How to choose a MF advisor?

Typically a mutual fund advisor is someone who helps you and assists you in reaching your investment goal. Therefore when he identifies a mutual fund for you it needs to be something that is specific to your particular need. Today there is a lot of adhoc advice that happens, there a lot of people who just come and sell you some random mutual fund saying that this is good for you. That is not the way to go, what you need to do is actually identify and help and tell your mutual fund advisor that my need is so and so, my goal is so and so, my timeframe is this, so which is the best fund that therefore will suit me.

The mutual fund advisor has to listen to you, understand all of this in fact it is best to take the help of someone who is a financial planner. Financial planners are ones who actually sit down with you, understand your needs and goals and therefore draw up a plan. This is a written strategy that could help you in the long-term. Today it would even help in paying fees to a financial planner or an advisor to help in selecting and helping you with unbiased advice. It is very difficult in today’s scenario where there are so many funds available for you to select which fund is right for me. Also, in today’s scenario when there are people who are giving you a lot of tips or there are people who are just randomly trying to tell you this is the right thing because it is just been launched. You don’t even know whether I am seeing something that has been existing for a while. So, please be cautious and do select your advisor very carefully because its not just about buying the fund it is also about tracking it, about monitoring it and about being there when you need to exit from the fund.