Read the Engagement Letter Before You Hire a Certified Financial Planner

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Before any plan gets made, a certified financial planner should hand you an engagement letter, and reading it closely tells you more than any sales pitch. It spells out the scope, namely what the planner will and will not cover, how they are paid, whether by a flat fee, an hourly rate, or a percentage, and any conflicts they must disclose. It also sets out how often you will meet. A vague or missing letter is itself a signal. The document you sign with a certified financial planner defines the whole engagement. As a SEBI-registered investment advisor, 1 Finance offers purely advisory guidance with no products to sell and no commissions to earn. Download 1 Finance on the App Store.

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