We believe in the Financial Planning process. This is the process of identifying goals, gathering and reviewing financial data and designing and implementing a financial plan to help you reach your goals. It is a lifelong process. Once the plan is in place, it needs to be monitored, reviewed, and updated to meet dynamic circumstances. Not everyone needs to have a written comprehensive financial plan. Everyone, however, can benefit from the financial planning process.
Financial Planning simply put is planning for the future. It is preparing oneself and one’s family for future events like child education, retirement, child marriage, wealth creation, life security and so on.
It is planning for uncertain events with some degree of certainty by taking factors like interest rates, inflation, taxation, cash flows, current expenses and lifestyle into consideration.After which, a Financial Planner, recommends the best possible allocation of existing and future resources to help meet future goals.
Financial Planning is a lengthy and ongoing process.
It takes into consideration, investment management, risk management, retirement planning, tax planning, cash flows present and future and estate planning, and since these factors are subject to change, with changing policies, environment, the financial plan, needs to be reviewed on a regular basis.
Have you planned for –
- Retirement after considering inflation at the time of investing and at the time of receiving regular inflows and taxation at the time of both saving and receiving regular income.
- Increased medical expenses at retirement.
- Your child’s education, after consideration of inflation at today’s value terms.
- Your child’s marriage expenses.
- The dream home you wanted to purchase five years from today.
- The car you wanted to buy.
- The wealth you wanted to create for closing liabilities and for a rainy day.
- The estate you wanted to leave behind for your wife and kids.
What’s Covered in a Comprehensive Financial Plan
After an extensive data gathering exercise and analysis on your current finances, we will prepare a tailor-made, to-the-point and easy to understand financial planning report which will show you where you stand today, where you would like to go and how can you accomplish this journey. The contents of the financial plan will on the following lines:
Executive Summary & Action Plan
- Articulation of Client Goals & Objectives
- Map of Fulfilling Goals with Current Assets & Future Investments
- Representations of Key Figures in graphs and with mind maps
- Recommendations & Action Plan on all aspects of Client’s Personal Finances
Consolidation & Analysis of Current Financials
- Family Details, Plan Assumptions & Logics
- Networth Statement (Personal Balance Sheet)
- Current Inflow Outflow Statement
- Analysis of Current Debt Instruments.
- Analysis of Current Life Insurance Policies
- Analysis of Current General Insurance Policies
- Analysis of Current Mutual Funds without specific scheme recommendation
- Analysis of Current Equity Shares without specific scheme recommendation
Planning, Strategy & Recommendation for Future Goals
- Contingency Fund Planning
- Life Insurance Need Analysis
- General Insurance Need Analysis
- Children’s Future Planning (Education & Marriage)
- Retirement Planning
- House Purchase Planning
- Car Purchase Planning
- International Vacation Planning
- Any other goals of client and family
On-going Implementation, Monitoring & Renewal Service Offerings & Fees
- Recommendation of Specific Products to invest/buy based on Action Plan
- Recommendation/Referral for most convenient & economical way to buy/invest
- Guidance with Organizing Data, Documents, Investments & Portfolio Online
- Limited Guidance with Will Preparation & Tax Filing Preparation
- Regular mails/newsletter to update on developments affecting Client’s Financial Plan and Portfolio
- Portfolio analysis and monitoring with related reports on capital gains, unrealised gains etc.
- KYC and nominee checks with documentation.
- After 1 Year – Data Gathering Meeting for Goal Review.
- Recheck Client Goals, Changes in Financials, Revisit Assumptions etc
All the above questions can be answered by a trust worthy and competent financial planner.
Comprehensive Financial Planning
Personal Financial Planning and wealth Management is an integral process and goes side by side. Both of these revolve around all the areas of Finance like Income, Expenses, Assets and Liabilities. We take a Holistic view of your finances and design a comprehensive plan for you to achieve your Long and short Term goals.
The different aspects that we cover in comprehensive Financial plan include:
Cash Flow Statement outlying Income and Expenditure and thus illustrating Savings Component.
Net-Worth Statement Analysis.
Insurance Need Analysis and existing insurance policy analysis.
Investment Analysis and Investment Planning.
Contingency Planning.
Debt Management.
Retirement Planning.
Child Education Planning.
Health Insurance need analysis.
Car Purchase/ White good purchase.
House purchase.
Vacation Planning.
Business Start Up Planning.
Estate Planning and WILL creation.
Tax Planning.
Why do a Goal Review and what is covered:
Savings without a goal in mind, is like a headless chicken without direction. We need to know where we are in terms of our investments. Are the rates of investment return assumed for each goal, meeting the portfolio growth rate? Is the risk tolerance rate of return enabling the client to meet goals. What is the risk required rate of return? If portfolio growth is higher, we can either advance the goal, or increase the target amount at goal year or be ready to brace surplus, which will only help! Are there changes in assets, liabilities which will impact the Net Worth? Has income growth met target assumption rates and are cash flows as planned? What is the new disposable surplus income available for investment Is inflation the same as assumed the previous year? And of course are the goals on track with what we had planned initially.
Only our Asset Under Management Clients can benefit from our Annual Goal Review.
All the above questions can be answered by a trust worthy and competent financial planner.
Risk Management
The process of identification, analysis and either acceptance or mitigation of uncertainty in investment decision-making. Essentially, risk management occurs anytime an investor or fund manager analyzes and attempts to quantify the potential for losses in an investment and then takes the appropriate action (or inaction) given their investment objectives and risk tolerance
Inadequate risk management can result in severe consequences for companies as well as individuals. For example, the recession that began in 2008 was largely caused by the loose credit risk management of financial firms.
What is Risk Tolerance and what do we do at Dilzer
An individual should have a realistic understanding of his or her ability and willingness to stomach large swings in the value of his or her investments. Investors who take on too much risk may panic and sell at the wrong time.
Factors Affecting Risk Tolerance are time horizon of staying invested, objective, future earning capacity, and presence of other assets like a home, pension benefits, which lend stability of income sources.
We at Dilzer, discuss and undertake risk tolerance with our clients through a risk questionnaire on an annual basis.
Risk Capacity identifies the amount of risk for a given level of return that the client must take to meet his goals.
It is important to note, Risk Tolerance and Risk Capacity are not the same. While the former, is specific to an individual’s ability to withstand volatility, the latter, considers, what is the appropriate level of risk required for a defined level of return.
There are different Types of Risk:
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- Systematic Risk – This is due to external factors and not controllable by an organisation. Examples of such risk is Interest rate risk, market risk, and inflation/ purchasing power risk.
- Unsystematic Risk- This risk is due to internal factors prevailing within an organisation. Examples of such risk is business or liquidity risk, credit risk, operational risk.
We follow an in-depth Risk Management analysis at the time of Financial Plan preparation and at the Annual Goal Review Stage
Wealth Creation
Our wealth management services provide a comprehensive level of planning and investment management in two phases. The first phase of our wealth management services includes, development of a financial plan and portfolio design. There is a onetime fee charged for the initial plan development. The second phase of this, is, ongoing management and financial planning services, for which fees are charged based on Assets Under Management. Included with this phase are monthly/quarterly reports on the clients investment portfolio, target allocation and related performance. This includes a tracking of portfolio holdings, interest and dividend payments, capital gains, overall portfolio performance, recommendations for profit booking and portfolio re-balancing. Periodic meetings are held with the client to review his/ her current situation and investment portfolio.
Process Objective
The objective of this process would be to optimize the risk – return relationship for a given risk profile by applying scientific and proven methods of portfolio construction and management.
Steps followed in the Portfolio Construction Process.
1 Asset Allocation
2 Fund Categorization
3 Fund Selection
4 Portfolio Optimization
Asset Allocation Methodology
We formulate a forward looking Asset Allocation Strategy, taking cues from Strategic and Tactical models.
The Asset Allocation would be based on 2 broad parameters.
1 Risk Profile of the Client
2 Market Dynamics
The strategic asset allocation would be revolved around the Risk Profile of the client while tactical allocations would be based on the Market Dynamics. To ascertain the allocation towards the tactical side, we will look at the Valuation & Momentum Metrics of the Equity Markets.
We use the following 5 data points to gauge the tactical modeling.
1 Trailing PE Ratios of Nifty 50.
2 Index values of Nifty 50.
3 Near month futures for Nifty 50.
4 FII Inflows
5 Volatility
All data points are dated back since 2000, except Volatility.
Appropriate statistical functions are used for the model optimization.
Fund Category Breakup
We view it as a subset of Asset Allocation and a precedent to our Fund Selection Process. This will also be based on the client’s Risk Profile and Market Dynamics, although at a subtle level. For Instance, Index and Large Cap funds within the Equity exposure for client’s whose risk tolerance is low. For Debt, it will more likely be accrual category instead of duration strategy. As the risk tolerance level goes up, the categorization will undergo a change.
Fund Selection Process
The table below explains the Research Methodology followed by us in choosing the funds.
| Parameters | Weightage (in %) |
| Returns | |
| 1 Year | 5 |
| 3 Year CAGR | 10 |
| 5 Year CAGR | |
| 7 Year CAGR | |
| Ratios | |
| Standard Deviation | 10 |
| Sharpe Ratio | 7.5 |
| Sortino Ratio | 7.5 |
| Treynor Ratio | 7.5 |
| Information Ratio | 7.5 |
| Jensen’s Alpha | 7.5 |
| R-Squared | 7.5 |
| Beta | |
| Negative Attributes | |
| Negative Count | 10 |
| Mean Return | 10 |
| Standard Deviation | 10 |
Leading indicators such as YTM, Duration, Sector Exposure also may be used from time to time for refining the fund selection process.
Portfolio Optimization Process
Having chosen the recommended funds, the next step is to decide what percentage should go into a respective portfolio. There again, we use a scientific model viz Mean Variance Optimization. This model will identify portfolios that falls on the Efficient Frontier optimizing the Risk-Return relationship.
Portfolio Presentation
A portfolio fact sheet with the relevant underlying attributes in terms of Return, Risk and Portfolio will be released at a regular frequency. The factsheet will also explain the return attribution, that is what percentage of the portfolio returns has come from Asset Allocation, Scheme Selection etc.
We are confident about the scientific process that we follow and this new methodology will reiterate the extensive research we are anyway doing on specific schemes and portfolios.
NRI Services
India is the second fastest growing economy in the world. GDP Growth rate poised at 8.5%. Consumer spending has increased exponentially in the last decade. FII Contribution to investment in Indian markets comprise 55%.
There are a host of options available for investment- with benefits ranging from
- Liquidity.
- Tax free returns.
- Fixed return income products with specified maturity periods.
- Facilitates to switch between investment options depending on changing market conditions.
Service Execution process
We understand the clients need. We discuss the investment procedures, laws, tax rules pertaining to investments in India and reporting norms. We follow a detailed reporting procedure (for investments made in India) towards U.S tax requirements.
A through discussion on Client’s needs is made, after which risk profiling is undertaken to understand the risk tolerance of the client. We then follow the wealth creation tool as specified by us here.
Please Note
- Investments made through NRE acs are fully repartriable.
- Investments made through NRO acs are not repatriable.
- PAN is mandatory for investors.
- KYC is mandatory for investors.
- The investor must be a Person of Indian Origin (PIO) or his parents and/ or grand parents must have PIO status.
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NRI/RI/RNOR status as per Income Tax Act
You will be considered as Resident Indian(RI) if you fulfill ANY ONE of the below 2 points:-
- You are in India for more than 182 days during that financial year
- You are in India for 365 days or more during 4 financial years preceding that financial year AND 60 days or more in that financial year.
- If you are an Indian Citizen and you go abroad for employment purposes OR as a member of a crew in an Indian ship- the 60 days get replaced by 182 days
- If you are an Indian Citizen or a PIO and your visiting India- the 60 days get replaced by 182 days
If you do not fulfil BOTH of the above points 1 and 2, you will be considered as Non Resident Indian (NRI)
You will be considered as Resident but Not Ordinarily Resident (RNOR) for that financial year if you fulfil any one of the above points 1 or 2 AND if you fulfil any one of the below points 3 or 4:-
- You have been an NRI in 9 out of 10 financial years preceding the year.
- You have been in India for 729 days or less during 7 financial years immediately preceding the year.
Please note:- You are allowed to keep your RNOR status for up to 3 financial years after your return back to India for taxation purposes.
Taxability depending on your status:-
| Taxability | |||
| Status | Income Earned in India | Accrues or Arises in India | Accrues or arises outside India |
| Resident Indian(RI) | Yes | Yes | Yes |
| Non Resident Indian(NRI) | Yes | Yes | No |
| Resident but Not Ordinarily Resident(RNOR) | Yes | Yes | No |
Accrues in India means:-
- Income from a business connection in India.
- Income from any property, asset or source of income in India.
- Capital gain on the transfer of a capital asset situated in India.
- Income from salary if the services are rendered in India.
- Income from salary which is payable to you by the Government of India for services rendered outside of India when you are an Indian citizen.
- Dividend paid by an Indian company even though this may have been paid outside India.
- Interest, royalty or technical fees received from the Central or the State Government or from specified persons in certain circumstances.
Investment Advisory
Investing is only one component of Financial planning, though certainly an important one. We believe that an investment policy statement can be designed only after the initial financial planning process is complete and a target return is established, based on risk profile. We allocate assets among major classes of equity, ETF, bonds and real estate and liquid. Equity is based on large, mid capitalization stocks and further as growth and value stocks. Bonds are based on short, medium, and long term bonds, based on duration of needs.
Taxes represent a significant consideration for every long term investor, By minimizing income taxes, clients retain more wealth to help reach their goals.
We understand that every client has a different risk profile (identified through a psychometric risk profiling test), investment objective and time horizon.
Under investment advisory we tailor our services according to your needs. So at the very inception we work intensively towards bringing greater certainty to outcomes by bringing alignment between your tolerance for risk, your financial aspirations and your investment portfolio. The process is well documented in an investment policy statement and through a consultative approach.
We will implement, manage and reevaluate your portfolio on an ongoing basis.
The fees for managing your portfolio, are a percentage of assets under management.
Once an asset allocation strategy has been determined for a pool of capital through the optimization process, specific investment decisions are made. A carefully selected group of funds is selected to match your risk profile .
Dilzer Consultants offers you a complete range of unbiased solutions within your overall asset allocation after evaluating all the worthy options available in the market to suit your personalized needs.
How awesome does that sound!
Asset Allocation
Too often financial planning is made out to be simpler than it is. Of course, at a level financial planning is relatively uncomplicated. But that does not mean that it’s only about identifying investment objectives and outlining an investment plan that will help you get there. It does involve both these elements of course, but there is an equally important element that is often ignored – Asset Allocation.
As the word suggests, it means distributing your money across various investment avenues or assets so that the poor performance of any one investment does not jeopardise the entire investment plan. As logical as that sounds, it is one of the rarest traits in a financial plan.
- Which asset must you own- most investors would qualify to own all the key assets viz. equities, debt, real estate, gold and cash.
- How much of each asset should you own – is a little tricky, because it will vary from investor to investor. This is where our job comes into play to suggest the optimum allocation of “how much”
One must include a variety of assets in one’s portfolio, since each asset has its own cycle of ups and downs and therefore, the upside of one cycle compensates for the downside of the other cycle and its corresponding asset class.
For eg, if equities are on the upside, gold and real estate normally are lower on the performance radar and vice versa. This is dependent on a variety of reasons of business cycles, inflation, interest rates, oil prices and political situation- some factors within our control and some outside our control.
An illustration below best explains the asset allocation for a young lady with relatively fewer obligations and an older gentleman who is married with kids.
Rita is aged 30yrs and Mr Gupta is aged 50yrs old.
| Asset Class | Rita 30yrs | Mr Gupta 50yrs |
|---|---|---|
| Equities | 60% | 30% |
| Fixed Income | 20% | 45% |
| Property | 10% | 15% |
| Gold | 5% | 5% |
| Cash | 5% | 5% |
Gold and cash become important to counter inflation and provide liquidity at times of emergencies.
The above asset allocation is only indicative and can vary with personal circumstances, needs, liquidity requirements and goals.
Other forms of asset allocation also include investing in metals, commodities, art, and foreign markets like Brazil China, Russia and Korea, that are resource rich economies.
Readjusting and rebalancing asset allocation:
When for instance, the markets go up, the equity portion of his portfolio moves up and needs to be brought down and realigned to suit his original asset percentage choice. Since, the client’s risk appetite remains the same.
What actually happens in realty- unfortunately, is following the herd mentality. If equities are booming, invest in it, even if valuations are high and that is the time to book profits, if real estate is booming, invest in it, even if it were to lock up all your money.
What one fails to understand, is, that no one particular asset class can sustain the Bull Run for long and diversification is the essential ingredient to successful investing.
And of course realigning your original asset choice when there is a change in the underlying asset performance.
Recommended Asset Allocation Table
| Recommended Asset Allocation | 30 yr old | 40 yr old | 50 yr old | 60 yr old |
|---|---|---|---|---|
| Equity | 60% | 40% | 30% | 0 |
| Debt | 20% | 20% | 25% | 60% |
| Commodities/ ETF | 5% | 5% | 5% | 0 |
| Property | 10% | 30% | 30% | 5% |
| Cash/ Liquid | 5% | 5% | 10% | 35% |
| Percentage Total | 100% | 100% | 100% | 100% |
Want us to plan your “Desired” asset allocation after evaluating your “Current” Asset Allocation?
Tax Planning
Tax Planning is a wide, interesting and complex subject.
If done well, tax planning can help plan Individuals and Business’s Wealth, Estate, Business Succession, through effective strategies.
In India both individuals and corporate have differing tax rates, implications and exemptions.
Again for Salaried individuals the tax saving strategies are less compared to self employed individuals, yet they can utilise tax saving strategies. With proper planning, discipline and structuring both salaried and individual tax payers can avail tax deductions and help increase their income benefits.
For protection of assets, income and providing for streamlined cash flows to differently abled children, their are separate options like creation of trust, Letter of Intent, preparation of cash flow planning and financial analysis and claiming income tax deduction benefits from the Government.
For Business owners, business succession is a high priority. Protection of their income, personal assets from creditors and passing on the family heirloom are important considerations.Succession Planning plays an important role for Key business owners and what needs to be done to ensure continuity of business, continuity of management and protecting human capital?
Similarly for HNIs passing on wealth to the next generation requires careful planning.
For NRIs, place of residence, source of income, play a vital role in tax planning and Cross Border Strategies become an important tool to understand the tax status, residency and source of income for taxation. DTTAA have to be studied between both countries to reduce double taxation.
There are many strategies one can utilse for planning their taxes effectively- tax planning strategies, Tax harvesting in equities, tax deferment, Investment planning strategies to reduce tax burden on high income tax payers.
Some eligible tax deductions under Sec 80 C are
- Public Provident fund PPF / EPF/ VPF
- Equity Linked Savings Scheme (ELSS) in mutual funds.
- Post Office investments-
- Principal component of Home loan.
- Tuition fees for child
- Life Insurance and ULIP plans.
- Sukanya Samriddhi Account Scheme
Budget 2015 provided a new tax benefit under Sec 80 CCD(1b) where in an additional investment of Rs 50,000 can be made towards National Pension Scheme (NPS) to reduce tax further. This exemption is over and above the limit of Rs 1,50,000 available under Sec 80 C.
Employees can contribute to Government notified Pension Schemes (like National Pension Scheme – NPS). The contributions can be upto 10% of the salary (or) Gross Income.
(10% of salary is applicable for salaried individuals and Gross income is applicable for non-slaried. The definition of Salary is only ‘Dearness Allowance.’ If your employer also contributes to Pension Scheme, the whole contribution amount (10% of salary) can be claimed as tax deduction under Section 80CCD (2). The ceiling limit of 1.5 Lakh u/s 80CCD is not applicable on employer’s contribution.)
Section 80D
Deduction u/s 80D on health insurance premium will be Rs 25,000, increased from Rs 15000. For Senior Citizens it has been increased to Rs 30,000 from the existing Rs 20,000. For very senior citizen above the age of 80 years who are not eligible to take health insurance, deduction is allowed for Rs 30,000 toward medical expenditure.
Section 24 (B)
You can claim upto Rs 2 Lakh as tax deduction on the home loan interest payment.
Estate Planning and Will Creation
WILL is a legal declaration of a person with respect to his property on how his assets should be distributed according to his choice. The person making the WILL is called a “Testator” Through a WILL a Testator, can dispose off, any property movable or immovable, over which he is a beneficial owner after his death. Why Should I make a WILL If you make your will, you can:
- Bring your financial affairs to order, i.e. review the mode of holding.
- Have Nominations for each of your financial assets and property.
- Remove conflict by giving clear instructions in your inheritance plan.
- decide the beneficiaries to whom you wish to leave your wealth.
Who Can Make a WILL
Irrespective of their religion, anyone over the age of 21 can make a will. Hindus, Jains,Sikhs, Budhists, Parsis and Christians can bequeath all their entire assets by way of a will. Muslims, not married under Special Marriages Act, are allowed to bequeath only one third of their assets while the balance is bequeathed in accordance with Muslim personal laws.
How should a WILL be made?
A WILL must be in writing and should be signed by at least 2 witnesses. A WILL can be revoked or altered at anytime, by the Testator, when any such property is disposed off during his lifetime. However, the same must be communicated in writing. It is not compulsory to register a WILL. However, it is recommended to register a WILL. This would help preserve the WILL. Registration of a WILL is called a “Probate”. A WILL can be registered in the sub registrars office, within whose jurisdiction the immovable property is situated.
Life is uncertain
Life has become increasingly uncertain with people having to battle increasing stress, accidents, new diseases. The impact of this is felt most seriously by single earner families.
Is anyone else aware of the assets you have created?
Too often we have seen that even the person creating the assets is not fully aware of all them – near and dear ones often have no clue leading to a lot of added stress at just the wrong time for the family. Share your knowledge through your Will.
What happens if you do NOT make a Will?
If you do not make a Will, intestate laws apply. These rules vary by gender and religion. For a Hindu married woman, for example, her parents are not Tier 1 heirs and highly probable that they do not receive anything.
A WILL can be challenged on the following grounds
- Sanity
- Under Coercion
- Last and Final
- Authenticity.
A nominee is only a trustee and therefore a WILL supersedes such nominations and having a WILL in place is mandatory, in spite of nominations made. Following are the areas that need a WILL in place, to ensure smooth transmission of assets.
- House
- Bank Account
- Mutual funds
- Insurance companies
- Retirement benefits
When is a Nominee the owner: ( In the following cases, nomination supersedes a WILL)
- Demat Account
- Physical Shares
- Corporate Bonds and Debentures
Some Facts!
- Can a Witness be a Beneficiary: NO!
- Can a witness be an executor: YES.
- Can a beneficiary be an executor: YES.
NEXTGEN TRANSFER WILL AND ESTATE PLANNING SERVICES
Services Offered
Estate audit
Will writing and related services
Trusts & related services
Trust for minor/special child
protection
Bereavement advice
Power Of Attorney (POA) services
Estate planning advisory services
Some Questions on Succession Plan
- Whom have you appointed as Executor of your will – individual or professional executor?
- Are all nominees residents of India? If not, is any nominee a citizen of India?
- Do you have any minor child(ren)? If yes, would you want to appoint a guardian in case of any eventuality or better still, create a trust to manage the financial affairs till the child becomes an adult. This becomes more imperative if you are a single parent.
- Are you married outside your religion? Is your spouse a citizen of a different country?
- Are you and/or your wife re-married? If yes, are there any children from your first marriage?
- Does your estate have inherited property? If yes, is it through a will, family settlement or intestate succession?
- Have you inherited any immovable property? If yes, is the property registered in your name?
- Do you have any offshore assets or trusts
- Do you want to make a gift with a condition attached to it ie a conditional gift?
- Do you think your will is likely to be challenged at the time of execution?
Disclaimer and Disclosure
Disclaimer
A Financial Plan provides a generic direction to your cash flows over a period of time. Your future financial condition may alter due to changes in income/expense patterns, new family commitments, macroeconomic scenario etc. which may prompt you to alter some aspects of your goals and add new goals.
Therefore the Financial Plan and the Cash flows depicted in it should be used to give you a long term direction for managing your personal finances while taking immediate actions as a step towards accomplishing your financial objectives.
Please refer to our Letter of Engagement for more details and terms of contract.
Recommendations are subject to review at the time when you are actually taking action as recommended, because of changes in legal circumstances, economic conditions etc. If considerable time has elapsed since the date of this plan, you should not act on any specific recommendation without further consideration with the planner.
Returns from each recommended investment will vary in line with market conditions and investment policies of the fund manager or the underlying investment structure.
Assumptions are intended as a guide only and should be treated with caution.
Tax details change from year to year, based on Budget and Finance Ministry Guidelines. All recommendations, therefore, should be checked, considering tax implications.
The planner should not be held responsible for the accuracy of the same.
Please do not consider our plan as legal or accounting advice. Most equity/ growth investments are long term in nature and significant variations including capital loss, may occur over shorter periods. Neither the authorized representative nor the company guarantees the performance or return of capital on any of these investments.
Performances of investments are subject to market risks. Past performances of a particular asset class or investment may not be the true indicator of their performance in future.
Recommendations are based on the information you have supplied. If any material information has been withheld or any inaccurate, the recommendations could prove to be inappropriate for you.
An Investment Policy Statement, is always provided with every financial plan, detailing the goals, time horizon, benchmarks, time horizon and recommendations specific to the client.
Validity clause for recommendations made is present, and the client should not consider the same advice beyond validity period.
All Investment Recommendations are made in writing and the client, should confirm action on the same, as proof of concurrence.
While we have made every attempt to ensure that the calculations contained in the Financial Plan are correct and complete, kindly note the plan may contain inaccuracies or errors due the manual-computer interface involved in making the calculations and we expressly exclude liability for any such inaccuracies or errors. In the case where a error or omission is involved, you can request us to rectify the error or omission, we shall do needful.
Views on the market are generic views of Dilzer Consultants Pvt Ltd, and Dilzer Consultants has no privy to information in the market.
All recommendations made are based on independent research and the directors have no stake, or Benefit in specific companies.
Markets are subject to vagaries and volatility, and the views expressed above will change over time. The planner should not be held responsible for the accuracy of the same. Most equity investments are long term in nature and significant variations including capital loss, may occur over shorter periods.
It is important to read the risk factors, scheme information and disclosures of every product recommended.
Neither the authorized representative nor the company guarantees the performance or return of capital on any of these investments.
Disclosure
All recommendations made are backed by research from an external research agency and data is validated. It is at the discretion of the client to implement the Recommendations made by the planner through the distribution arm of our company.
The Planning and distribution arm, are two separate identifiable entities.
If you buy any products from us, that include, mutual funds, insurance, WILL creation, and other products, the distribution arm will earn a commission on the same. The commission rate varies with each product manufacturer and is different for different products.
In addition, the distribution arm, may earn soft benefits of travel and stay at the cost of product manufacturers.
Our advisory team, has the necessary certifications of AMFI, IRDA, for the products that are being recommended.
We do not claim to have expertise on all products, however, we will study the details of every product and state the pros and cons of investing in it.
We may showcase our client’s recommendations on social media, like facebook, linkedin, website (www.dilzer.net)
(C) Dilzer Consultants Pvt Ltd.
Grievance Redressal
Complaint Redressal System
Annexure B
Information regarding Investor Grievance Redressal Mechanism in Accordance with SEBI Circular No. CIR/MIRSD/3/2014 dated 28th Aug 2014
Dear Client,
In case of any Complaints / Grievances against your Investment Advisor.
Please Contact Compliance Division of your Investment Adviser, Ms. Dilshad Billimoria at dilshad@dilzer.net and Phone Number +91 9845023746.
If you are not satisfied with the response, you can contact SEBI through their
Grievance Redressal Portal at http://scores.gov.in or you may also write to any Offices of SEBI.
For any Queries, feedback or assistance, Please Contact SEBI Office on Toll free Helpline at 1800 22 7575 / 1800 266 7575
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