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From whom an average Indian take financial advice ?

By   /   April 14, 2019  /   No Comments

As per 2017 RBI report on household financing, an average Indian seeks financial advice from the following people:

Myself only30.4%
Friends, family, and neighbours25.1%
Bank/financial institution1.4%
Informal savings/lending groups0.2%
Religious institutes0.1%
Insurance company0.1%

“For legal advice, you consult a lawyer.

When you are sick, you approach a doctor.

For building design, you go to an architect.

For car breakdown, you go to a mechanic.”

But when it comes to investment decisions, why do you ask family, friends, colleagues.

Investment decision is a serious affair. If you want to make serious wealth, consult a financial advisor.



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  • Published: 1 week ago on April 14, 2019
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  • Last Modified: April 14, 2019 @ 8:48 pm
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About the author

Hi My name is Hari Om Tripathi. I am an engineer by chance & a Personal Financial Planner by choice. Currently residing in Kanpur & writing full time for Financial Kundali. In case you have any query about Personal Financial Planning such a buying a MF or ULIP, going for a life insurance plan or a term plan, to surrender your policy or not or any other questions related to your Personal Financial Planning, write to me at financialkundali@gmail.com

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