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Financial Planning:
Financial planning is the first step toward a better financial future for your family. It helps you recognize your current financial situation along with your financial goals and provides a road-map. If you follow this road-map with discipline, it can empower you to live a life you want to live.

A brief about the work I do and the process I follow:
Primarily, I work on financial planning of resident Indians and NRIs who do most of their investments in India (I do not work with US and Canada NRIs). My job as a financial planner is to set your financial house in order and align your savings and investments with your goals and objectives; so that you have enough funds available at the time of need. The emphasis is on avoidance of serious mistakes or losses and to be free from effort, annoyance and the need for making frequent decisions. I suggest Equity Mutual Funds for equity investments. I do not provide stock advice.

The fee in the first year of engagement is ₹25,000 (inclusive of GST) and ₹10,000 (inclusive of GST) in the second year. The fee is for my availability as your financial adviser for a year and not only for financial planning or review. You can contact me any number of times to discuss anything related to personal finance and investing during the period of engagement. I will be the sole point of contact for you. I do not delegate financial planning and advice work to anyone else.

If you decide to hire me as your financial planner, I will mail you a formal letter of engagement which details the terms and conditions of the engagement. If you agree with the terms of engagement, you shall transfer advance fee of ₹15,000 to the bank account mentioned in the letter of engagement. After receiving the advance fee, I will share with you the data sheet. You shall provide all the details required for financial planning in the data sheet.

After receiving the data, we do 4 financial planning sessions of 1 hour each.
In 1st session, I try to understand your financial and life situation, your financial aspirations, goals, objectives and your knowledge of personal finance and investing.
In 2nd session, we discuss the equity part of portfolio construction for retail investors.
In 3rd session, we discuss the debt part of portfolio construction for retail investors and the logic of asset allocation.
The 4th session is the financial planning session in which we arrive at a clear financial planning action plan.

In some cases, where client is already at DIY (Do It Yourself) level, 4 sessions are not necessarily required. In few other cases, if required, I take more than 4 sessions. I share a google sheet with the help of which financial planning discussion is done over the phone call. I use Google hangouts for screen sharing. I do not do video calls since I find it distracting and I cannot focus on the work at hand. 

I usually mail the financial plan document in PDF format within a couple of days after we complete financial planning sessions.  The balance fee of ₹10,000 shall be paid after receiving the financial plan document. I reduce the balance fee if I find that the fee is high for client’s assets and savings potential.

Please Note : Investing is all about the future, and we do not know exactly how the future will pan out. Therefore, a better approach is to do financial planning calculations using conservative assumptions to get an idea about the savings and investments required to achieve financial goals; and then take money management one year at a time. I try to arrive at an agreed upon action plan for one year and the set of rules for the client to follow. Client’s job is to execute the action plan and stick to the process.

After the financial plan document is delivered, clients can contact me any number of times to discuss anything related to personal finance, investing and their own financial planning during the period of engagement. If the client’s financial or life situation changes and there is a need for modifications in the plan, I do additional sessions.

I work on the advice-only model and will not follow-up with all my clients about the execution of the plan. Therefore, implementation of the recommendations would be the responsibility of the client.

I believe that my primary job as a financial planner is to educate my clients about the basics of money management, practicalities of investing and financial planning heuristics, so that they become capable of managing their investments on their own. You can connect with me over WhatsApp to schedule an introductory call.

Our client featured in financial newspaper Mint : "Saving enough does not mean you’re saving right" - Jayant Poogalia

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My interview in Morningstar India - Feb 2019

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