What is “Detailed” Category

Finvestor.in provides services under three categories – Query, Detailed and Comprehensive. Let’s understand what is a Detailed is and what does the customer get when asking a question under a Detailed category.

Detailed is simple! It’s a a one time answer to all your financial queries. All the categories under Query are offered here. Which means, once you ask a question, you get to know to all Insurance, Equity & Mutual Fund Portfolio, Fixed Income Portfolio , Retirement Portfolio , Estate Planning , Child Plans,  Tax Planning that fits you now.

Query is meant to be asked by

  • Indian Resident
  • Age 24 to 29
  • Salaried or Self-Employed.
  • Unmarried

NRIs should ask under comprehensive plans, as NRI taxation is more complex than Indian residents. Additionally, several key factors such as currency exchange fluctuations, savings options are more complex for an NRI.

So how what would your questions be? Let’s take an example.

  • In Details, your query ideally should appear as
    • I am Ramesh, 28 years old, working in an IT firm in Chennai. I have Rs 3L in equity and Rs 1L in mutual funds. My portfolio is attached. In equity I have invested in over 20 companies and it is giving me a loss of Rs 50,000. I am a long term player. The Rs 1L in mutual fund is giving me return of profit Rs 10000. I have invested in a ULIP for annual premium of Rs 50,000 and sum assured of Rs 10,00,000. I don’t have any investment in FD. I am putting Rs 1,00,000 in PPF for tax saving and the ULIP premium also. 
  • Remember, the RIA will contact you and ask for more details online via email/phone/video. So you don’t have to worry about including everything.
  • The answer in this case will involve the following steps with an RIA
    • The RIA will first determine your risk profile. – This would involve the RIA asking you several questions on how you can handle financial risks.
    • The profiling will include the salary range, the age of investor, dependents, family income etc to reach to a good conclusion on how much and where should the investment go.
    • Based on your profile, the advisor will suggest on changes in portfolio to add or remove investments.
      • This is important because, as you can see in the above example, someone has invested in 20 companies in equity and is in loss but the mutual funds he has invested is returning profit. This clearly indicates that the person has been blindly investing in equity (possibly as well as in mutual funds) and is unable to determine the stop loss and pick the right stocks for his risk profile.
      • Also, you see someone has put money in ULIP perhaps without understanding what it means.
      • Even if you are young, it does not mean that you don’t need to take a look at the fixed income portfolio. It makes sense to always have some investment in safer areas.
    • Many people do not understand what long term and short term means and typically, when people lose money they say they are in for long term and unable to take the pain of the loss incurred. The above example is a clear case of someone who probably should stick to equity diversified funds, but is putting hard earned money into equity stocks which may not have fundamentals.
    • Even if you don’t have children, it does not mean that this plan is not for you. You need to ready for anything in your life. Child plans can be easily substituted for preparation of marriage. You may want to have a low key marriage and save the expenses to enjoy it with your better half in roaming round the world.
    • The report having disclosures and advises will be uploaded by the RIA on finvestor.in

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Krishna Rath is a SEBI Registered Investment Adviser, and since 2015 has been educating netizens on investments and insurance. Krishna is a fee only SEBI RIA and is Odisha's first SEBI RIA. With background in IT, Krishna is changing the advisory space with new innovations in AdvisoryTech.

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