We believe that every financial decision in our life should be based on some goal. The goal can be building a retirement nest egg, saving for your children’s college education or wedding, saving for a down-payment for property purchase, protecting your family from financial distress due to unforeseen risks, protecting your family from health risks, protecting your home or business from fire or other hazards etc., but unless you have an objective, you will not be able to make the right decision.

We also were chased by individuals who would specialise in selling a particular product. It could have been insurance, tax planning products, loans etc. In most events there was significant mis-match between what we wanted and what we got. The products would service most but not all requirements of the problem we had.

In India there is myth that financial planners are only hired by the rich class or the millionaires, but today the times are changing, now even a common man can hire a financial planner so that he can manage his finances in the most appropriate and efficient way. Financial planner charge a good sum of money as their fees but this money can be called as an investment, we should pay this fee so that we can eliminate all the errors which we personally make while managing our money, a small mistake can break your whole empire.

Below are 7 main reasons why should hire a financial planner:-

  • Provide regularly dedicated attention:

Financial /investment advisors put in all their time and efforts to managing their clients’ financial goal. Their functional abilities can be truly advantageous with their knowledge & contacts, their approach to investment opportunities, overall experience and vocational expertise.

  • Plan your financial life:

Even if you have a do-it-yourself philosophy about handling your money, working with a financial advisor is one very smart move you can make to channelize your investments. They will help you organise your financial life and also ensure you start early to maximise benefits. A good financial advisor can help to...

Identify and carefully prioritise financial goals and chart out a clear roadmap for achieving them

Help demystify complex financial decisions and provide new insights and investment options: for example: they can help segregate real and exaggerated/understated  needs when it comes to how much to invest for child’s education and also advise on how to get best returns through combination of products

Will consolidate your finances and plan savings and investments around your financial needs including detailed plans for expense planning, retirement, insurance, tax and estate planning needs

  • Set realistic financial goals.

Majority of the people would disagree with this point, when we set our financial goals all by
ourselves we tend to set an unrealistic goal which is impossible to achieve or we would set a goal which can be easily achieved. In the earlier case we would be annoyed and disturbed if we fail to achieve this would affect our life. In the later we achieve our goal well in advance and after that we become lethargic and become less productive. A certified financial planner would help you to set a realistic financial goal which is based on your current financial status. Apart from this they will also guide you to achieve this goal.

  • Create a financial plan:

In the previous point we saw that a professional financial planner would help you to set a realistic financial goal which would be the best for you according to your current financial status and future potentials. Now the planner would also help you to create a solid plan by which you can easily achieve your financial goal. The plan would consist of a detailed plan on how to invest, where to invest and when to invest. With the help of professional financial planner you can make a financially secure future.

  • Tax Planning:

Majority of the people who choose to take the help of financial planners are liable to pay taxes. As a common man we wouldn’t know how to get benefitted while paying the taxes. There are numerous schemes and plan which would be very beneficial for the tax saving, these plans are called tax saving schemes. The plan which suits you the best would be suggested by your financial planner. This would help you to save more money without cheating the government.

  • Save Time and Reduce Stress:

Why do we make an investment? A majority answers will usually revolve around the following common grounds:
o To be able to achieve our continual objectives in life.
o To be able to enjoy the ripe fruits of our lifelong toil, after our retirement.

Managing our investments on our own, can sometimes be an obstacle to meeting the above goals. Wondering why? Because that requires a greater amount of time, research and persistence to invest for making strategic decisions. An efficient financial /investment advisor will proactively take all your finance management responsibilities upon their shoulders.

  • Provide professional guidance:

When you hire any professional you expect that level of service from them. They offer the services in such a way that a common man could not be able to do. Same, when you hire a financial planner he will give you ideas which would be very helpful to you. Such ideas would be thought of by a common man. They advise you to invest in such policies where you can get the maximum returns and those policies would be unaware to you. This is what makes them a professional.


In this article we have discussed, how personal financial planning can help you meet your short term, medium term and long term financial objectives. You can engage a financial planner, to prepare your financial plan and implement it. However, you should remember that, the effectiveness of your financial plan will depend on the level of your engagement in the process. In our next article, we will discuss some important steps in the financial planning process.

Further more detail or want some more clarification on this you can easily connect with me at info@rupayabazaar.com or at my facebook page @manishabhatia.rupayabazaar     

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