Fee Only Financial Planning is a new concept in India. A Fee Only Financial Planner does not receive any commission or incentive from the mutual fund houses, insurance companies or from any other product or service recommended. A Fee Only Financial Planner is bound by Fiduciary responsibility towards his clients and follows due diligence procedures like risk profiling, asset allocation etc to safe the interests of his clients.
As a SEBI Registered Investment Adviser (Registration No. INA000018328), we promise that there is no conflict of interest. No Hidden Charges or Expenses, our only source of income is the fee that you pay us. We do not receive any commission from instruments recommended in your plan. We are one of the handful fee only financial planner in Bangalore, India having clients in Chennai, Hyderabad, Mumbai, Delhi and all across India. Get in touch with us for an unbiased & customized personal financial plan to boost your finances.
A Fee Only Financial Planner receives a fee for financial planning and advice and not through commissions from products or services recommended.
A Fee Based Financial Planner also holds licenses that allow them to distribute financial instruments or products through which they can earn commissions, brokerage or incentives.
A Fee Only Financial Planner does not have any conflict of interest; the investor’s and the adviser’s interest are aligned towards the betterment of the investor’s goals and objectives.
A Fee Only Financial Planner is someone who charges a fee for financial planning and advice. In Fee Only Financial Planning, the planner does not receive any commissions from products or services recommended.
A Fee Only Financial Planner receives a fee for financial planning and advice and not through commissions from products or services recommended.
A Fee Based Financial Planner also holds licenses that allow them to distribute financial instruments or products through which they can earn commissions, brokerage or incentives.
A Fee Only Financial Planner does not have any conflict of interest; the investor’s and the adviser’s interest are aligned towards the betterment of the investor’s goals and objectives.
As Fee Only Financial Planners do not recommend instruments based on the commissions or incentives, the returns generated for the investors are higher and more aligned towards the interests of the investors. A Fee Only Financial Planner is bound by Fiduciary responsibility towards his clients and follows due diligence procedures like risk profiling, asset allocation etc to safeguard the interests of his clients.
Read about 5 reasons to work with a Fee Only Financial Planner
Fee Only Financial Planners recommend only Direct Option of mutual funds, life insurance, portfolio management schemes and other financial instruments. The direct options of mutual funds and other mentioned instruments do not have any commissions or brokerages.
For example, the average commission for a equity mutual fund is around 0.9% p.a. and an individual investing ₹ 10,000 per month for 30 years would end up paying commission close to ₹ 50 lakh with the average returns of 12% p.a. This is significant impact on the long term savings and accumulation for an individual investor.
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.
We have three plans for Financial Planning catering to individual at three different stages of financial journey; one for Beginners at ₹ 15,000, Value Plan for Families ₹ 20,000 and the premium plan for the Sophisticated Investor at ₹ 25,000. You can have a look at the complete offering here.
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Name of Investment Advisor – Wealth Crafts
Type of SEBI Registration – Non – Individual | Validity – Perpetual
Registered Address – #39, 8th main road, Gokula 1st Stage 2 Phase, Mathikere, Bangalore – 560054
Contact Number – +91 9886524678
E-Mail – vivek@wealthcrafts.in
SEBI Registered Investment Advisers Registration No. INA000018328
BASL Membership ID: 2037,
SEBI regional/local office address – 7th Floor, 756-L, Anna Salai, Chennai – 600002, Tamil Nadu
Principal, Compliance & Grievance Officer: Mr. Vivek S G,
Contact No: 91 98865 24678,
Email: vivek@wealthcrafts.in
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