Are financial planners/advisors worth it?
I've been following traditional FD/RD/PPF investments with miniscule Sip over the last few years, since most of my income goes in clearing my debts. Now that I'm debt free, i need to figure out wealth generating avenues, but I'm not an expert in this area. So, is it ok to trust financial advisors to monthly invest about 3L (my investment appetite per month)? Or do they generally work on their/Fund's interest instead of the client's interest?
Simply put, any genuine advisor won't try to sell you bad products because it's in their incentive to keep you retained for really long. There's a lot of perceived notion in market that Index & Direct MF is the best strategy. In my opinion 1. There are advisors who can get you returns more than index 2. Just help you take best financial decisions.
For example, typical sentiment might be to pay off loans and then think about wealth creation, but this won't apply if you had education loan with cheap interest and tax benefits. 3L per month investment is a good enough amount to consider sophisticated investment instruments which advisor can share with you
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