A certified financial planner, is a qualified professional who can help you manage your money and investments systematically in order to achieve your long and short term financial goals. In the face of increasing uncertain market cycles and rising costs of living around the world, CFPs in Mumbai have witnessed a huge demand for their services, especially by young salaried professionals. In fact the trend is not just limited to Mumbai but also the smaller tier 2 and 3 cities. Certified financial planners in Mumbai advise clients across income groups and from all walks of life including government employees, self employed businessmen and even housewives! If you think that you don't need a CFP to manage your finances we have come up with a guide that will tell you about 5 reasons why to hire one:
Expertise and compliance: A CFP is considered a bona fide fiduciary in the eyes of law, and you should not hesitate to share all your financial information with them. A lot of people are averse to the idea of a third person meddling in their investments but certified financial planners only work towards improving your financial situation and are more than adept in their skills. Individual CFPs or firms might specialise in areas like retirement planning, hedge fund managing, and you can approach them according to your particular needs.
Existing debts and liabilities: Struggling with existing debts and liabilities? Contact your nearest CFP now! Debts and liabilities like student loans, home loans, or any other kind of debt, can wreak havoc with your long term financial goals. If you are struggling to manage an existing liability then you must surely approach a professional who has the expertise to systematically manage them for you and pull you out of the red zone. CFPs can also leverage debt agreements to your advantage, in order to give you more breathing space.
Investments: Probably the number one reason why people hire CFPs, is to manage their investments. Real estate, stocks, Mutual funds, the options are endless and it takes time and understanding of domain to make wise choices. A CFP will analyse your financial profile and recommend investments best suited to your goals and your risk threshold. Also CFPs take the load of managing the paperwork associated with these investments off your shoulders so that you can concentrate on your job/business.
Taxes: Tax savings is an essential aspect of sound financial planning and a certified financial planner could translate to major tax savings for you. If you are struggling with your tax returns a CFP could be the solution you are looking for.
Retirement planning: As we have told you before some CFP’s specialise in retirement planning for their clients and if you want to sleep in peace, and realise your long term financial goals, getting help of one is a good idea. Buying a house, travelling the world, the goal could be anything, and a CFP will help you move towards achieving it.
We have told you briefly about top 5 reasons why you should hire a certified financial planner. We hope this guide has been convincing and will prove useful for you. Have an amazing day!