We provide unbiased financial planning to our clients for a flat fee so that our interest is aligned with that of our clients. Our mantra is “Investment Simplified”. Albert Einstein once said, “Everything should be made as simple as possible, but not simpler.” We try to live it up to this philosophy in our work.
How much flat-fee we currently charge in the 1st Year of engagement?
We charge a flat fee of INR 15,000/- for preparing a comprehensive financial plan and retaining our services for the first year. We charge our fees based on SEBI’s latest guidelines on the conduct of Investment Advisers. Click Here
How much flat-fee we currently charge for renewal after 1st year of engagement?
We currently charge a renewal fee of INR 8,000/- per year from the second year onward for reviewing the financial plan and suggesting a course correction if any is required in subsequent years. Incase we revise our pricing then we would intimate the same to our existing and prospective clients about the same through email communication along with an updated Letter of engagement. We would renew our engagement based on mutual agreement with respect to the updated Letter of Engagement.
As we live in a VUCA (Volatile, Uncertain, Complex and Ambiguous) world so even well-laid plans are only half done, hence monitoring and review of the financial plan is merited if one does not have time to reflect on that then they can continue to do so by renewing our services.
What would be the process followed during the engagement?
Our prospective clients can contact us for discussion through our mobile number at +91-8861764646 or through email at firstname.lastname@example.org or our Contact Us page.
During the initial discussion, we request our prospective clients to desist from disclosing personal information prior to receiving and accepting our Letter of Engagement, which apart from other terms and conditions of engagement provides legal protection related to their data privacy.
If after discussion one evinces interest to hire our Fee-only financial planning services then we email to share our Letter of Engagement for the first year. Only after we receive consent from clients with regard to Letter of Engagement we share our details so that our clients can make online payment of INR 12,000/- as fees towards availing our services for one year through NEFT/RTGS/IMPS/UPI directly into our bank account. As per SEBI’s guidelines, we do not accept cash deposits into our account.
After receipt of the advance fee, we share the link to the risk profiling questionnaire and to the datasheet in order to estimate the risk profile and to capture the required financial data to prepare the goal-based financial plan respectively. Based on the receipt of these inputs from clients we estimate the client’s risk profiles and share the finding with the client’s over email. Once we receive clients’ acceptance of the estimated risk profile over email we prepare the Financial Plan. After preparing the Financial Plan, which includes a clear action plan, we share it with our clients over email in PDF format.
As an old Danish Proverb goes, “It is difficult to predict, especially the future.” hence we follow in other words “don’t count your chicken before they hatch” policy while preparing and reviewing the financial plan based on the letter of engagement. As a matter of fiduciary principle, apart from complying with SEBI regulations related to RIA (Registered Investment Adviser), we don’t offer execution services but our clients can seek our advice in executing the suggestion laid out in the Financial Plan during the engagement.
We suggest that our clients buy financial products directly from the financial product provider’s website for products suggested in the Financial Plan so that they can be assured of conflict-free advice. Further, in case our clients elicit our views with regard to the investment platform we duly inform them that we are platform agnostic and do not promote one investment in the platform over another.
During the period of engagement, we offer an annual review of the Financial Plan. During this process, we review the performance of the portfolio, which was created by clients based on the mutually agreed suggestions laid out in the Financial Plan by us. Based on the review, we might or might not suggest course correction with respect to the Financial Plan.
We believe in the old adage that, “Give a man a fish and you feed him for a day. Teach him how to fish and you feed him for his lifetime.” so that our clients if they chose to do so, once they become comfortable with their Financial Plan and if they have time to do, can manage their financial goals on their own.
How many times you can connect with us?
Our clients can contact us any number of times to discuss anything related to their financial plan during the period of engagement (in the first year and in subsequent years based on the mutually agreed renewal of engagement) preferably over email so that both of us get benefited by the traceability of discussion for future reference. We do not down delegate these discussions to anyone and I, Abhishek Kumar, will be the sole point of contact for you for all practical purposes.
During the period of engagement, we offer an annual or a biannual review of the Financial Plan. During this process, we review the performance of the portfolio, which was created by clients based on the mutually agreed suggestions laid out in the Financial Plan by us. Based on the review, we might or might not suggest course correction with respect to the Financial Plan.
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