified Financial Planners (CFP) are professional authorized to do financial planning. If you are planning to take help from financial planner you must opt for CFP (Certified Financial Planner).
Who is not a Financial Planner?
Today we find a lot of people advertise themselves as a financial planner. By education either they are CA, MBA (finance), ICWA or CS. Although they have knowledge in finance domain that does not mean that they can act as a financial planner.
In the same way Insurance agent, Mutual Fund agent, Wealth Manager or Relationship manager is not a financial planner. These people can definitely help for the selection of right investment product, but that does not mean that they are financial planners.
Financial planning is a personalized service. A financial planner makes a financial plan. This financial plan contains detailed information about the future financial goal, tax planning, insurance planning, investment advice, cash flow management, and lot more.
Where to Find Certified Financial Planners?
So, Big question is where to find certified financial planners? One good news is FPSB provides an online facility to search certified financial planners. Kindly visit FPSB website to search for certified financial planners nearby your area.
You can find CFP based on Name/company, City/State and Nature of employment.
List of Certified Financial Planners in India
Here is a list of selected certified financial planners in India.
| Sr No | Name of Financial Planner | Address | Website |
| 1 | Mr. Jayesh R Parekh | B-702, Ruchi Apt, Devidas Road, Borivali (West) Mumbai Maharashtra 400103 | – |
| 2 | Mr. Ramesh Chouhan | Max Secure Financial Planners Sector-20, CBD Belapur, Navi-Mumbai | http://www.maxsecfp.in/ |
| 3 | Mr.Amit Suri | H-81/1, Shivaji Park, Punjabi Bagh, Delhi 110026 | http://amitsuri.com |
| 4 | Mr. Basavaraj | 153, 19th Cross Road, 7th C Main Road, 3rd Block, 4th Stage,, Basaveshwara Nagar, Bengaluru, Karnataka 560079 | http://basunivesh.com |
| 5 | Soubhagya Patra | BIIT Business Centre, # 257, First Floor, 9th ‘A’ Main , 3rd Block, Jayanagar, Bangalore – 560011 | http://www.succinctfp.com |
| 6 | Mr.Sukhvinder Sidhu | SCO-76, 2nd Floor, Mugal Canal Karnal, Haryana – 132001 | http://www.finlifecare.com |
| 7 | Salma Sony | Flat No. 34, Zircon, Vatikaa Green City, Dimna Road, Mango, Within P.S Mango, East Singhbhum Jamshedpur, Jharkhand- 831018 | https://salmasony.com/ |
Points you should consider before Hiring a financial planner
- Education qualification
- Experience
- Knowledge and competence
- Confidence
- Trust and Credibility
- Reference
How much fee Financial planner charge for financial planning?
Financial planner charge 150$ to 300$. This means 10,000 Rs to 20,000 Rs/- for financial planning. However, this fees varies from planner to planner.
Apart from financial planning these financial planner also offers services like tax planning, retirement planning, insurance planning, portfolio tracking advice etc.
Certified Financial Planner (CFP) or Registered Investment Advisor (RIA)
Apart from certified financial planner we have another category called as Registered Investment Advisor (RIA). An investment advisor registered with SEBI for offering investment advice on stock, mutual funds, bonds, ETF is known as RIA.
Registered Investment Advisors are authorized by SEBI to give investment advice relating to investing in, purchasing, selling or dealing in securities or investment products, and advice on investment portfolios containing securities or investment products for the benefit of the client and shall include financial planning.
Registered Investment advisors are equally capable of providing financial planning services, however, the decision of taking services is from them is entirely up to you.
RIAs generally charge fixed fee or hourly fees. Many RIA charges a percentage of the value of the assets they manage for a client.
Request-
If you have taken services from any financial planner and are satisfied with them. Do share with us so that we can expand the list of financial planners given here.
I would also appreciate it if you can leave a note sharing your experience in the comment section.
