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For comprehensive financial planning and/or mutual fund portfolio review, the fees would depend on whether you opt for a fee-only advisor or a commission based advisor.
They charge an upfront fixed fee. Typically between Rs 10,000 to Rs 25,000. On an average it is Rs 15,000. This varies from advisor to advisor.
No upfront fees, but you pay them via commissions from your mutual fund assets. Typically advisors receive a commission of 1% on equity mutual funds and about 0.5% for debt funds. A 1% commission would mean Rs 10,000 for every Rs 10 lakh invested.
These commissions are deducted from your mutual fund assets as an expense. Expense Ratio tells you the % of your assets deducted as expense every year by the mutual fund house. The expense ratio is higher when you buy mutual funds via a commission based advisor or distributor.
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Sachin Shah is a 30 year old Senior Software Engineer, working at an IT services company in Bengaluru. He and his wife want to plan for their retirement and also want to save for their child's education, wedding and for buying a car.View Case Study