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Ramalingam Kalirajan |8341 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Apr 28, 2025

Ramalingam Kalirajan has over 23 years of experience in mutual funds and financial planning.
He has an MBA in finance from the University of Madras and is a certified financial planner.
He is the director and chief financial planner at Holistic Investment, a Chennai-based firm that offers financial planning and wealth management advice.... more

Asked by Anonymous - Apr 22, 2025

I have invested in Mutual Funds and Equities through two different service providers, namely ICICI Direct and a local CFA. Should I switch to local guy from ICICI Direct or continue as it is?

Ans: You are investing through two different channels: ICICI Direct and a local Certified Financial Planner.

It is good that you are now reviewing the quality of service and advice.

Being conscious about your financial journey is always a smart and responsible move.

Importance of Evaluating Investment Services Periodically

Financial services must always be reviewed on quality, advice approach, and alignment to goals.

No provider is automatically better or worse; your needs must be the centre of all evaluations.

Instead of shifting blindly, it is wise to take a step back and review carefully.

How You Can Do an Independent Homework Before Deciding

Please do a simple but very powerful homework before you take any action.

Analyse both ICICI Direct and the local Certified Financial Planner yourself.

Review both based on two very important parameters:

1. Process-Driven Approach

Does the provider first understand your life goals properly?

Is there a scientific process for assessing your risk profile?

Are they giving you a clear asset allocation plan?

Are they giving you a written financial plan or only transactions?

Do they review your portfolio yearly and rebalance it?

Are they proactive in tax planning and cash flow alignment?

2. Product Pushing Behaviour

Are you frequently suggested new schemes without proper need analysis?

Are there too many NFOs, IPOs, insurance products pushed without discussions?

Are changes in funds happening too often without strong logic?

Are charges and commissions explained transparently and openly?

Do you feel that more attention is given to selling than solving your needs?

You Must Compare Both Providers Under These Two Parameters

Please take a paper, draw two columns: ICICI Direct and Local CFP.

Under each parameter, score them based on your experience so far.

Be very honest and factual while scoring.

This exercise will give you surprising clarity on whom to continue with.

What You Should Finally Look For

Choose the one who is strongly process-driven and goals-focused.

Avoid continuing with anyone who is only product-pushing without holistic understanding.

Consistency of service, trustworthiness, and alignment to your goals are non-negotiable.

No Need to Rush to Shift Immediately

Even if you find one slightly better today, watch their behaviour for 3-6 months.

Good advice and bad advice both reveal themselves over a little time.

Take small but steady steps based on observation, not impulse.

Few More Key Points to Keep in Mind

Big brands or local players, both can be good or bad. Only process matters.

Wealth is built not by chasing returns but by disciplined financial planning.

The right advisor will stay with you across good and bad markets patiently.

Tax planning, risk management, and emotional discipline matter more than just fund selection.

Avoid frequent shifting between advisors; stability is very important in investments.

Practical Action Plan for You

Spend one peaceful evening doing this comparison yourself.

Talk to both ICICI Direct representative and local CFP separately.

Ask both about their investment process in detail.

Observe who speaks more about you and your goals versus who talks more about products.

Once you feel convinced, you can take a wise and confident decision.

Finally

Your investments must revolve around your goals, not around providers or platforms.

A process-oriented approach ensures your financial dreams become reality.

Product pushing without needs assessment damages financial health in long run.

You are the captain of your ship; choose your co-pilot carefully.

Spend quality time in evaluation; your wealth deserves thoughtful stewardship.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.