News From Press As portfolios swell, investors seek second opinion to ensure financial well-being

As portfolios swell, investors seek second opinion to ensure financial well-being

Source: Economic Times Sep 14, 2017

Second opinion, a term mostly used in the context of medical treatment, is increasingly finding relevance in the world of investing too. As the stock market rally enters its fifth year, investors who have stuck to the recommendations of one financial advisor are seeking a second opinion to fine-tune their investment portfolio to the need of the hour.

Take the case of Yusuf Dohadwala, a 60-year old businessman based in Mumbai. He has been investing in equities through mutual funds for the past five years and has an investment portfolio worth Rs 2 crore, managed by a foreign bank. But recently Dohadwala felt the need of getting his portfolio reviewed by an independent advisor because he put money only in that hand ful of schemes his bank sold. Also, his portfolio has been handled by three relationship managers in the five-year period. He wanted to know if his portfolio had the best products.

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1 Comment
Prashant · 9 months ago
In case of banks there should not only be second opinions but one should remive the portfolios and give it to a IFA(Distributor) because banks are the biggest missellers in our country. Banks should be banned from selling third party products. One example is i recently was contacted by an investor whise portfolio is managed by a bank("wealth management" team) and they come every year and give redemptions and then invest the money in other schemes. This is in August 2017, imagine? They have given him 80% closed ended funds. Now tell me what to do with the banks.
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