Karvy MF investment advisor

#1
Well I've heard of these investment services.Are these people really brilliant or are they just another scum. Shame that everyone needs to decide a portfolio but nobody provides these services to all for free.
 
#2
Friend,

I am amazed by your question, couldn't help but respond. I will not make a comment on Karvy MF Investment advisor per se, but would comment in general.

My experience with a advisor started a few years back. I paid a princely sum (according to me definitely) of Rs. 10,000 for their services for 1 year i.e. correct 1 year.

These so called knowledgeable people were supposed to guide me on investments and I had one meeting over the entire year. I used to get some glossy material and some recos, but no one ever tried to understand my lifestyle or my needs. Another interesting point is that most advisors expect one to have a corpus of 5 Lakhs or more. According to me this is very huge and not everyone (including those in IT Sector) can afford the same.

coming to my old story, after the year over, as you might have guessed, I didn't renew. As an experiment, last year, I took the services of another firm (low frills) and paid a lower sum for services, which again is bunch of emails from someone who doesn't understand what the portfolio means or how the same should be tweaked to suit my needs.

To conclude, you might get services, but you need to decide if these are exactly what you want and whether they match your expectations, portfolio requirements. I would definitely advise you to get as much clarity as possible prior to embarking on the service relationship. Again to reiterate, this is not specific to Karvy, but true for any advisory firm.

If you aren't into these kind of services, I would suggest you to do a little bit of reading on internet, magazines and design a portfolio. At the least, you would have the satisfaction of being the only decision maker. For me, it counts a lot :)

Happy Investing !!