BUYERS BEWARE
 
This Section ALERTS the Investor against malpractices in the financial services industry  
Beware of your neighbourhood commission Agent
No, do not get me wrong. I have nothing against the insurance agent. But we are strictly against commission based selling that does not consider the unique needs & goals of the client but is concerned only with selling to achieve ones own financial target.

Please ensure that your Insurance agent has the following qualities before you oblige him:

1. He is financial qualified enough to render proper financial advice
2. He has enough experience & knowledge of the product that he is selling you
3. He is transparent about his commission income that he would get by selling that policy to you
4. He also recommends pure insurance products like Term Plans rather than only selling you investment products that are very costly
5. He does not merely sell ULIP products to you.
6. He has basic advisory capacity and is not a mere commission agent Oblige your Insurance agent only if he satisfies all the above.
 
 
Mr. Nirav Panchmatia, the founder CEO & Chief Strategist of "AUM Financial Advisors" is a Mutual Fund Expert, Financial Planner & Wealth Manager. He is a CA & MBA Finance from Narsee Monjee (NMIMS), Mumbai having spent last 8 years in Mumbai working in leading financial institutions like Citigroup, ICICI Bank, IRIS, Quantum Group etc. A keen observer of events and trends, he writes in a lucid yet readable style and takes up issues on behalf of the Indian Individual Investor. He also regularly conducts financial literacy seminar. The above article is meant for general reading only)


Disclaimer:

The views mentioned above are of the author only. Data and charts, if used, in the article have been sourced from available information and have not been authenticated by any statutory authority. The author and AUM Financial Advisors do not claim it to be accurate nor accept any responsibility for the same. The views constitute only the opinions and do not constitute any guidelines or recommendation on any course of action to be followed by the reader. Please read the detailed Terms of Use of the web site. © AUM Financial Advisors
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