Pune-resident Gaurav Sakhardande’s first step towards finance was not that of getting an adviser, but to study for it himself. “I wanted to do some type of a certification (course) after which I could give personal financial advice myself. But I realised that it’s not simple because there are many regulations in place,” said Gaurav. Instead, he came across a group of fee-only advisers online. His search led to Chandan Singh Padiyar, who was also based in Pune. “Location was important for me as I wanted to meet the person,” said Gaurav. He also wanted a planner who was registered with the Securities and Exchange Board of India (Sebi) “because I didn’t know the person myself.”
Gaurav was sure that he wanted advice from a fee-only planner. “I thought that if the fee is fixed, I won’t think about ‘hiding’ my investments,” he said. What he meant was that if there is a fixed fee, then the amount being invested doesn’t matter—whether it is a lot or a small amount, the planner’s fee remains the same.
