Modern day Indians are financially quite literate and prudent. They understand the advantages of investing in diverse market instruments and the benefits in securing the professional advice provided by the best Financial Services companies. 

A Financial Services company (also known as financial advisors or financial planners) seeks to maximize your gains while trying to keep the risks at a minimum. They help create an entire risk profile based on your age, earning, risk appetite etc and help you plan for short-term and long-term financial goals. For these services they charge consulting fees and other charges as applicable. With so many Financial Services companies, all claiming to be the best, it is easy to get confused. We help you out by giving you the key questions to ask and considerations to keep in mind while choosing the right Financial Services company to nurture your investment portfolio.

What are the services offered by the Financial Services company?

The foremost question should be in order to understand the gamut of services provided by the Financial Services company. It is common to come across advisors who are just trying to sell specific investment products. Moreover there are some companies which provide planning services only, as in guidance or advice; whereas there are some to specialize only in providing an investment platform while the users need to make their own investment decision. You should be aiming to identify a Financial Services company that provides a comprehensive range of financial services which should ideally include short-term , long-term and specific goals based planning (like buying a car, buying a house), tax savings, retirement planning etc, to name a few. Once you have understood the services then you can speak to their consultants to get a tailor made service offerings catalog to fit your specific needs and requirements.

What is the credibility of the Financial Services company?

To safeguard the interests of investors, the Securities and Exchange Board of India (SEBI) made it mandatory for all advisors, consultants and financial services companies to register with them before offering paid services. So this registration and license is the bare minimum that you should be looking at, as it ensures the company’s credibility. However, other industry-specific certifications can lend more credibility and confidence in the company you choose to deal with. Do remember, more certifications do not necessarily mean better services. For that, you should inquire about the company’s track record and performance history.

What is the fee structure?

After establishing the credibility of the Financial Services company and understanding the services you wish to avail, the next logical question should be regarding the fee structure and other charges. This is very important to ensure that you only pay for what you are availing since it is likely to cause a dent in your overall returns. The best Financial Services companies have a transparent and clear fee structure with all provisions accounted for at the outset of the professional relationship. Beware of hidden charges or additional commissions which were not part of the fee structure. Also, be mindful of those who try to push only specific investment products since they stand to gain from the sources. These should be treated as red flags. 

How is success measured?

Success may mean different things for different people. There can be several ways to measure success or the company’s past track record you are considering. For some, it may simply be the number of portfolios; for some others, it may just be about the profits achieved. For you to be confident in the company’s performance that is being considered, feel free to ask them their criteria for success. It is usually a good idea for the company to have fulfilled as many client goals as possible because that is typically the right balance of risk and rewards. You may also ask to see the annual reports for public listed companies or request a sample financial plan.

What are the channels of communication and transaction?

Another very relevant question is regarding the frequency and channels of communication. This is an essential feature of any mutually beneficial and long-lasting relationship. You can further ask if any relationship manager will be assigned to you for direct communication or if you will need to resolve your queries via a common mailbox or IVR. Moreover, the best Financial Services companies have an omnichannel transaction platform and dedicated query resolution specialists at the client’s disposal. This is what you should be looking for, ideally.

In Summation

Clearly, the above list is not exhaustive, and there might be several other questions you would want to ask. The essence is to establish clearly the ideal Financial Services company for your needs. The Ashika Group provides several financial services like Investment Banking, Wealth and Fund Management, Lending, and Retail Broking across commodities, currencies and stocks. Their mobile app, Dhanush, provides a multi-channel investing experience to access multiple asset classes on a single platform. With almost three decades of experience, it has market-wide recognition and credibility. As is evident, it positively checks all the relevant questions as mentioned above to identify the best Financial Services companies in India.

Also Read: Find Best Stock Market Broker in India For Share Trading

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