Resource id #5Resource id #5 Advisor Interview
05 March, 2024 16:54 IST

`Seek help from a trusted financial professional`

Source: IRIS Exclusive (19 November 2012)

`Seek help from a trusted financial professional`
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In an interview with Pooja Chopra Goel of, Karan Kuldeep Sawhney, Founder, Globe Financials, says, ''Managing your personal finances is ultimately your responsibility.''

Can you tell us about 'Globe Financials' and its mission & services? What services do you offer?

Globe Financials was founded on Jan. 01, 2012 with an objective of taking care of personal wealth. Stepping up at every step is the rule of life; there is a drive in me to connect with people and help them in maximizing returns from their personal wealth. So Globe Financials is mission in itself. Everything in personal financial spectrum comes under our business domain - right from insurance, MFs to bonds, small savings and loans.

How many fund houses do you deal with? Tell us your favorite all-time MF schemes.

We mostly deal with HDFC Mutual Fund, Reliance MF, ICICI Prudential MF and DSP Blackrock. Our favorite all-time MF schemes include HDFC Top 200, HDFC Prudence, ICICI Dynamic, and DSPBR Top 100.

With an aim to crack its whip on investment advisors possibly indulging in unfair trade practices, watchdog SEBI is putting in place strict norms for them, including putting a ceiling on fees charged by them. What is your take on this?

The equations have changed drastically over the years and it is quite commendable on part of watchdogs such as SEBI to come into the picture with an iron hand. In curbing the menace of wrong doers, the genuine ones also had to bear the brunt. Nevertheless, advisors are professional consultants and should derive advisory fees in perspective of their advice and some sort of mechanism in accordance has to come to fore from SEBI. After all we are investing our time and expertise for clients.

What is one misconception about financial advisors you would want to refute?

There is a wide belief that financial advisors run behind targets and are not concerned about the well being of their clients. I differ in this regard. I am much passionate about what I do. Having multiple products and client faith I can mint easy money. But I have strong work ethics and have built business on relationships and truthful advice. There would be many who share the same philosophy as mine; after all honesty pays.

How does a financial advisor make his living and is there any conflict of interest between him and his customers?

A financial advisor makes his living through professional fees and remunerations for business done for various companies. As financial advisors you have to sell yourselves and not products. In this deal if people are satisfied then there is no question of any conflict of interest otherwise they will never come back to you. Through our fair practices and needs based solutions we have always created a win-win situation for all stake holders.

How would you suggest a common investor ensure that their accounts are protected and not invested in dubious instruments?

One must do a periodic review (at least once a year) of his investments that he has done so far, it will help him keep a track on the investment.

Do you think enough is being done to address the broader issue of financial literacy?

I think there is still a lot to be done on financial literacy front.

Is there anything else you would like to share with our readers?

Managing your personal finances is ultimately your responsibility. However, you don't have to do it alone. Seek help from a trusted financial professional, someone who can help you change your financial behaviors for the better. A qualified financial planner can help you make decisions that make the most of your financial resources. And in today's hectic world, it can be beneficial to have a financial planning expert help to make sure you stay focused and follow through with your financial plans.

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