Foresight Financial Advisory Celebrates One Year of Helping You Make Smarter Money Moves
Newzdaddy Business Updates
Ahmedabad, 13th October 2023 – It’s been a year of dedicated financial guidance, and Foresight Financial Advisory (FFA), led by Mr. Dishit Parekh, CA CFPCM, is celebrating its first year anniversary. This Ahmedabad-based financial planning and advisory firm focuses on offering transparent financial advice and planning, helping individuals, families, and small business owners achieve their financial goals while aligning them with their personal values.
Foresight Financial Advisory stands out from the crowd by working on a fee-only basis. Unlike many advisors who earn commissions from selling financial products, FFA provides unbiased advice that genuinely helps you reach your financial aspirations. They offer financial leadership, tailored guidance, and management that matches your unique situation and commitments. As your life gets more complex, so do the financial decisions you need to make.
Mr. Dishit Parekh, CA CFPCM, the founder of Foresight Financial Advisory, is committed to providing comprehensive financial advice. He has earned some of the industry’s highest qualifications, ensuring that clients receive the guidance they need. He shares, “In the past year, we have dedicated ourselves to helping individuals and families achieve their financial goals. As a team of experienced financial advisors, we have navigated the complexities of the financial world, providing personalized advice and tailored solutions to our clients. We have grown both in terms of the number of clients we serve and the expertise we bring to the table. We have developed strong relationships with our clients and seen their financial situations improve as a result of our guidance.”
Our Experiences from the Past Year:
Life Insurance:
Currently, only about 25% of the Indian population has adequate life insurance coverage. Many young working individuals are unaware of the importance of life insurance and its various types. FFA emphasizes the significance of obtaining a Term Plan as soon as you start earning, as it offers lower premiums at a younger age. Fixed annuity plans are also recommended for securing tax-free returns over the long term.
Investing / Mutual Funds:
Mutual Funds are a great way to build wealth over time, providing returns that outpace inflation, rupee cost averaging, and professional fund management. However, over 80% of mutual fund investments come from the top 30 cities, leaving many potential investors in smaller cities missing out. It’s essential to shift the focus from quick returns to long-term investing with a clear purpose and goals attached to your investments.
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Lessons from a Year of Operations:
- Financial Literacy is Essential: Many people lack fundamental financial knowledge, making it crucial to educate ourselves about managing money.
- Patience is a Virtue: Creating wealth takes time. Avoid the temptation of quick money schemes and focus on long-term, calculated investments.
- Involving Family: It’s crucial to involve your family, especially your spouse, in financial matters, regardless of whether you’re the primary breadwinner.
My Personal Recommendations:
If you’re looking to secure your financial future, consider these four key elements:
- Term Plan: Start with a term life insurance plan to protect your loved ones.
- Health Insurance: Ensure you have health coverage to manage medical expenses.
- SIP in Equity Mutual Funds: Invest regularly in mutual funds for long-term wealth creation.
- Emergency Funds: Always have a financial safety net for unexpected expenses.
In summary, Foresight Financial Advisory has marked its first year of providing valuable financial advice, focusing on informed, purposeful investments, and celebrating the growth and improved financial situations of its clients. As we move forward, it’s essential to educate ourselves, be patient, and involve our families in financial planning to secure a brighter financial future.
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