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5 Extra things handled by Extraordinary Financial Advisors

5 Extra things handled by Extraordinary Financial Advisors

by Holistic Leave a Comment | Filed Under: Financial Planning

Personal Finance = Personal + Finance

After a meeting with my client yesterday, somewhere inside me I realized that being a financial advisor is a challenging job. And what makes it even tougher is not its finance related section, but the personal aspect. One can rarely separate the family from the finance; as a result, many financial advisors are seen as also becoming family counselors.

Financial Advisor in Client’s shoes

According to some general surveys conducted by various financial and investment companies, it was found that a majority of the married couples would not agree on the approximate age of their retirement . Also, half of these were not sure whether they would continue working post retirement . So, here the financial planners took their role of bringing themselves to the same level of thinking as their clients to solve their problems.

With time moving ahead from an entirely investing age to that of financial planning age based on certain goals, it is now significant for the advisors to inquire about certain aspects of their clients’ personal lives, which may not be completely financial.

Some may term it as an invasion of their privacy, but these are a few things that your advisor must know so that he may help you in taking better decisions in your life. These are some questions that you may find tough to answer, but are important to be answered.

1. Dependent and earning members in your family

Well, this seems as the most commonly asked questions as it is important for your advisor to know about your spouse’s support in the family income. If there is only one spouse supporting the family financially, then it is required for the other to be involved in other prime matters.

Whereas, in case of both the spouses working, they are at the same level as far as spending and investment are concerned. It is quite logical to say that men and women both manage risks at different levels. According to some surveys, women are more unwilling to take risks and more towards the safety side whereas men tend to be more aggressive.

For proper monetary management, a balance of both the qualities is required, with both partners agreeing on the same financial goals.

2. Children’s higher education

In a country like India, children are taken care of till the time they start earning. But with the rising costs of education, it is always not possible. Parents rarely discuss their money matters with children as they hesitate sharing some truths and disappointing them. At certain times, the parents also take major decisions in their career, such as relating to their retirement, for funding their child’s higher education. But at such times, it is important to consider what is the most suitable. With a plenty of education loans available, it is not a bad idea to make your child responsible enough for paying his/her education expenses.

3. Your family’s support after you

In the current scenario of rising trend of nuclear families, this is one important question that needs to be taken care of. One may surely be responsible enough to leave an insurance policy for his family, but it is also important to take care of things like a suitable accommodation for the family, someone responsible to help your dependents make a claim and invest the money claimed.

4. Inherited share from siblings

A majority of people somewhere have a thought that they will inherit some property or wealth. But how much truth lies in this also depends on one’s relations with the siblings. Sibling rivalry is well-expected especially in matters of distribution of inherited property. So, it is important that while planning for one’s financial future, one does depend much on matters of inherited property or share.

5. Dependence on children in old age

This is applicable for parents, whose children are grown up and also working. It also includes the recently retired parents, who have realized that their collected money may not be sufficient for their survival ahead. Such parents depend on their children for financial as well as physical support. However, they should also be prepared with an alternate plan.One important thing that parents need to be cautious with is controlling their tendency to transfer assets (both property and business) in their child’s name.

The practical scenario

This is the final most important point arising in the mind of a financial advisor. It is important for anyone to be practical and reasonable in terms of managing one’s finances. The reason for the same lies in a human’s natural tendency to look for the best in everything he desires and at the most optimum prices. Whether it’s a new car, a house, a vacation trip or even your child’s future, one never wants to compromise.

By providing real and honest answers for such questions to your financial advisor, you are makings some working solutions ready for any of financial issues in the future. Even if you don’t hire a financial planner, it is important to think for yourself on the above stated matters and try to come out with the truth.As it well-known that being cautious is always more fruitful than being alarmed.

If you would like to check whether we are a right financial planner/ investment advisor for you, then I strongly recommend you to take advantage of our for

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Jey S
Jey S
24. September, 2021.
I have been using Holistic Investment Planners for the last three years. Mr. Srinivasavaradhan answered all my questions and doubts very patiently during the first free consultation. I was able to clearly define my short-, medium- and long-term goals once I signed up for the comprehensive plan and got their investment plan suggestion to achieve my goals. They are very polite and highly professional whenever I contact them for any queries or make investments. They never pressurize you to invest on their recommended financial products. I would have been lost money by investing directly without their help since I do not have time and knowledge about different financial products. Risk planning is also done as part of financial planning. Truly, they are holistic planners when it comes to your financial planning. They help you to define your life goals, understand your financial resources and establish a plan to invest towards reaching those goals. They do review your plan as you progress to make sure that you are on correct path to achieve those goals. Kudos to the team and keep up the good work!!! I am happy that I found holistic investment planners for my financial planning and management.
aksaswadkar
aksaswadkar
24. September, 2021.
I was about to retire and really not understanding how to invest money to have financial freedom and fulfilling my goals. Was desperately searching on internet way out and fortunately came across Holistic Investment Planners. I read number of articles on their website and realized that this is the agency which I want and engaged their services for my retirement planning. It is an excellent experience to be associated with Holistic. Right from day one our interaction was fantastic and they gave me such a wonderful plan that I had never imagined. I am fortunate enough to be in the client list of Holistic. I have recommended Holistic to my friends as well.
Lionel Faber
Lionel Faber
16. September, 2021.
I've been availing their services for the past year. They are highly knowledgeable in the field and are very patient with all doubts and queries. Personalized financial planning is provided keeping your short term, medium term and long term goals in mind. They do not pressurize you to purchase schemes of their choice. They provide their input and suggestions and leave the decision up to you which shows their honesty and high principle.
Sridhar
Sridhar
8. September, 2021.
Financial planning brings peace in life. Holistic Investment have supported in arriving financial plan based on future goals. My investments are regular since then. They are professionals in their business, will recommend others.
Nitesh Agrawal
Nitesh Agrawal
6. September, 2021.
I have been using Holistic Investment Planners from last one year. The journey has been fantastic. Being a finance person myself I always thought we can look after and plan own finances also. However, due to lack of time and deciplain the things are not always as desired. After joining with Holistic Investment for the first time Icame to know the Financial goals and quantified them. Some dreams were unrealistic based on the earnings and savings so had a reality check. Also got the information and deciplain of investing on regular and more rewarding securities. I definetly suggest to use Holistic Investment Planners. They are professionals, available and hear youor full story before presenting plans. They are flexile in the sense if there are some urgent deviations required, they help to plan the same. For all professionals/individuals I would suggest using professional help of Holistic Investment Planners for best results in long term investment and financial goals achivements. Last advise will be to start early in your life. It really pays well to start in the beginning itself else the dreams needs to adjust :)
Swetha Vasanth
Swetha Vasanth
6. September, 2021.
This is my first year service with the Holistic Team and I would say that they are very much helpful in creating a financial plan and follow ups during the year. I would definitely suggest them if anyone who is willing to proceed with their savings professionally.
Joseph Mathias
Joseph Mathias
6. September, 2021.
I came to know about Holistic Investment Planners online while searching for different investment ideas. Once I contacted them the journey was very smooth. Mr. Ramalingam explained all the aspects of Financial planning in detail and it opened my mind. I realized how important it is to have a Financial planning. Mr. Rajan suggested all the requirements as per my goals and made a Investment plan keeping in mind of my goals. I started my Investment journey with them. I wish I had done it some years back then it would have been in a different level. Review meetings were held every six month to check the implementation of the plan and check the results as per the requirements and to check if any changes required. Overall it was a good experience with Holistic Investment team and would like to continue in the years to come.
Srinvas Kannan
Srinvas Kannan
30. July, 2021.
I came across Holistic investment planners almost 5-6 years back, but I did not have the trust since I had met a few of them who did not sound promising. Then I started investing through a financial advisor of my friend. After 4 years of investing the returns were very low. I was disappointed and started looking for financial advisors when I came across Holistic investment. I had a detailed discussion about my goals and the way they would approach achieving my goal before deciding to switch my investments to them. After a thorough analysis of my then existing portfolios, they suggested new ones and we zeroed-in on 6 schemes/funds where our investment would be split. I am glad I made the decision of switching over and taking Holistic planner's advise, my returns are handsome and I only wish I could have taken their help/advise 5 years back itself. Neverthless, I would like to recommend their services for investment and financial advise if someone is serious about their investments.
Shivaram Andiappan Selvaraj
Shivaram Andiappan Selvaraj
3. July, 2021.
I got a free first time consultation. I got my doubts resolved. They also gave additional advises for investment planning which was also useful.
Nellai B
Nellai B
26. June, 2021.
I have been associated with them for the past three years. They are very professional and polite in answering all our questions. I have complete trust in their suggestions. I strongly recommend for anyone. I am looking forward to have strong and successful association with them.
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