Financial Planner, Who?

I remember my friends Amit once telling me that he gets confused with the number of investment options available in the market today. Moreover, he also complained that he was mis-sold a ULIP without an explanation of all the charges. He didn’t know whom to trust and rely upon, who could actually give him unbiased advice. Hence, I referred him to my financial planner who could give him the best possible advice. He was not sure who is a financial planner and what does he do. So I started my verbal journey to explain him who is a financial planner?
He is your financial doctor: He analyses your current financial situation , your past and present finances, salary and other incomes, expenses, your risk profile, personal assets and liabilities, family and dependants health status etc and accordingly makes a plan for you to achieve your financial goals in a systematic manner.
Makes you realize your financial goals: Every individual wants to provide great education for kids and live a happy retired life but less do they understand about other financial goals like a foreign trip, emergency medical expenses, a car purchase etc. A financial planner makes us realise such goals and help us in accumulating funds to achieve such goals on time.
Qualified to handle personal finances: A financial planner has the relevant expertise required to manage finances of an individual. He is regularly updated with market trends, does a lot of research about different investment options in the market, different polices and at last advices the policy that best suits you.
Reviews risk profile: A financial planner ascertains your risk profile and suggests a proper asset allocation. He educates you about how to manage the risk of loss of your life. Plans for an easy flow of future finances required to meet your long term goals.
Unbiased advice: Unlike an insurance agent who sells the products of one company, a financial planner has no such limitations. A financial planner understands a customers requirements/needs, researches about different products in the market and accordingly suggests the product the best suites his requirement.
Ongoing relationship: He does not discontinue his services after submitting your financial plan. He reviews your financial plan on a timely basis and rebalances your portfolio as per prevailing market conditions, change in your family etc.

By now Amit was quite confident that he would surely meet my financial planner and check it out for himself, the difference, it makes on his future financial profile.