Jago Investor Financial Planning Services Review 2019

[Last Updated: March 2019]

I have been earning for almost 12+ years now.

Throughout this period, I have been actively managing my personal finances.

But it was only in April 2018 when I thought of getting my portfolio reviewed by a trusted fee based personal financial planner.

While I was confident of my overall financial health, I had few questions where I was looking for an unbiased opinion:-

  • I have a term life insurance plan of 1 crore from Aegon. Is the cover sufficient or do I need to increase the sum assured?
  • Do I need to increase my health insurance coverage? At present, I hold a family floater plan from ICICI Prudential.
  • I had few long term financial goals for which I was investing actively via SIPs. However, I wasn’t sure if my existing rate of investment would suffice in me achieving those financial goals.
  • Over the years, I have over diversified and invested in more than 15 mutual funds. I wasn’t too sure which ones to keep and which ones to exit from. Though I was sure that I was diminishing my returns by spreading myself too thin.

With these questions in mind, I approached few personal financial planners to avail their advisory services and finally zeroed down on JagoInvestor.

I have been following their blog for couple of years now and I think it’s one of the top financial planning blogs in India.

But the thing that impressed me was that their consultative sales model.

You actually get to try a part of their financial planning service for free before you have to pay them in full. [Update: This free no risk look-in option is not offered now]

Building end customer trust and confidence is extremely important in financial industry and JagoInvestor nails that with their process.

Below is the 4 step process and a detailed review of their financial planning process.

Detailed review of Jago Investor’s financial planning services:-

Step 1: Get into an introductory call with Jago Investor’s Certified Financial Planner (CFP)

[Update: Step 1 has now been discontinued by Jago Investor]

Once you fill up the basic form on JagoInvestor’s website, you will be contacted by their financial planner over an email (as shown below).

Intro email from Jagoinvestor

Good thing is that no sales happen at this point.JagoInvestor Financial Planning Dashboard

The certified financial planner just explains to you the process and encourages you to fill up your financial data to kick start the process.

I was provided with an excel sheet in which I had to fill up my information.

I think they have now digitized the process and everything happens through a secured login on their website.

Once data is submitted, the financial advisor provides free financial counseling on 3 basic parameters of health insurance, life insurance and financial goals (out of the 15 parameters shown in the image on your right).

The idea is to give you an experience of their service for free.

Till now, everything is for free and is on as-is basis (i.e. you are not cross-questioned but just provided with an analysis based on the data that you submit).

You are good to walk away with the advice if you don’t like it.

MY SUGGESTION

Whether you are just starting your financial life or have been earning for decades now, go for Jago Investor’s free consultation session.

You will get to know what approach to take on the 3 critical aspects of your financial life.

[Click here to book your FREE CONSULTATION SESSION.]

 

 

Step 2: Make the payment

If you like their free advice, you can proceed to avail their paid service. [Update: No free advice is offered now.]

As part of the paid service, they will do a detailed analysis of your financial health and offer you an end to end investment advice.

The paid plans start from INR 4,999 and goes till INR. 17,499.

Based on your needs, you can chose the plan.

[Don’t forget to claim your exclusive 10% discount. Use this link to get in touch with the team at Jago Investor].

Jago Investor Service plans

 

Step 3: Detailed discussion of your personal financial data

This is the most important step in the entire financial planning exercise.

Once you avail any of the paid services mentioned above, your data will be thoroughly validated to point out inconsistencies, if any.

The financial planner will question you across multiple points (shown in the image below) to understand your investing psychology, risk appetite and financial goals.

Data points collected by Jago Investor

Based on your inputs, you may be asked to revise your financial data.

Once done, JagoInvestor builds a model portfolio for you (not part of the Starter Package).

See below the performance of my existing portfolio- in red vs. the model portfolio that JagoInvestor proposed [as of March 2018].

MutualFund Portfolio performance_Jagoinvestor

The working process is as follows:-

  • Understanding your financial goals and requirements
  • Analyzing the current data and highlighting the concerns
  • Re balancing portfolio, if required
  • Highlighting the advantages of the recommended portfolio

Financial Scorecard and Report

 

How to read Jagoinvestor financial analysis scorecard

As mentioned earlier, I had few questions in my mind where I got very clear answers from Jago Investor.

I am writing their recommendations below against each questions:-

Q. Do I need to increase my life insurance coverage? Currently I have a term life plan of 1 cr from Aegon.

A. My current financial assets plus existing insurance coverage was more than enough to take care of my family in case of eventualities.

I was suggested not to buy any additional life insurance.

In fact, the financial planner was pleasantly surprised to see my unit cost of life insurance (per lakh of coverage) lower than most of his other clients (thanks to me buying a life term cover when I was still 25).

Life insurance costs by JagoInvestor

Q. Shall I increase my health insurance coverage further? At present, I hold a family floater plan from ICICI Prudential. 

A. Again, I was sufficiently insured here and it was recommended not to put any further money in health insurance.

Q. I had few financial goals for which I was investing actively via SIPs. However, I wasn’t sure if my existing quantum of investments would suffice in achieving those goals.

A. This was indeed an eye opener.

Like any human being, I had big expectations from my financial goals whereas my investments were not sufficient to meet those goals.

I now know how much I need to increase my income and investments if I have to meet my financial targets.

Q. Over the period of time, I have over diversified and invested in more than 15 mutual funds. I wasn’t too sure which ones to keep and which ones to exit from, though I was sure that I am diminishing my returns by spreading myself too thin. 

A. The recommendation here was to stop my existing SIPs and switch to other mutual funds.

Primary reason was that the volatility of my existing portfolio was higher than the model portfolio suggested to me.

On top of this, I was suggested to purge some of investments as well.

 

Step 4: Action plan and execution

This is the best part of the entire exercise where you witness the action.

JagoInvestor not just reviews the portfolio but also suggests you the best life/health insurance plans for your needs.

They also advise you on the best investment vehicles for your financial goals, including mutual funds.

However, they don’t recommend individual stocks since they are not into stock broking.(By the way, do read my blog post where I give you a quick sneep into my stock portfolio).

You are free to accept their advice or ignore it.

Also, while they offer you their own mutual fund platform, you are free to chose your own platform with almost zero resistance from their side.

As a case in point, I was planning to move from ICICI to a direct mutual fund platform.

The financial planner at Jagoinvestor was very honest in accepting that what they offer are regular plans of mutual funds, and for Direct plans I should look for some other option. (Ultimately I settled for Kuvera, read my detailed review of Kuvera here).

→ Get 10% off with Jago Investor ←

Conclusion

Financial industry is a tricky business and it needs lot of conscious effort to build consumer trust.

JagoInvestor is definitely one such brand which has build a strong reputation for its services.

The winning points for JagoInvestor include excellent customer service, impeccable communication, unbiased advise and 100% transparency during the entire financial planning exercise.

Whether you have an existing portfolio or just starting new, Jago Investor can help you identify and set the right framework for financial success.

Lastly, I have brokered a deal with JagoInvestor for the readers of my blog.

The investment for their financial planning services start from INR. 4,999 and goes upto INR. 17,499, but if you go through this link, you get a discount of 10% on their fee.

Happy investing, and do leave your experience with Jago Investor in the comments below.

4 thoughts on “Jago Investor Financial Planning Services Review 2019”

  1. Hello Tushar…

    Thank you very much for the input.
    I am a Jago investor member and wanted to take up the financial package. Your blog has provided me enough confidence to take up my decision. Thankyou once again.

    Regards,
    Aditya.

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