I’m not a certified financial planner. But I’ve lived through one of the most expensive lessons money can teach — losing over ₹52 lakh in the Indian stock market’s Futures & Options (F&O) segment over 10 years.
During that time, I ignored basic planning, skipped budgeting, and trusted my gut instead of facts. And today, I realize something painfully clear:
If I had just listened to a financial planner, I might have been rich — or at least financially secure.
This isn’t a story about regret. It’s a lesson. A warning. And maybe, a chance for you to avoid repeating my mistakes.
What Is a Financial Planner
A financial planner is someone who helps individuals and families manage their money effectively — with the goal of achieving long-term financial stability and growth.
They do this by:
- Assessing your current financial situation
- Clarify your goals—whether it’s retirement, buying a home, or funding your child’s education.
- Creating a personalized plan that includes:
- Budgeting
- Saving
- Investing
- Insurance
- Tax planning
- Estate planning
Their job is not to make you rich overnight — but to help you build wealth steadily and safely.
My Story: Ignoring the Financial Planner, Trusting the Market
Between 2009 and 2019, I threw nearly ₹43,000 every month into F&O trading — without a strategy, without guidance, and definitely without a financial planner.
I borrowed bank loans, paid back ₹8 lakh in interest, and still ended up with nothing.
Why?
Because I never sat down with someone who could have told me:
- “You’re risking too much.”
- “Your goals are unclear.”
- “You need to diversify.”
- “Stop chasing quick profits.”
Instead, I chased tips, trends, and rumors — and paid dearly for it.
That’s when I realized: a financial planner isn’t there to control your money — they’re there to protect it.
What Does a Financial Planner Actually Do?
A financial planner does far more than suggest where to invest. Their role includes:
| Task | Description |
|---|---|
| Goal Setting | Helps you define short-term and long-term financial goals |
| Cash Flow Analysis | Reviews income vs expenses to create a realistic budget |
| Risk Assessment | Evaluates your risk tolerance and financial habits |
| Investment Planning | Recommends asset allocation and portfolio strategies |
| Insurance Review | Checks if you’re adequately insured |
| Retirement Planning | Maps out how much you’ll need to retire comfortably |
| Tax Strategy | Helps reduce tax liability legally |
| Debt Management | Guides you on managing or eliminating debt |
In short: they act like a personal trainer for your money — helping you stay fit financially.
What Is the Duty of a Financial Planner?
The core duties of a financial planner include:
- Understanding your life stage and goals
- Analyzing your current financial health
- Creating a roadmap for the future
- Reviewing progress regularly
- Adapting to life changes (job loss, marriage, health issues)
They don’t predict the future; they help you prepare for it with confidence and clarity.
What is a reasonable fee to pay a financial planner?
Financial planners charge in different ways:
1. Fee-only Planners
- Charge a flat fee or hourly rate
- ₹5,000 – ₹25,000/year is common in India
- Most transparent model
2. Commission-based Advisors
- Earn money from products they sell
- May recommend what benefits them, not you
3. Hybrid Model
- Mix of fees + commissions
Many offer a free initial consultation. And yes — the investment is worth it.
Financial Planner Near Me – How to Find One
If you’re looking for a financial planner near you, here’s how to find one:
1. Search Online
Use platforms like:
- CFP India
- SEBI RIA Directory
- Google Search: “Financial Planner in Hyderabad / Mumbai / Delhi / Bangalore”
2. Ask for Referrals
Talk to friends, family, or colleagues who work with planners.
3. Check Certifications
Look for:
- CFP (Certified Financial Planner)
- CFA (Chartered Financial Analyst)
- RIA (Registered Investment Advisor)
4. Interview 2–3 Prospects
Ask about:
- Experience
- Fees
- Services offered
- Client reviews
Financial Planner Book – Must-Reads
Books written by or about financial planners can give you insights into their thinking and methods. Some top picks:
- “The Only Investment Guide You’ll Ever Need” – by Andrew Tobias
- “Smart Women Finish Rich” – by David Bach
- “The Millionaire Next Door” – by Thomas J. Stanley
- “The Elements of Investing” – by Burton Malkiel
- “The Intelligent Asset Allocator” – by William Bernstein
These books often reflect real-world planning techniques used by professionals.
Financial Planner AI – Can AI Replace Human Planners?
Artificial Intelligence is now playing a role in financial planning through:
- Robo-advisors (e.g., Wealthfront, Scripbox, Paytm Money)
- Chatbots offering investment suggestions
- Tools that simulate retirement plans or savings goals
While AI tools are fast and affordable, they lack the human touch — especially when it comes to complex decisions involving emotions, family, or major life events.
For now, think of AI as a co-pilot, not a full replacement.
Financial Planner Calculator – Use These Tools
Even before hiring a planner, you can use these free calculators:
| Tool | Purpose |
|---|---|
| SIP Calculator | Estimate returns on mutual fund investments |
| Loan EMI Calculator | Understand monthly repayment impact |
| Retirement Calculator | Plan how much you’ll need to retire |
| Emergency Fund Calculator | Know how much to set aside |
| Net Worth Calculator | Track your total financial health |
These tools give you a head start — and help you understand your own numbers better.
Financial Planner Course – Want to Learn More?
Want to become a planner yourself? Consider these courses:
1. CFP Certification (Certified Financial Planner)
- Recognized globally
- Offered in India by FPSB India
- Covers all aspects of financial planning
2. NCFM Modules (NSE Academy)
- Flexible modules in financial markets
- Great for understanding stock market side
3. CFA Program
- For deeper finance knowledge
- Ideal for those interested in investing
4. Online Courses
- Coursera: Financial Planning Specialization
- Udemy: Personal Finance & Wealth Building
- LinkedIn Learning: Foundations of Financial Planning
Financial Planner Job Description – What They Do Daily
Here’s a typical job description for a financial planner:
Role:
Provide personalized financial advice to clients based on their needs and goals.
Key Responsibilities:
- Meet with clients to assess financial goals
- Analyze income, expenses, assets, and liabilities
- Recommend investment strategies
- Help with tax planning and insurance coverage
- Monitor and review client portfolios annually
Skills Required:
- Strong communication
- Ethics and transparency
- Deep knowledge of financial products
- Empathy and listening skills
Financial Planner Salary – What They Earn in India
| Experience | Average Annual Income |
|---|---|
| Entry-level | ₹3–6 lakhs |
| Mid-level | ₹6–12 lakhs |
| Senior / Certified | ₹12–25+ lakhs |
| Independent Practice | ₹30+ lakhs (based on clients) |
Top CFPs in metro cities can earn significantly more — especially if they run their own advisory firm.
Financial Planner Book Recommendations
Looking for practical books to understand financial planning deeply?
Top Picks:
- “The Bogleheads’ Guide to Investing”
- “The Little Book of Common Sense Investing” – John C. Bogle
- “Money: Master the Game” – Tony Robbins
- “I Will Teach You to Be Rich” – Ramit Sethi
- “The Psychology of Money” – Morgan Housel
These aren’t textbooks — they’re real-life guides to help you think like a planner.
DIY vs Hiring a Professional
| DIY Investing | Working With a Planner |
|---|---|
| Free | Costs money |
| Requires learning | Saves time and effort |
| Risk of mistakes | Minimizes errors |
| Emotional decisions | Disciplined approach |
| No accountability | Regular check-ins and reviews |
There’s nothing wrong with self-learning. But even then — learning from a professional can fast-track your journey.
Bonus: Financial Planner Calculator Tools You Should Try
| Tool | Use Case |
|---|---|
| Morningstar Portfolio Manager | Track investments |
| Zerodha Coin | Free direct mutual fund platform |
| Scripbox | Automated investment planning |
| Upwardly | Compare and choose funds |
| Wealthy Health Check | Take control of your money with a free financial checkup |
These tools can act as your first step toward structured planning.
Final Thoughts
I lost over ₹52 lakh because I thought I knew better than the experts.
In hindsight, what I needed wasn’t luck — it was guidance.
A financial planner could’ve helped me avoid debt, create a realistic investment plan, and stay focused on long-term growth.
Now, I write Paisagyaan.com so others can learn from my losses.
So ask yourself:
Do you want to repeat my mistakes — or take the smarter path?
Talk to a financial planner. Or at least, read up on what they recommend.
Because money doesn’t grow on its own — but with the right plan, it sure can multiply.
FAQs
Q: What does a financial planner do?
A: He helps you manage your money by creating a customized roadmap for your goals — including savings, investments, insurance, taxes, and retirement.
Q: Can I plan my finances without a financial planner?
A: Yes, but it takes discipline, knowledge, and consistency. Many people benefit from expert guidance — especially when starting out.
Q: How do I choose a good financial planner?
A: Look for:
- Certified professionals (CFP, CFA, RIA)
- Transparent fee structure
- Client reviews/testimonials
- No pressure to buy specific products
Q: Is a financial planner worth the cost?
A: If they help you avoid costly mistakes and optimize your returns, absolutely.
Q: Can I trust online financial planners?
A: Yes, if they’re certified and reputable. Always verify credentials and read reviews.
About the Author
I’m Om Prakash — founder of Paisagyaan.com, a blog focused on making financial knowledge simple, relatable, and useful for everyday Indians. My journey includes over 10 years of navigating the Indian stock market, learning the hard way about investments, debts and real estate.
Read About the Author in detail, who lost 75 lakh rupees during 2009 to 2019 which would be 4.5 crore now in 2025.
I share lessons from my own life — so you don’t repeat my mistakes. If you’re just starting out or have already faced setbacks, this blog is for you.
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