Updated: Jul 31, 2019
At the core of such a relationship are honesty, transparency and diligence between the financial planner and the investor.
The saying ‘A friend in need, is a friend indeed’ could be true for your financial planner as well.
Think about these: A good financial planner could be there beside you when you are trying to cross some short term financial hurdle. Or, when you are thinking about how and where to invest your bonus for long term gains. Or, when you are not sure, as the market is doing well, and if you should take some money out of your portfolio and shift that to a safer investment avenue since you have some large outgo in a couple of years. You could depend on your financial planner for these and many other decisions in life, especially relating to income, investments, financial planning etc.
Financial planners often say that over the years as their interaction with their clients grow, a relationship of mutual trust and dependence grows between them.
Some often talk about how some of their clients even call them late into the night to discuss about matters that they are bothered about.
Such a relationship does not develop overnight. For this, both, the financial planner as well as the investor should work seriously and honestly. And there should be a high level of transparency between the two.