Wealth management: The advisor portfolio
Kartik Jhaveri: Jan 21 2013, 00:49 IST
cannot be replaced but you must speak to a handful of planners to understand each ones way, style and methodology of work and, most importantly, how comfortable you might be with his/her approach. Remember this is going to be your most important and lifelong relationship. Take you time to sign up with one, but be certain that you are satisfied with the person. There are a few things that can be taken for granted here: It is most likely that you will not be mis-sold anything, relationship will be lifelong, advise will be in your interest and there will be transparency. It might be even better if the person is not attached to any one company like an insurance agent. This, however, may not be evident so better check this before signing up.
Life Insurance Agent: We need to shop really hard here as we could be misled so easily. This happens almost like routine. They know a lot about insurance, many of them will be experts and while that is an advantage, it is also an inherent disadvantage as insurance is all that they know. You could land up paying a huge amount of premium and have little benefit from the policy itself. A simpler way is that you could have a financial planner who is unbiased and you could then use your chosen life insurance agent to do your product purchases. This is tricky as most financial planner would be agents as well, so check before you take the
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