List of Fee-only Financial Planners in India

Here is a list of SEBI registered fee-only financial planners in India. A fee-only planner is someone who charges a fee for financial plan creation and advisory and does not receive any kind of commissions/incentives from mutual fund houses, insurers or other financial product sellers. Financial advice is provided and clients are expected to take necessary action on their own.

Scroll down to the bottom of the post to access the list.

A fee-based planner receives a fee for financial advisory and also receives commissions from fund houses and/insurers etc. for the products he/she recommends. The investment is done through the planner. Typically, clients would be ‘gently’ dissuaded from investing on their own often with flimsy excuses. As with anything in life there are exceptions to this typical behaviour. Unfortunately, exceptions do not make good examples.

As per SEBI Advisor regulations An investment adviser shall not receive any consideration by way of remuneration or compensation or in any other form from any person other than the client being advised, in respect of the underlying products or securities for which advice is provided.

Therefore, financial planners should not receive commissions by distributing mutual funds and any investment or insurance products they recommend to clients. That is, it is illegal to practice fee-based advisory.

The idea is to avoid the conflict of interest that inevitably tags along with commission-based product recommendation.

Unfortunately, many fee-based financial planners have chosen to ignore this regulation. Some have shifted their distribution business in the name of a family member.

This problem was discussed in detail in my previous post: What You Need To Know Before Hiring a Financial Advisor

no commissions

 

In that post I had urged readers to choose fee-only planners over fee-based planners and mentioned that, I maintain a list of fee-only planners that I would share on request.

I did not post the list of fee-only planners in that article because I wanted to check for myself if there is a demand for clean paid-advisory. I figured, if there is a demand, it would encourage more such requests.

There is clearly a demand! I have sent that list to over 50 people and still continue to receive requests. Please look at the comments in that article to understand what I referring to.

The message is clear: The number of people who seek paid-advisory may be small but among that small number, people who seek paid-advisory free from conflict of interest is a majority!

If I, with my insignificant blog can generate a non-zero interest in fee-only planning. Imagine what would happen if this is advertised on a wider scale? Of course, that is unlikely to happen for obvious reasons!

No matter. I am a fan of fee-only financial planners. I think it takes guts and confidence to choose a different path and say ‘no’ to product distribution.

Before I present the list, I request you to consider the following points presented in the form of an FAQ.

1. Are you saying fee-only planners are the only ‘clean’ planners in financial services?

NO. I am saying that that obvious conflicts of interest associated with commission based advisory are absent in fee-only advisory. Therefore, it is relatively cleaner.

Yes, yes, there are fee-based planners genuinely interested in their clients welfare etc. The trouble is with finding one!

2. I am already engaging the services of a fee-based planner. Should I shift to a fee-only planner?

NO. You might want to shift to direct mutual funds though. Discuss with your planer and observe his/her response carefully. You will understand what I mean better!

3. Are you saying that fee-only planners have no conflict of interest?

I have heard a lot of psychobabble about how human beings have some conflict of interest or other, blah blah! Unfortunately, the babble has emanated from fee-based planners! So I refuse to take it seriously!

From what I know, you need three entities to have a conflict of interest. For a fee-based planner it the individual, client and fund house (or insurer).

For a fee-only planner, it is just him/her and the client. Therefore ____ (Please fill in the blank. 2 marks!)

4. Are you endorsing the members in the list?

Yes I an endorsing their stand that commission-based advisory leads to conflict of interest. I applaud their confidence to not jump into band-wagons (easily 95%+ of advisory will be commission-based). I believe their stand should be supported.

I have interacted with the planners over email and confirmed that they do not distribute mutual funds. I cannot comment on their individual competence. However, if I wanted professional advice, I will go to one in this list. For I believe the confidence to not jump into bandwagons has non-zero competence tagged with it.

5. Are you receiving any kind of money from the fee-based planners for publishing this list?

No. That would be dumb! It goes against the whole idea of removing the third party!

6. Whom should I choose from this list?

Choose a planner in your town or city. I think face-to-face contact is very important. If this is not possible, go for online advisory.

Instead, If you can find a fee-based planner in your city, who has no issues with your investing directly, go for it!

7. There are many fee-based planners who encourage clients to invest directly if they wanted to. Why have you not included them in this list?

Matter of policy! Tough call for me as some of those guys are people who I can refer to as friends. They have helped me in many ways at some point or the other with the blog and calculators.

I will include them in this list only if their clients suggest it.

8. I am surprised to find that some famous bloggers who offer services are missing from the list! Why is this so?

Yes me too! The most likely reason for is that they are fee-based planners or receive some sort of remuneration from distributors.

9. Is there anything that I should do before engaging the services of planners in this list?

Due diligence! Check out their website, ask for previous client-details, speak to a couple of them, and then decide.

10. I am fee-only planner or I know of a fee-only planner. Can you add them to this list?

With pleasure! Please send me contact details. I will contact the planner via email, confirm their profile and add them to the list. A link to this list can found at all times at top right side of the blog.

11. Why did you make readers email you for the list if you had intended to publish it?

Apologies. This list is being published only because so many of you requested it! Nb. People who asked for it the earliest may find one or two new names in it.

12. I can do my own financial planning. Why do I need this list?

Sure why not! You might want to read this first though: What does it take to do your own financial planning?

 

Without further ado,

Updated: 17th Aug 2018

Note: I recommend hiring a planner seeking a flat fee and not a fee as % of your assets.

The names are arranged in random order.

Note: Members of this list suggest only direct mutual fund plans and do not ask you to invest via them or their friends or relatives. If you find out that this is happening, please inform me.

Request: If you have engaged the services of these planners and are satisfied, do refer them to your contacts. This is the least we can do to promote fee-only advisory.

I would also appreciate if you send me an email narrating your experience.

This list is pathetically short! Please promote fee-only advisory so that it becomes a viable career option.

Someday I hope fee-only advisory thrives in India (no harm in dreaming right!). If and when that happens, do spare a moment to think of a nut case named ‘pattu’!

The freefincal list of fee-only financial planners

Location does not matter! These planners work with clients from all over the globe and it is perfectly possible to work online. If you want some testimonials, see: Here is why you can safely consult a fee-only advisor living in another city

  1. Melvin Joseph: finvin.in
  2. Shilpa Wagh waghfinancials.com
  3. Vikram Krishnamoorthy insightful.in
  4. Piyush Khatri* sahastha.com
  5. Chandan Singh Padiyar padiyars.com
  6. Swapnil Kendhe vivektaru.com
  7. Brijesh Vappala bvare.com
  8. Soubhagya Kumar Patra succinctfp.com
  9. Basavaraj Tonagatti basunivesh.com
  10. Avinash Luthria fiduciaries.in
  11. Jitendra Solanki* jsfadvisors.com
  12. Sudheer Variar M Prasidhi.in

* Jitendra has an AUM linked fee above a threshold

* Piyush charges a flat fee for portfolio less than ₹50 lakhs (excluding real estate and investment in EPF) and % of portfolio based fee above that value

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215 thoughts on “List of Fee-only Financial Planners in India

  1. Dear Pattu for all those who still require a advisor cum executor please do suggest my name!!!!

  2. Dear Pattu for all those who still require a advisor cum executor please do suggest my name!!!!

  3. Thanks dear Pattu, not only for supporting the infant financial planning profession, but for trying to make the financial advisory picture more clear for the investors. Your strong & unbiased views, may these be on 'fee-only financial planners' or 'mutual fund advisers' or any other constituent, will go a long way in properly guiding your readers.

    During a few conversations amongst advisers on social media, over the topic of a viable financial planning model, I have tried to present the side of fee-only model as being rich in commitment though poor in revenue in the short term. It was two years back when before starting, I checked some of the websites of financial planners globally and found only the "fee-only" model as the most appealing. This was because I felt this model as being most close to making financial planning a true profession by (as you say) being devoid of any conflict of interest.

    First the SEBI's IA Regulations, and then your write-up, are being a 'good initial return' on our 'emotional investment' made for the long term in our dear profession. Thanks!

  4. Thanks dear Pattu, not only for supporting the infant financial planning profession, but for trying to make the financial advisory picture more clear for the investors. Your strong & unbiased views, may these be on 'fee-only financial planners' or 'mutual fund advisers' or any other constituent, will go a long way in properly guiding your readers.

    During a few conversations amongst advisers on social media, over the topic of a viable financial planning model, I have tried to present the side of fee-only model as being rich in commitment though poor in revenue in the short term. It was two years back when before starting, I checked some of the websites of financial planners globally and found only the "fee-only" model as the most appealing. This was because I felt this model as being most close to making financial planning a true profession by (as you say) being devoid of any conflict of interest.

    First the SEBI's IA Regulations, and then your write-up, are being a 'good initial return' on our 'emotional investment' made for the long term in our dear profession. Thanks!

  5. Your best post till date! 🙂 At least I enjoyed reading it most! Person like you is always rare in our society who dares to call a spade a spade and at the same time who is a dreamer and doer. Best wishes for you.

  6. Your best post till date! 🙂 At least I enjoyed reading it most! Person like you is always rare in our society who dares to call a spade a spade and at the same time who is a dreamer and doer. Best wishes for you.

  7. This is wonderful! What a superb way to encourage fee-only planners! May their tribe increase 🙂

  8. This is wonderful! What a superb way to encourage fee-only planners! May their tribe increase 🙂

  9. Dear Mr. Pattu,
    Thanks for the wonderful article and your faith in the 'rare breed' of Fee-only financial planners!

    Just to share with you, when I was planning to start my practice as a financial planner, I did a survey of about 40-50 families in Gurgaon-NCR. I spoke to them about their perception of 'personal finance', how they take their financial decisions, how do their families participate and whom do they look for support/guidance regarding their money matters.

    The results were very disappointing!!

    Most of them were taking ad hoc decisions, in most of the families only one person(read male members) were taking all decisions and personal finance meant 'Investments' only…or sometimes taking home loan!
    Almost all of them were dependent o their insurance/ mutual fund agents or in some cases relationship managers from bank to guide them…guidance resulting in sale of insurance cum investment plans mostly (Well now… its a joke which I share with all my clients…as to how many policies do they have? and believe me they all smile sheepishly and start producing the policies !!)
    Their was lack of trust as well particularly when their money was not 'doubled' or increased as per the promises made by the agents. and the end result was the under confidence in the families about their money matters!
    So I decided NOT to add anymore to this chaos and go for Fee-only practice. Also, I realised that it is not always that the advisers were to be blamed but some part of blame goes to these people also …they slog day and night to earn money and do not want to spare even a single day in the year to 'take care' of this money. Some of them even signed papers without reading! I strongly felt that this has to be changed and hence started my blog and workshops.
    I am doing my little bit…and like you I am also dreaming to have Fee-only financial planning to be accepted and thrive in our country!!

    Thanks once again!

  10. Dear Mr. Pattu,
    Thanks for the wonderful article and your faith in the 'rare breed' of Fee-only financial planners!

    Just to share with you, when I was planning to start my practice as a financial planner, I did a survey of about 40-50 families in Gurgaon-NCR. I spoke to them about their perception of 'personal finance', how they take their financial decisions, how do their families participate and whom do they look for support/guidance regarding their money matters.

    The results were very disappointing!!

    Most of them were taking ad hoc decisions, in most of the families only one person(read male members) were taking all decisions and personal finance meant 'Investments' only…or sometimes taking home loan!
    Almost all of them were dependent o their insurance/ mutual fund agents or in some cases relationship managers from bank to guide them…guidance resulting in sale of insurance cum investment plans mostly (Well now… its a joke which I share with all my clients…as to how many policies do they have? and believe me they all smile sheepishly and start producing the policies !!)
    Their was lack of trust as well particularly when their money was not 'doubled' or increased as per the promises made by the agents. and the end result was the under confidence in the families about their money matters!
    So I decided NOT to add anymore to this chaos and go for Fee-only practice. Also, I realised that it is not always that the advisers were to be blamed but some part of blame goes to these people also …they slog day and night to earn money and do not want to spare even a single day in the year to 'take care' of this money. Some of them even signed papers without reading! I strongly felt that this has to be changed and hence started my blog and workshops.
    I am doing my little bit…and like you I am also dreaming to have Fee-only financial planning to be accepted and thrive in our country!!

    Thanks once again!

  11. Nice details Shilpi. I agree, there is tremendous value which people can gain in personal finance but don't realize it exists. Probably, if fee-only FP can help them it will be great. I wish you and all of other FP to actually help people see this value and benefit

  12. Nice details Shilpi. I agree, there is tremendous value which people can gain in personal finance but don't realize it exists. Probably, if fee-only FP can help them it will be great. I wish you and all of other FP to actually help people see this value and benefit

    1. Is this how you normally talk to your wife?

      I’m all for fee-only Financial Planners but your cheap camouflaged attempt to promote them could’ve been avoided!

  13. Great article.. Being from Chennai (I know you are also from Chennai), I am surprised no Chennai based Fee-only planner made it to your list (yet).. Has this concept not yet caught up in south?

  14. Great article.. Being from Chennai (I know you are also from Chennai), I am surprised no Chennai based Fee-only planner made it to your list (yet).. Has this concept not yet caught up in south?

  15. Thank you for sharing Ms Johri. It takes extraordinary conviction and courage to choose a different path and make a stand. Commission-based selling can never be holistic by definition. Thanks again and wish you and all fee-only planners the very best in the future.

  16. Thank you for sharing Ms Johri. It takes extraordinary conviction and courage to choose a different path and make a stand. Commission-based selling can never be holistic by definition. Thanks again and wish you and all fee-only planners the very best in the future.

  17. 1.Do the feeonly planners you have suggested offer advice on direct equity investment also in addition to mutual fund investments?
    2.You have included only individuals in the list.There are many more fee only companies like Saralgyan,Equity Master etc .who offer similar services.Why have you omitted them from your list.?
    Recently I have started to subscribe for the services of such companies.The subscription fee is modest. After a few months of staying with them I will give full details.Have any of your readers tried them?

  18. 1.Do the feeonly planners you have suggested offer advice on direct equity investment also in addition to mutual fund investments?
    2.You have included only individuals in the list.There are many more fee only companies like Saralgyan,Equity Master etc .who offer similar services.Why have you omitted them from your list.?
    Recently I have started to subscribe for the services of such companies.The subscription fee is modest. After a few months of staying with them I will give full details.Have any of your readers tried them?

  19. Some of them might. One would need to check with them. These are fee-only financial planners. You are referring to firms that offer stock recommendations and I think we will need to differentiate between the two. Look forward to getting your feedback about these firms. I have not heard from others in this regard. Basant Maheswaris The Equity Desk is also something you can consider.

  20. Some of them might. One would need to check with them. These are fee-only financial planners. You are referring to firms that offer stock recommendations and I think we will need to differentiate between the two. Look forward to getting your feedback about these firms. I have not heard from others in this regard. Basant Maheswaris The Equity Desk is also something you can consider.

  21. Thanks Dear Pattu for the writeup on fee only planners.

    Fee only planning is still at a very very nascent stage for many good reasons but the future is certain. The challenges of any profession are always heartly accepted. What one need is a determination and passion to sail through these challenges. I am a firm believer that SEBI regulations has come at the right time for fee only planners.

  22. Thanks Dear Pattu for the writeup on fee only planners.

    Fee only planning is still at a very very nascent stage for many good reasons but the future is certain. The challenges of any profession are always heartly accepted. What one need is a determination and passion to sail through these challenges. I am a firm believer that SEBI regulations has come at the right time for fee only planners.

  23. Thank you dear Pattu for this post. I salute your efforts in creating awareness about fee only financial planners, a rare breed in our country. I am sure your post can help many investors in planning for their financial goals. Thank you for supporting us too.

    1. Actually salutations are due to you and all feel-only planners for having the courage to stay away from distribution and recognising the true meaning of conflict of interest. Thank you.

  24. Thank you dear Pattu for this post. I salute your efforts in creating awareness about fee only financial planners, a rare breed in our country. I am sure your post can help many investors in planning for their financial goals. Thank you for supporting us too.

    1. Actually salutations are due to you and all feel-only planners for having the courage to stay away from distribution and recognising the true meaning of conflict of interest. Thank you.

  25. An excellent artilcle! . The concept of Financial Planning is in the nascent stage. In fact, every MF & Insurance Co looks for people to sell their products rather than looking for financial planners, perhaps with some rare exceptions. It is true selling an insurance is not easy.More over, the sale of MF and Insurance have been around and have been able to create an association and rapport with their clients and the concept of Financial Planning is yet to gain strength. Perhaps things could improve in the days to come

  26. An excellent artilcle! . The concept of Financial Planning is in the nascent stage. In fact, every MF & Insurance Co looks for people to sell their products rather than looking for financial planners, perhaps with some rare exceptions. It is true selling an insurance is not easy.More over, the sale of MF and Insurance have been around and have been able to create an association and rapport with their clients and the concept of Financial Planning is yet to gain strength. Perhaps things could improve in the days to come

  27. Dear Fee only financial planners ,

    I wish to invite you to put our thoughts together to form an association like the National association of Personal financial planners ( http://www.napfa.org/) ( USA) in India . You can read about National Association of Personal financial advisers from the below link.
    http://www.napfa.org
    http://en.wikipedia.org/wiki/National_Association_of_Personal_Financial_Advisors

    In essence the NAPFA is an association of fee only RIA who have no kind of commission or selling arrangements. They hold on to the position of fiduciary and maintain the highest standards in FP industry. They have a distinct identity and membership evokes respect among the investing public .The public knows that the association represents the professional of fee only financial advisers.

    The membership is open to only fee only financial planners (RIA) and they should have no arrangement of any commissioned sales direct or indirect. They will have to take a fiduciary oath. They are peer reviewed before admission.
    The NAFPA is a 30 year old body and commends the highest respect among the investing public. It has only around 3000 members.
    Why do we need this?
    India is in the same position as the US 30 years before.
    Kinds of advisers in India
    1)In india we have distributors claiming to be advisers in direct violation of the SEBI law , using fancy titles like financial planner, advisers, consultant and so on . All this are aimed at fooling the public in making them believe that they dispensing financial advice whereas they are actually product sellers. They do not hold to fiduciary responsibility or liability to the public .

    2) We have CFP es doing advice and distribution without registering with SEBI this is the vast majority , the FPSB has around 2000+ CFPes and hardly 70 would have registered with SEBI.

    3) We have an another category o people who are in advisory business who are SEBI registered who have separated their distribution business in their fathers/spouces / brother/partners/ home pets name and still continue with the old business as usual . We can imagine what kind of arrangements these would be.
    One hand gives advice and other hand distributes financial products. There might be a Chinese wall to camouflage the arrangement .These conflicted arrangements are bad in law and bad in sprit.

    All these are conflicted arrangements only serving to benefit the distributer. Customers are ultimate losers in this game.

    It is for this reason that an association like NAPFA is advocated for people who do fee only financial planning.

    This is a new category of people who are fee only and dont have any kind of sales arrangement and uphold the fiduciary position in letter and spirit . These guys are finding it difficult to position themselves among the above mess that is called advisory business. The public does not know whom to trust.

    It is for these people I am advocating the formation of an association like NAFPA, we can call this Indian association of fee only investment advisers (IAFOIA) . The people who qualify for this will not be more than a 10 people all over India right now.
    1) They need to be registered with SEBI as RIA
    2) They should not have a have any distribution arrangements past (the association needs to be sure that commissions’ are not passed other arrangements) or present in whatever form where commissions are passed to them or to their family members or associates.
    3) They should sign an oath of fiduciary that is similar to NAPFA.
    4) The members will be expelled if the above conditions are violated.
    5) This strict stand is required as the public believes that the members have no conflicted positions .If the credibility of the members are questioned then the whole credibility of the associated is in question and will fall out of public grace .
    6) The organization members use exclusive logo es that are the property of the association that shows they are members of the association . This is a trade mark of the organization and is given for members in good standing ( like your CFP certification)

    The main aims of the association would ne
    1) Educate the public on the conflicted position between adviser and seller.
    2) Promote the fee only FP profession.
    3) Take up with regulators the mis use of the term Advisers , or any other term that is used to fool people to believe that they are advisers
    4) Form a interest group and liaison with the regulators to hear their view separate from the conflicted seller.
    5) run promotions or create a branding like the http://www.focuson fiduciary.com which NAPFA sponsors so that public knows whom to trust .

    This is just an initial start and I have created a linkedin group called fee only financial planners , please join this and we ill take this forward.

    There is a world of difference between a seller (distributor) and adviser (who is a fiduciary) , the fee only profession cannot take their business forward unless they position themselves as distinct group.

    Your comments are welcome

    Biju behanan CFP^CM
    Founder & Principal Planner
    Finwell India
    http://www.finwellindia.com

    1. Dear Biju, although I support your Idea in principal but the current numbers of actual Fee only planners suggest that it ‘ll be more like a family kind thing. I’m not a financial planner or advisor or coach (whatever fancy names people want to attach, are free to use) but whatever little bit of interaction I do have with retail investors, we should first focus on to increasing the number of Fee only planners/advisors.

      Thanks

      Ashal

  28. Dear Fee only financial planners ,

    I wish to invite you to put our thoughts together to form an association like the National association of Personal financial planners ( http://www.napfa.org/) ( USA) in India . You can read about National Association of Personal financial advisers from the below link.
    http://www.napfa.org
    http://en.wikipedia.org/wiki/National_Association_of_Personal_Financial_Advisors

    In essence the NAPFA is an association of fee only RIA who have no kind of commission or selling arrangements. They hold on to the position of fiduciary and maintain the highest standards in FP industry. They have a distinct identity and membership evokes respect among the investing public .The public knows that the association represents the professional of fee only financial advisers.

    The membership is open to only fee only financial planners (RIA) and they should have no arrangement of any commissioned sales direct or indirect. They will have to take a fiduciary oath. They are peer reviewed before admission.
    The NAFPA is a 30 year old body and commends the highest respect among the investing public. It has only around 3000 members.
    Why do we need this?
    India is in the same position as the US 30 years before.
    Kinds of advisers in India
    1)In india we have distributors claiming to be advisers in direct violation of the SEBI law , using fancy titles like financial planner, advisers, consultant and so on . All this are aimed at fooling the public in making them believe that they dispensing financial advice whereas they are actually product sellers. They do not hold to fiduciary responsibility or liability to the public .

    2) We have CFP es doing advice and distribution without registering with SEBI this is the vast majority , the FPSB has around 2000+ CFPes and hardly 70 would have registered with SEBI.

    3) We have an another category o people who are in advisory business who are SEBI registered who have separated their distribution business in their fathers/spouces / brother/partners/ home pets name and still continue with the old business as usual . We can imagine what kind of arrangements these would be.
    One hand gives advice and other hand distributes financial products. There might be a Chinese wall to camouflage the arrangement .These conflicted arrangements are bad in law and bad in sprit.

    All these are conflicted arrangements only serving to benefit the distributer. Customers are ultimate losers in this game.

    It is for this reason that an association like NAPFA is advocated for people who do fee only financial planning.

    This is a new category of people who are fee only and dont have any kind of sales arrangement and uphold the fiduciary position in letter and spirit . These guys are finding it difficult to position themselves among the above mess that is called advisory business. The public does not know whom to trust.

    It is for these people I am advocating the formation of an association like NAFPA, we can call this Indian association of fee only investment advisers (IAFOIA) . The people who qualify for this will not be more than a 10 people all over India right now.
    1) They need to be registered with SEBI as RIA
    2) They should not have a have any distribution arrangements past (the association needs to be sure that commissions’ are not passed other arrangements) or present in whatever form where commissions are passed to them or to their family members or associates.
    3) They should sign an oath of fiduciary that is similar to NAPFA.
    4) The members will be expelled if the above conditions are violated.
    5) This strict stand is required as the public believes that the members have no conflicted positions .If the credibility of the members are questioned then the whole credibility of the associated is in question and will fall out of public grace .
    6) The organization members use exclusive logo es that are the property of the association that shows they are members of the association . This is a trade mark of the organization and is given for members in good standing ( like your CFP certification)

    The main aims of the association would ne
    1) Educate the public on the conflicted position between adviser and seller.
    2) Promote the fee only FP profession.
    3) Take up with regulators the mis use of the term Advisers , or any other term that is used to fool people to believe that they are advisers
    4) Form a interest group and liaison with the regulators to hear their view separate from the conflicted seller.
    5) run promotions or create a branding like the http://www.focuson fiduciary.com which NAPFA sponsors so that public knows whom to trust .

    This is just an initial start and I have created a linkedin group called fee only financial planners , please join this and we ill take this forward.

    There is a world of difference between a seller (distributor) and adviser (who is a fiduciary) , the fee only profession cannot take their business forward unless they position themselves as distinct group.

    Your comments are welcome

    Biju behanan CFP^CM
    Founder & Principal Planner
    Finwell India
    http://www.finwellindia.com

    1. Dear Biju, although I support your Idea in principal but the current numbers of actual Fee only planners suggest that it ‘ll be more like a family kind thing. I’m not a financial planner or advisor or coach (whatever fancy names people want to attach, are free to use) but whatever little bit of interaction I do have with retail investors, we should first focus on to increasing the number of Fee only planners/advisors.

      Thanks

      Ashal

  29. It is very lucrative to have a advice from financial planner they will help us in every aspect and it is really important to take advice before investing your valuable assets

  30. It is very lucrative to have a advice from financial planner they will help us in every aspect and it is really important to take advice before investing your valuable assets

  31. Pattu sir, as i was going thru soubhagya kumar patra website succinct financial planners, i just want to confirm can they do income tax and accounts work and allied works under the fee based financial planning licence.

    1. Soubhagya know his tax rules. I do not know if they are qualified to file returns. You will have to check with them. As such, my understanding is, the financial planning degree does not cover this but they are sure to have additional qualifications. Please check with them.

  32. Pattu sir, as i was going thru soubhagya kumar patra website succinct financial planners, i just want to confirm can they do income tax and accounts work and allied works under the fee based financial planning licence.

  33. I think above list is not complete.

    Even I am Fee Only Investment adviser registered with SEBI but I didn’t find my name in above list.

    Mayur Shah

    Ocean Wealth Solutions

    1. I never said that it is complete. I will be happy to include your name in the list, provided you or your family members do not distribute mutual funds, insurance or any other financial product.

      1. Thank you for your reply,

        As on date no one from my close family is doing any distribution business but in future they may, but again its completely up to client whether to use it or not.

        Regards,

        1. I am sorry. I am afraid that will not quite make the cut. I know many financial planners who fit your profile who are not in the list. I am against even offering distribution as choice to the client. Kindly excuse me.

  34. Dear Pattu Sir,

    Do you know of any Fee based planner in Pune? Kindly, let me know.

    Regards,
    Anjani

    1. Dear Anjani,is it fee based or fee only planner you are asking for. In case of fee based, the list is available with FPSB India.

      Thanks

      Ashal

    1. I see that you offer an online retail mutual fund account. So by policy I cannot include you in this list. I am sorry.

  35. Dear Pattu Sir, any recommendations for financial planners in Hyderabad? I have a dumb question as well, can we trust the planners with sharing all our financial details about our earnings?

    1. Yes you can trust the planner. The planner will not take any earnings from you (other than a fee). The investments will only be done in your name. I don’t know anyone in Hyd. Suggest you consult one of them listed here via email and then perhaps over Skype and get your plan done.

  36. This is a good post. Can you pls recommend a good ‘fee only’ financial planner in Delhi?

  37. Hi

    I initially relied on Arthos Arthayantra(mistook them for fee only financial planners). During initial discussion was told that I can individually plan my own investments as per their advise. Later after enrolment and financial plan discussion, I am being compelled by them to invest through them only. ( I had planned to invest as per their recommendation in direct plans of Mutual funds ).

    Can a financial planner force the client to invest through them?? ( The NDA provided them , there is no clause that I have to invest through them )

    I feel the dream of fee only financial planners is not successful as there is no transparency when the financial planner deals with the client. During the initial discussion they repeatedly evade the question of whether we are free to invest in some other platform .

    1. Dear Deepak, at least the above listed fee only planner ‘ll only prepare and discuss your plan with you and you are fully free to implement it from your own choices ( in terms of investment).

      thanks

      Ashal

  38. Sir, would like to know any fee only planner in Salem. Also want to know whether Basu Nivesh from Bangalore is in your list.

    1. Please contact one of the people listed here. They will offer online advisory. Unlikely to find a fee-only planner in salem. Basu is not part of this list.

  39. Hi Pattu

    Nice article.

    but the list is very short. Most of the people are either from North and West.

    Difficult for South Indians to get one in their city.

    I would suggest to add more people from every region.

    1. I know of several planners from different parts of the country. Trouble is that they are not fee-only planners. Unless I am personally convinced that they fee-only planners, I will not add them here. I don’t think investors are worried that the list is short. These guys can consult online.

  40. I just happened to see this post. Respectfully, I would like to suggest that for anyone looking for an adviser, the list of Registered Investment Advisers on SEBI’s website is a reasonable starting point. I understand the point you make about the issue of arms length distance. Nevertheless, when you look at the regulations in totality, anyone who has registered can logically be expected to have tremendous belief in one’s competence, and to be committed to a rigorous set of processes and levels of transparency. The reasons for some doing what you perceive to be a mockery of the spirit of having arms length distance may not be immediately easy to understand. For many, it is to service existing clients or to offer a choice for prospective clients who are uncomfortable with the idea of paying a fee.

    No adviser can force or persuade a client to execute through him/her. The length of SEBI’s list offers a lot of choice to shortlist potential advisers. There is of course no substitute to asking tough questions of anyone we shortlist to determine the suitability of an adviser.

    On another level, I take the liberty of suggesting that while Caveat Emptor applies, we can get much more in life by assuming others are innocent until proven guilty.