SEBI has proposed that a Fee only Financial Planner who is a SEBI Registered Investment Adviser charge only up to ₹ 1,25,000 p.a. Most financial planners charge between as low as ₹ 15,000 for individuals who have just started earning to as much as ₹ 1,00,000 for sophisticated individuals who are looking for expert guidance on various investment instruments and strategies. The fee only financial planner fixes his charges based on the complexity level required to prepare a detailed financial plan for the prospective clients.
The Flat Fees charges by the Fee Only Financial Planner are very advantageous for individuals who have a large investible surplus and were previously working with Fee Based Commission oriented advisors charging a fee based on a % of the invested amounts. An investor with investible funds of ₹ 1 crore would end up paying a fee of ₹ 1 lakh to a Fee Based Advisor who charges about 1% of the invested funds.