Financial planners are known to help individuals, businesses to strategize and build wealth. Money management is their niche; they view details like an artist and factualist like a scientist. With a bevy of experience that precedes their decision-making skills, what do financial advisors do when it comes to their own portfolio? What are the rules they follow? 

Do they really have a secret to their long lasting success?

Are you as curious to know, learn and adapt some of their mantra? Everyone wants to know the secret to an actress’s fitness and skin care routine. The recipe of a cricketer’s successful performance. A behind the scenes success story of a businessman who has built his brand from rags to riches. We decided to unveil what financial advisors do, when it comes to investing for personal growth. 

Let’s delve further to understand what a financial advisor stocks in their closet. 

1. Capsule Wardrobe

Financial advisors focus on scoring the essentials in their portfolio sans the dramatic adds on. They diversify their investments to ensure irrespective of economic changes and fluctuations, their goals are covered. You’ll always find an emergency corpus, a staple retirement corpus strategy and action plan. Following the 100-age rule, investments follow a debt to equity savings ratio. Overall savings and investments are aligned to financial goals, beat inflation and are duly personalized to ensure a perfect fit. 

2.  Trim the fads

When managing money, financial advisors pay key attention to goals over market sentiments. They save, invest with a strategy and deliverable in mind. One key rule they follow is to not be influenced by a fad but to power their investments and regularly review them. 

3.  Styled to perfect fit

Financial plans and money management are much like clothing; one size does not fit all! Moreover just because it’s trending and looks good on someone else, it may not be the best choice for you. You dress up and accessorize to enhance your facial features. Similarly finances need to be dressed, sized and stitched to suit your life plan. 

4. Future-Forward Choices

Traditional choices are good. Having gold stocked and cash stashed in wardrobes may have worked then. But times have changed, fashion has evolved and so have financial planning strategies. Financial advisors opt for saving instruments that earn them more than the inflation rate, are future proof and within easy access. Gold is always a good choice but not the best place to invest heavily. Real estate requires a thorough check of financial standing before you commit. One needs to evaluate the value of wealth a few years down the line. Financial planners understand the importance of made-to-measure, sustainable choices over outdated and comfort that comes with being financially secured and free.

We asked our in-house experts what is the one strategy they personally apply and advice:

1. Focus on Wealth Accumulation – Before you invest, ask yourself why you are investing. Every financial decision should be fuelled thoughtfully and with intent. Don’t be distracted by fast fashion even in finance, focus on building wealth. 
2. Health is Wealth, make sure you are adequately insured – Not more than you need, not lesser than you require, make sure you have term insurance in your portfolio. 
3. Invest systematically – Making your money work for you is consistent work. You have to keep adding new pieces whilst keeping the timeless investments in check.