Portfolio management
People with 50L+ net worth, how do you manage all your investments, savings and loans?
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People who "Get advise and pay for it" Whome do you consult (CA or who) and how much do you pay for each consultation/commission basis?
Have hired a financial planning and advisory services company. Two models prevalent in industry. RIAs who charged percentage of corpus to manage. Usually 1 percent is industry standard. MFDs who give earn through regular codes instead of direct for advice.
To start with, you could go for a fee only financial planner to understand if it works for you.
Do not go with CAs (incompetent) or bank RMs (huge misselling) for advice whatsoever.
+1 I’m from the financial services industry and I know your incentives are misaligned with most distributors. So it’s a tough thing.
On the other hand Indians don’t like subscription fees / pay for advice. Wondering if high net worth / high income people will be willing to pay.
Index fund lol. I am in Dezerv and jiraaf & have probably done individual (angel) investments In a few companies. Nothing beats index funds
Which index? Nifty50, or MidCaps, or Banking based, or which else
Nifty fifty. I’m also not a very aggressive guy. For the first 2 years of my career, I only bought gold from whatever little I could save.
One more thing to note is that I don’t come from a financially savvy family which has a history of making money. And even I’ve just made it thru the cut recently. Maybe my views will change with time.
I keep it simple - index fund, real estate, emergency funds. Allocate percentage as per age and other factors.
I’m a quant so the money is basically traded automatically. Also a lot of early stage startup investments as an angel and through my VC. Rest all in on buying equity from co-founders and employees in the startups that I’m building.