bhavya bisht

What are the common myths about Financial Plannerss and their work?

Please help me out

by bhavya bisht
2 answers
| Share :

2 answers

RE: What are the common myths about Financial Plannerss and their work?


@vaibhavbhutra @meghnamukherjee Can you reply bhavya's query?

RE: What are the common myths about Financial Plannerss and their work?

Meghna Mukherjee
Meghna Mukherjee
Verified Career Expert
Counselor at Adaptive Minds
  • Mumbai

Pretty interesting question.

But before I answer this question, I would like to know why exactly did this question arise in your mind???

Generally when students think of a career, they are generally focused on what position, where they can work, future prospects etc.
But knowing the myth about a profession is something unique you thought about.

Anyways please note that every profession is surrounded by myths,because these days no one can be trusted.
And this being a Financial area, obviously it is the most non-trusted area.

As you might be aware that as Financial planners, your main role would be Financial advisory to investors for the proper growth of their funds. Since there are many methods to choose from, a Financial planner can be of help here.

Now when it comes to Finances, wont you like to be more cautious, or would you surrender it in the hands of an unknown planner.
So here is the 1st Myth: He is an unknown person, he would definitely not understand my issues. How can i trust him????
What I mean here is that investors instead of trusting the knowledge begin to follow the persons identity.

Secondly, as we know market or any company looks majorly for profit. Thus comes the 2nd myth, he is asking me to invest in XYZ, because if the company makes a profit, they will also make profit

Thirdly, when people work in an organization and especially in a marketing kind of profile, other than salary, their other source of income is getting a share or percentage of their investment.
So here comes the 3rd Myth, he is forcing me into this financial planning since he has and will earn his profit margin

Last, is we have been always taught to be aware of people who talk a lot, as it is the means for them to be convincing and sell a product, as they would touch the sentiments of an individual.
So here comes the 4th myth, When planners speak, they will always show us how the plans would be beneficial to us based on our sentiments and sell us their product.

Anyways, please note that these though are flaws, mainly when it comes to the financial sector, because after all it is our hard earned money. That is why it is said that, you need an advisor, but one needs to be thorough with their research and market study.
As the tag line goes," Investments are subject to market risk, please read the offered documents clearly before investing"

So it is not bad to take advise from a Financially sound person, but at the same time, one needs to be aware of the markets themselves and not follow planners blindly. Follow them blindly, and then begins the question of myth.

Hope this answers your query.

Wish you good luck.................

In order to post replies to the question: "What are the common myths about Financial Plannerss and their work?"

Post Reply


What can I do after BDS? What are the different entrance exams that I can go for?

Dear Deepak,   Below provided is a list of prominent entrance exam on an All India level for MDS NEET MDS entrance examination All India PG Degre .. read more

What can I do after BDS? I want to become a scientist

Dear Deepak, Dental scientific programs are mainly seen in foreign countries with India having only very few courses in it. Bangalore institute of den .. read more

Procedure to get admission in M.Tech programs at Jamila Millia Islamia

Dear Milin,   The method of choice for the non sponsored candidate will be as per the following: Every one of the applications got will be s .. read more

In a "A Self Career Counselling Guide" you have provided biotech and biomedical engineering option under PCB students but it requires maths as compulsory subject so how can I say you guided me right?

Hello Atul,  It’s obvious that anyone who doesn’t know what it requires one to be eligible for taking admission for a B.Tech/B.Sc. in .. read more
Most Popular

Sir main Pmt ke liye preparation kar raha mujhe last revesion kaise karna chahiye?

<a href=; DU LLB 2017</a> <a href=> Punjab BA LLB Exam 2017</a> <a href=http://www.e .. read more

What are the main work and responsibilities of a Human Resource Manager?

Human Resource Manager is responsible  for looking after the entire spectrum of HR activities including manpower planning, recruitment , training .. read more

I am a commerce graduate and confused between various options like cfa, mba, and job. What should I choose?

M.Com should be on last priority. The best option would be to continue with EY, and prepare for CAT simultaneously. The work ex will help you in getti .. read more

What to do after professional ?? confused betwen mba .. nd civil services

Hi, Suprit The following link gives you details of the syllabus for the Civil Services exam. . You will know how to go about preparing for the same ye .. read more