You have made investments in many financial instruments like insurance, mutual funds, NSC, bonds etc but the person who helped you in doing this or in other words the person who advised you is he/she a certified financial planner? Have you ever thought of seeking help from a certified financial planner?
Every newspaper advertises for insurance advisors who can be a student, a house wife or a retired person. It is not surprising if you have invested through them. The reason you invested through them is you know them either by your family relationship or through social networking. Have you ever realized that the person through whom you are investing your money does have basic financial knowledge? You may not have the answer as you assume an investment advisor is a person who has sound financial knowledge and who can help you select a better investment product. Your assumption is not always right as your advisor is merely an sales person. Apart from the product which he/she is selling, he/she does not know anything else in financial planning.
You should always invest in any of the investment options available based on your need and requirement not because your advisor is telling you without understanding your financial plan.
It’s your hard earned money, think before you invest and always locate a financial planner before you invest. Financial planners’ charges a nominal fee but the skills and expertise which financial planners possess can help you grow your wealth. Next time if any of your known friends or relative approaches for any investment product, think twice and then invest as it is your money.