My Certified Financial Planner took a look at my financial goals and came up with some debt and equity funds I could invest in. A few months later I saw a newspaper article where another financial planner recommended some of those same funds.
Thoughts that came to mind:
1. If all financial planners got their information about the best funds from some common source, then what source could that be?
2. Is it really worth paying someone a fee for this because I could just look up websites like Value Research or Money Control and decide.
3. Stock markets are quite unpredictable anyway, so even a financial planner won't be able to predict the future of a fund (My CFP recommended a fund which is giving just 6.5% interest, but my CFP recommends I continue with it because their teams research indicates it is worth sticking to it. Nothing was revealed about their "research" though. How can I trust that?!).
How does a financial planner's choice and advice on fund investment add value when I could have looked it up and decided it myself? What kind of research do they do when they make these decisions?