When financial advice is easily available free (as many believe it) from family, friends, colleagues and online, then what can be the reason for paying a fee for getting it?
Many in India think like this. There is a general notion that financial advice should be free. But this isn’t correct.
If you are taking advice from a Fee-Only Investment Advisor or a Fee-Only Financial Planner that means you will be paying them for getting financial advice. Just like a patient goes to a doctor and pays a fee.
Since fee-only adviser is being paid only by the client, he will work only for the client. He will not be affiliated with any organization, mutual funds AMC, insurance companies. There will be no hidden commissions or sales incentives to influence the advisor’s investment recommendations.
And that is something really worth paying for – getting proper and conflict-free financial advice.
If someone is offering free advice to you, it clearly means that he is earning from some other source. And that source will be commissions from the sale of products which he sells alongwith doling out random free financial advice.
Why this is problematic?
Because these product sellers (like MF distributors, insurance agents and bank relationship manager) are motivated to maximize their earnings/profit and do not always have your best interests at heart. If some product is not suitable for you but gives them a higher commission, they most likely will sell you that product. And that is unethical on their part and more importantly, can result in financial disasters for you.
Suggested Reading:
- How agents & distributors to give wrong advice to clients?
- How much do mutual fund agents make in commission income?
- Why you shouldn’t take advice from your Banks?
The major benefit of taking advice from fee-only investment advisor (SEBI RIA) is that they do not sell financial products like mutual funds or stocks or insurance themselves. Instead, they provide recommendations via a well-thought-out, solid financial plan and guide you to implement it yourself.
And the best part is that, unlike product sellers, a fee-only financial planner will always look at your whole financial picture instead of trying to sell random products. A commission-based product seller, on the contrary, gets paid for selling financial instruments like stocks, bonds, mutual funds and annuities and not for giving you financial advice. And this is very important to understand as it shows where the hearts of these product sellers (MF agents, insurance agents, Bank RMs) is.
And this is why a Fee-Only Advisor will tell you what is really best for you. As he is not getting a commission from anyone. Only you pay him.
The brokers, agents and commission-based advisors who sell you random products don’t really care about your financial future. Those who work on a commission basis will never be focused on your comprehensive financial plan but instead will be looking for ways to sell you products that give them a commission.
If you think about it clearly, then you too will agree that a person selling a product and earning a commission from it can never be a true financial advisor. He is just a product seller as his interest lies in selling products and earning more commissions. Think about it for a moment and you too will realize it.
On the other hand, a fee-only financial planner will go much beyond just the selection of investment products and their returns. He will give you the right advice you need for saving for your financial goals, retirement planning, and having proper insurance in place. They will evaluate your current financial position and create a plan of action for methodically achieving your financial goals. They help make the right money decisions each time and help you avoid making financial mistakes.
And since these fee-only advisors aren’t preoccupied trying to sell you something to earn their big, hidden commission, you can be sure that you are getting their full attention and the right advice.
If you are looking for the best fee-only financial planner in India 2023 to plan your finances, then let me tell you that there are many good fee-only advisors out there.
And choosing the right financial advisor can make a world of difference in your investments and how you control your financial life.
Remember, at the end of the day, it is only about reaching your financial goals, dreams and aspirations.
Who am I to tell you all this?
I am a SEBI Registered Investment Adviser (SEBI RIA) who works with clients to provide Fee-Only Financial Planning and Fee-Only Investment Advisory. I also work with HNI clients to provide HNI (Affluent) Portfolio Advisory.

In addition to being a SEBI RIA, I own and run this site you are reading (www.StableInvestor.com) since 2011. It is considered one of the most popular and best Financial Planning & Investment Advisory websites in India.
To know more about the services I offer, please visit the below links which provide all the details of professional advisory deliverables and how I can work for you:
- Stable Investor’s Goal-based Financial Planning Service
- Stable Investor’s HNI Portfolio Advisory Service
Or if you aren’t sure which is the best service for you, then don’t worry. Just contact me using the simple form below to get this going:
I can assure you that being ‘Fee-Only’ SEBI Registered Investment Advisor 2023, I get paid solely by the clients I work for and nobody else. I am not affiliated with any financial institution and don’t earn commissions or sales incentives that can influence the investment recommendations.
And apart from offering advisory service which is of the highest quality and competency, I also focus on educating and empowering my clients to make the right financial decisions for the right reasons themselves.
By the way, please don’t be under the impression that you should only engage with a Fee-Only Investment Advisor who is in the same city as yours. Distance is not a barrier to providing financial planning services these days. Most of the communications happen over phone/email etc. So the adviser being in the same city as yours isn’t relevant unless you have made up your mind about that.
I myself, being a SEBI RIA work with clients across India who stay in Bangalore (and look for fee only financial planner Bangalore Bengaluru), Mumbai (and look for fee only financial planner Mumbai), Chennai (and look for fee only financial planner Chennai), Hyderabad (and look for fee only financial planner Hyderabad), Delhi (and look for fee only financial planner Delhi Noida Gurgaon) and many other cities of India and Indians residing abroad. As I said, technology allows me to work with my clients across geographies.
No doubt it is easy to get attracted to the free advice that commission-earning agents and fake advisers give. But it is your hard earned money and it is very important to pick the right financial advisor who really understands your financial goals. You wouldn’t want to give control of your money to the wrong person to manage it. Right?
I know that in India, we people are still not comfortable paying a fee for financial advice. However, things are changing and people are now realizing the importance of getting the proper financial advice even if they have to pay for it.
And when you too realize this, it will be in your best interest to opt for a planner or an advisor who charges you a fee and avoid taking wrong advice from those who are trying to sell products.
Meeting a good fee-only financial planner can give you the wake-up call you need. And believe me, a good financial plan can put your financial life back on track.
And that is just one of the many Benefits of Fee Only Financial Advice in India.
So if you are still undecided or want to know more about fee-only financial advisory services, then just drop me a short message using the form below. I will reach out to you myself: