Firstly, competent human advisors are hard to find. There are only 2,500 certified financial planners find India for the 62 million households with annual incomes over Rs 500,000 that could use one. Secondly, the harsh truth about investment advice is that most investors intuitively don’t trust their bank relationship managers, advisors or brokers – simply because they’ve all too often been pushed or cheated into products that are too expensive or simply not right for them.
