Indians hate paying for financial advice, even when referred to a good adviser. Every other day, I receive calls from people who want financial advice but are not willing to pay for it. Take the case of Shobhit, 50, whose child has just joined medical studies. Shobhit wanted to exit his Public Provident Fund (PPF) and invest it in equity funds. He did not take a loan for his son’s education and felt equity funds could be a good way to increase the education corpus. His view was that PPF was returning 7.1% per annum (p.a.), whereas equity funds could give him 13-14% p.a. returns in the next two years.
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