Common Questions to Ask your Prospective Financial Planner

Published on: 13th October 2023 by Best Financial Planners in India Media Team

Common Questions to Ask your Prospective Financial Planner

Choosing a financial planner is a significant decision.

Whether you are new to investing or looking to make more informed financial choices, the role of a financial planner or adviser is crucial in helping you meet your financial goals.

With the diverse financial landscape in India, it’s essential to have a trusted expert by your side.

To make an informed choice, here are the 10 most common questions you must ask your prospective financial planner or investment adviser in India.

Table of Contents

1. What are your qualifications and credentials?

It’s essential to know if your financial planner has the necessary qualifications and certifications. In India, look for professionals with certifications like Chartered Financial Analyst (CFA), Certified Financial Planner (CFP), or those registered with the Securities and Exchange Board of India (SEBI) as Investment Advisers (RIA). These credentials indicate a certain level of expertise and adherence to regulatory standards.

2. What is your experience and track record?

Ask about the planner’s professional experience, especially in managing portfolios or providing financial advice. Inquire about their track record in terms of investment returns and how their strategies have performed over the years. This will help you gauge their expertise and success in managing financial assets.

3. How do you charge for your services?

Understanding the fee structure is crucial. Financial planners in India may charge fees in various ways, such as commissions, flat fees, or a percentage of assets under management (AUM). Make sure you are clear about how your planner charges and any potential conflicts of interest associated with their fee structure.

4. Are you a fiduciary?

A fiduciary is legally obligated to act in the best interests of the client. In India, SEBI-registered Investment Advisers are held to this fiduciary standard. Ensure that your prospective planner follows this standard, as it ensures they prioritize your financial well-being over their own.

5. What is your investment philosophy and strategy?

Understanding your planner’s approach to investing is crucial. They should be able to explain their investment philosophy and the strategies they use to manage your investments. This will help you determine if their approach aligns with your financial goals and risk tolerance.

6. How do you assess risk tolerance?

Your risk tolerance plays a significant role in shaping your investment strategy. A good financial planner will have a structured process for assessing your risk tolerance. They should consider your financial goals, time horizon, and emotional tolerance for market volatility to design a suitable investment plan.

7. Can you provide references or client testimonials?

Ask for references from current or past clients or inquire about any client testimonials. This can give you insights into the planner’s track record and the experiences of those they have worked with.

8. What is the process for regular updates and reviews?

Communication is key in maintaining a healthy adviser-client relationship. Inquire about how often you can expect updates on your investments and how reviews are conducted. Regular reviews ensure that your financial plan stays on track and adapts to changing circumstances.

9. How will my investments be diversified?

Diversification is a fundamental aspect of risk management. Your planner should be able to explain how they plan to diversify your investments across asset classes, sectors, and geographical regions to reduce risk and optimize returns.

10. How will you keep me informed about regulatory changes?

Financial regulations in India can change, impacting your investments and financial planning. Ask your planner how they stay updated on regulatory changes and how they plan to keep you informed. Staying compliant with current regulations is crucial for protecting your investments.


In conclusion, choosing a financial planner in India requires careful consideration and a thorough understanding of their qualifications, experience, and approach to financial planning. By asking these essential questions, you can make an informed decision and work with an adviser who is the right fit for your financial goals.

Remember that building a strong relationship with your financial planner is a long-term commitment. Therefore, it’s essential to choose someone you trust and who aligns with your financial objectives.