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(From The Economic Times)
Byline: Pooja Kothari
They watch people walk into their offices with income statements and crorepati dreams, and walk out feeling they're firmly on the path to financial nirvana.
Welcome to the world of the Certified Financial Planner. They've been around for more than 40 years in the US, for over a decade in Australia, and a couple of years in Asia. Now the CFP is all set to invade India with independent financial advisory services.
Simply put, CFPs make financial plans for clients, keeping their income and expenditure in mind. They can be a one-stop answer to all those questions usually put to brokers, insurance agents, mutual fund agents, and chartered accountants: is term life insurance okay, or is it better to invest in Jeevan Shree? Isn't an index fund better than a balanced fund? Is it the right stage to start thinking about retirement plans? Is it a good time to buy a house?
The CFP's biggest advantage - as also the USP - is that it's advice from the investor's point of view, without the biases introduced due to sales …