Best Financial Planner in India: How to Choose a Certified Financial Planner

Money is not just a number; it gives you freedom, security, and the ability to shape your future. Across the globe, people are redefining their relationship with wealth by moving beyond simple savings to strategic financial planning. As disposable incomes rise and financial awareness grows, the demand for expert financial guidance continues to surge. 

More individuals now look for professional financial and risk management, making the need for qualified and regulated financial planners greater than ever.

But how do you choose the best financial planner for your unique needs? Let’s explore. 

Why Do You Need a Financial Planner?

Every person has unique needs and financial plan objectives. A single investment plan can’t be suitable for everyone. Also, not everyone has the expertise and time to manage their wealth. This is where customised financial goal planning comes in. 

Certified financial planners (CFPs) bring expertise and are well-equipped with recent market trends and laws. They assess your objectives of personal financial planning and risk profile to create a tailored financial plan. Their task is not just to develop a plan but to monitor, amend, and make necessary changes to your financial plans based on changing situations.

Using a financial planning calculator can help you assess your current financial standing, which could be helpful before seeking expert advice.

Who is a Certified Financial Planner (CFP)?

A CFP is a qualified professional specialising in goal-based financial planning. They are certified by the Financial Planning Standards Board (FPSB) India and can create comprehensive financial plans for your needs. This is one of the reputable certifications in financial planning in India.

They provide guidance on areas such as investments, wealth management, insurance, retirement, and tax planning. A CFP’s knowledge of different financial markets helps clients get expert financial guidance and tailored goal planning.

However, CFP certification alone does not permit the individual to provide investment advice on securities (like mutual funds or stocks) unless they are also registered as a SEBI-registered Investment Adviser (RIA). 

A CFP can offer general financial planning (e.g., insurance or budgeting) without RIA registration, but for personalised advice on securities, they must be registered with SEBI as an adviser.

What are the Key Services Offered by CFP? 

1. Investment Planning

A CFP registered with SEBI as RIA can assist in choosing the right investment options for their clients. These options, such as mutual funds, stocks, bonds, and fixed deposits, assist in achieving financial planning goals while balancing risk.

2. Taxation Planning 

A good financial planner suggests tax-saving strategies through instruments like ELSS, PPF, NPS, and tax-efficient investment plans. Many financial planning apps provide tools to optimise your tax planning.

3. Retirement Planning 

Planning for your retirement is essential for financial independence. A financial planner can assist in this process. They evaluate your current savings and future needs to create a goal-based financial plan for retirement.

4. Insurance Planning 

A financial planning company analyses your risks and suggests suitable insurance plans. These plans, like life, health, and disability insurance, can help protect you and your family.

5. Estate Planning  

Financial planners ensure a smooth transfer of assets to heirs and minimise legal and tax hassles. A CFP can guide clients on estate planning strategies and coordinate with legal professionals for drafting wills or setting up trusts, as only licensed lawyers can prepare these legal documents in India.

How to Choose the Best CFP in India?  

Consider these five factors before choosing the best financial planners in India.

1. Before selecting a personal financial planner, define your financial planning objectives. Do you want to accumulate wealth, or do you want a tax deduction? Or retirement security? A clear understanding of your objectives will help you choose the right planner.
2. This is one of the most important steps. Check whether the financial planner is a certified financial planner in India or has relevant licenses. If you need investment advice on securities, check whether the planner is registered with SEBI. Ensure that their certifications are active and not expired. You can verify RIAs on SEBI’s website and CFPs on FPSB India’s site.
3. The financial planner should act in your best interest. Financial planning companies should clearly state their fee model, investment philosophy, and regulatory disclosures. 
4. Look for testimonials, reviews, and client references to check credibility. You can check online platforms, Google reviews, and financial planning firms to gauge past clients’ experiences.

To Wrap Up 

Choosing the best financial goal planner in India requires thorough research and careful evaluation. By understanding the goals of planning in India, double-checking credentials, and reviewing investment approaches, you can ensure a smooth wealth-building journey. 

A qualified planner can help you beat financial challenges and build lasting wealth. An online financial planner is also a straightforward way to explore different planning options.

So, why wait? Connect with Scripbox’s for a personalised financial plan today.

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