Things to keep in mind before choosing your MF Advisor

As published in Telegraph on 27th July 2016

Swatantra Kumar explains: Choosing MF advisors

1)Check the credentials: Prefer financial advisors who have a credible degree that supports their work like a Certified Financial Planner.

2) Experience matters: It’s simple — experience is the best teacher. Check how long the advisor has been in the business.

3) What’s their forte? The financial industry is quite big. One advisor may specialise in Insurance while another on Mutual Funds.

4) History is important: Check your advisor’s track record. While this does not indicate future performance, it can give you an idea about the quality of service.

5) Money, money, money: Don’t forget to compare fees. Too high a fee without a justified high return would mean you end with lower profits.

Now that you have started on the Mutual Fund investment journey, we will take you to the next step. Just like how you regularly conduct health checkups, you can learn how to efficiently check the health of your finances in the next edition. After all, wealth is also important to health.

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