The financial distribution industry is in churn with tighter regulations and the advent of robo advisors. In an email interview, Sanjay Sachdev, the Global Chairperson of the Financial Planning Standards Board (also Chairman of Zyfin Holdings), shares his views on the outlook for financial planners in India.
What should a retail investor look for in his financial planner?
Seven characteristics play an important role in financial planner selection: honesty and integrity, understanding my needs and goals, placing my interests first, providing me with relevant, timely information using plain language instead of financial jargon, helping me to keep goals on track and helping to create actionable plans. Of course, there may be other factors too beyond these, such as fee structures, execution strategies and product innovation.
Are robo-advisories posing a threat to human financial planners? How are financial planners equipping themselves?
