Why you must start paying for financial advice?
With the Pension Fund Regulatory and Development Authority (PFRDA)
allowing retirement advisors to charge 0.02% (two basis points) from customers
under the National Pension System (NPS), the first step towards formalising
“charge-for-advice” has been taken.
This will
help both investors and retirement advisors (RAs):
More people will be willing
to push NPS which is good news because of its exposure to equity that will give
better returns over longer time periods. Also, since the amount has been pegged
at Rs. 100 (not less than) - Rs 1,000 (not more than) annually, returns of
investors will not be hurt so much.
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