Does qualification matter in Financial Planning ?

POSTED BY Jagoinvestor ON September 30, 2010 11:59 am COMMENTS (5)

I would like to know from fellow members on this forum that how much importance do you give to qualification/certifications while hiring someone for advice/planning ?

Now a days there are loads of things like CFP / AMFI certified / IRDA certified etc etc .. I would like to know , how much % does qualification matter for your decision of paying some one for hiring for advice/services ?


5 replies on this article “Does qualification matter in Financial Planning ?”

  1. Pardeep goel. CFP says:

    Hi Friends i am A Certified Financial Planner. So i would say that the Qualification matters for 60-70%. It helps me to get the requisited updated knowledge and the right type of strategies to be used for the proper financial planning. But with the Qualification we can not ignore the value of human touch which can learnt from the experience only. So i would suggest to have experience and Qualification both.

    If one has to choose from a known friend and unknown CFP , One should look for both the Experience and Knowledge.

    If Known friend has good experience and knowledge then one should go with a known friend. but if he does not have requisite experience then blindly going with friend is a wrong choice. then one should go with a unknown CFP.

    Seek opinion of experts on my views…

    Happy investing.

  2. Syberfriend says:

    Dear Manish,

    I am one of the regular reader of . Plz suggest me for risk & investment.

    I am the only earner in my family. my wife is housewife and parents are deendent on me. My CTC is 3.31 Lpa.I am working as a s/w engg. in delhi.

    Thanks and Regards,
    Deepak Srivastava

  3. Anil says:

    I would be more interested in financial planners success stories and case studies than qualification/certification. I would rate experience and practical knowledge more than qualification. Technical jargons do not matter to majority of end users, they need someone who understands their requirement and provide solution in easily understandable way.

    Ofcourse basic qualification helps to understand trick of trades but then more important is application of their knowledge, knowledge which can be gained over period of time and right exposure.

    To give a similar analogy, remember most of the first generation entrepreneurs were school drop-outs.

  4. qualification matters definately because a person wants to do Financial planning, will first search for the qualified person to whom he can discuss, but full stress on qualification should be avoided, by % wise 60 to 70%, remaining for his experience,practical knowledge.

    1. Vishal

      So suppose you have choice between 3 people .

      A) CFP , but you dont know him .
      B) someone you know can do your financial planning , but without any qualification , you trust him and know him from last 1 yr or 2 yrs
      C) some one who is advisor not CFP . your friend knows him and suggests you that he is good .

      Whom will you choose ?


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