{"id":1753,"date":"2021-10-20T19:51:28","date_gmt":"2021-10-20T14:21:28","guid":{"rendered":"https:\/\/www.myfinad.com\/blog\/?p=1753"},"modified":"2021-10-20T20:10:54","modified_gmt":"2021-10-20T14:40:54","slug":"the-ad-hoc-advisor-syndrome","status":"publish","type":"post","link":"https:\/\/www.myfinad.com\/resources\/2021\/10\/20\/the-ad-hoc-advisor-syndrome\/","title":{"rendered":"The Ad Hoc Advisor Syndrome"},"content":{"rendered":"\n<div class=\"wp-block-image\"><figure class=\"alignleft size-large is-resized\"><img decoding=\"async\" data-attachment-id=\"1754\" data-permalink=\"https:\/\/www.myfinad.com\/resources\/2021\/10\/20\/the-ad-hoc-advisor-syndrome\/istockphoto-1165504168-170667a\/\" data-orig-file=\"https:\/\/www.myfinad.com\/resources\/wp-content\/uploads\/2021\/10\/istockphoto-1165504168-170667a.jpg\" data-orig-size=\"416,416\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Getty Images\/iStockphoto&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;Tax concept w percentage paid, icon and income idea. Flat vector outline illustration.&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"istockphoto-1165504168-170667a\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Tax concept w percentage paid, icon and income idea. Flat vector outline illustration.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.myfinad.com\/resources\/wp-content\/uploads\/2021\/10\/istockphoto-1165504168-170667a.jpg\" src=\"https:\/\/www.myfinad.com\/resources\/wp-content\/uploads\/2021\/10\/istockphoto-1165504168-170667a.jpg\" alt=\"\" class=\"wp-image-1754\" width=\"132\" height=\"132\" srcset=\"https:\/\/www.myfinad.com\/resources\/wp-content\/uploads\/2021\/10\/istockphoto-1165504168-170667a.jpg 416w, https:\/\/www.myfinad.com\/resources\/wp-content\/uploads\/2021\/10\/istockphoto-1165504168-170667a-300x300.jpg 300w, https:\/\/www.myfinad.com\/resources\/wp-content\/uploads\/2021\/10\/istockphoto-1165504168-170667a-150x150.jpg 150w\" sizes=\"(max-width: 132px) 100vw, 132px\" \/><\/figure><\/div>\n\n\n\n<p><strong>WHAT A DOCTOR THINKS?<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>My C.A., Bank RMs, Stockbroker, Insurance Agents and known family members having any finance background are all <em>financial advisors.<\/em><\/li><\/ul>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignright size-large is-resized\"><img decoding=\"async\" data-attachment-id=\"1755\" data-permalink=\"https:\/\/www.myfinad.com\/resources\/2021\/10\/20\/the-ad-hoc-advisor-syndrome\/522835-piyd9y-533\/\" data-orig-file=\"https:\/\/www.myfinad.com\/resources\/wp-content\/uploads\/2021\/10\/522835-PIYD9Y-533.jpg\" data-orig-size=\"2000,2000\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"522835-PIYD9Y-533\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.myfinad.com\/resources\/wp-content\/uploads\/2021\/10\/522835-PIYD9Y-533-1024x1024.jpg\" src=\"https:\/\/www.myfinad.com\/resources\/wp-content\/uploads\/2021\/10\/522835-PIYD9Y-533-1024x1024.jpg\" alt=\"\" class=\"wp-image-1755\" width=\"164\" height=\"164\" srcset=\"https:\/\/www.myfinad.com\/resources\/wp-content\/uploads\/2021\/10\/522835-PIYD9Y-533-1024x1024.jpg 1024w, https:\/\/www.myfinad.com\/resources\/wp-content\/uploads\/2021\/10\/522835-PIYD9Y-533-300x300.jpg 300w, https:\/\/www.myfinad.com\/resources\/wp-content\/uploads\/2021\/10\/522835-PIYD9Y-533-150x150.jpg 150w, https:\/\/www.myfinad.com\/resources\/wp-content\/uploads\/2021\/10\/522835-PIYD9Y-533-768x768.jpg 768w, https:\/\/www.myfinad.com\/resources\/wp-content\/uploads\/2021\/10\/522835-PIYD9Y-533-1536x1536.jpg 1536w, https:\/\/www.myfinad.com\/resources\/wp-content\/uploads\/2021\/10\/522835-PIYD9Y-533.jpg 2000w\" sizes=\"(max-width: 164px) 100vw, 164px\" \/><\/figure><\/div>\n\n\n\n<p><strong>WHAT A DOCTOR DOES?<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Invests as and when based on his need and tips received.<\/li><li>Gets advice from different people and many a time takes decisions based on what he reads and hears.<\/li><\/ul>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignleft size-large is-resized\"><img decoding=\"async\" data-attachment-id=\"1756\" data-permalink=\"https:\/\/www.myfinad.com\/resources\/2021\/10\/20\/the-ad-hoc-advisor-syndrome\/doctorshakingbusinessmanhand-vectormedicalillustration\/\" data-orig-file=\"https:\/\/www.myfinad.com\/resources\/wp-content\/uploads\/2021\/10\/shutterstock_567816079-scaled.jpg\" data-orig-size=\"2560,2560\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Shutterstock&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;Copyright (c) 2017 Irina Strelnikova\/Shutterstock.  No use without permission.&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;Doctor,Shaking,Businessman,Hand.,Vector,Medical,Illustration&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Doctor,Shaking,Businessman,Hand.,Vector,Medical,Illustration\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.myfinad.com\/resources\/wp-content\/uploads\/2021\/10\/shutterstock_567816079-1024x1024.jpg\" src=\"https:\/\/www.myfinad.com\/resources\/wp-content\/uploads\/2021\/10\/shutterstock_567816079-1024x1024.jpg\" alt=\"\" class=\"wp-image-1756\" width=\"159\" height=\"159\" srcset=\"https:\/\/www.myfinad.com\/resources\/wp-content\/uploads\/2021\/10\/shutterstock_567816079-1024x1024.jpg 1024w, https:\/\/www.myfinad.com\/resources\/wp-content\/uploads\/2021\/10\/shutterstock_567816079-300x300.jpg 300w, https:\/\/www.myfinad.com\/resources\/wp-content\/uploads\/2021\/10\/shutterstock_567816079-150x150.jpg 150w, https:\/\/www.myfinad.com\/resources\/wp-content\/uploads\/2021\/10\/shutterstock_567816079-768x768.jpg 768w, https:\/\/www.myfinad.com\/resources\/wp-content\/uploads\/2021\/10\/shutterstock_567816079-1536x1536.jpg 1536w, https:\/\/www.myfinad.com\/resources\/wp-content\/uploads\/2021\/10\/shutterstock_567816079-2048x2048.jpg 2048w\" sizes=\"(max-width: 159px) 100vw, 159px\" \/><\/figure><\/div>\n\n\n\n<p><strong>WHY COULD THIS BE A MISTAKE?<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Advice is taken randomly or only when asked or needed. In the name of advice, investments are done randomly.<\/li><li>Investments are done without considering suitability to the doctor&#8217;s life situation, risk appetite and goals.<\/li><li>Ending up with a portfolio which is a hotchpotch of investment products such as Insurance, Fixed Deposits, Stocks, PMS, Mutual Funds, Properties etc.<\/li><li>Gets taken for a ride as most investment advisors sell high commission investment products.<\/li><\/ul>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignright size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1757\" data-permalink=\"https:\/\/www.myfinad.com\/resources\/2021\/10\/20\/the-ad-hoc-advisor-syndrome\/a4-inserts_v13_right-way-of-seeking-advice_low-res-1-1\/\" data-orig-file=\"https:\/\/www.myfinad.com\/resources\/wp-content\/uploads\/2021\/10\/A4-Inserts_v13_Right-Way-of-Seeking-Advice_Low-res-1-1.jpg\" data-orig-size=\"839,531\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"A4-Inserts_v13_Right-Way-of-Seeking-Advice_Low-res-1-1\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.myfinad.com\/resources\/wp-content\/uploads\/2021\/10\/A4-Inserts_v13_Right-Way-of-Seeking-Advice_Low-res-1-1.jpg\" src=\"https:\/\/www.myfinad.com\/resources\/wp-content\/uploads\/2021\/10\/A4-Inserts_v13_Right-Way-of-Seeking-Advice_Low-res-1-1.jpg\" alt=\"\" class=\"wp-image-1757\" width=\"299\" height=\"189\" srcset=\"https:\/\/www.myfinad.com\/resources\/wp-content\/uploads\/2021\/10\/A4-Inserts_v13_Right-Way-of-Seeking-Advice_Low-res-1-1.jpg 839w, https:\/\/www.myfinad.com\/resources\/wp-content\/uploads\/2021\/10\/A4-Inserts_v13_Right-Way-of-Seeking-Advice_Low-res-1-1-300x190.jpg 300w, https:\/\/www.myfinad.com\/resources\/wp-content\/uploads\/2021\/10\/A4-Inserts_v13_Right-Way-of-Seeking-Advice_Low-res-1-1-768x486.jpg 768w\" sizes=\"(max-width: 299px) 100vw, 299px\" \/><\/figure><\/div>\n\n\n\n<p><strong>WHAT IS THE SOLUTION?<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Seek professional help from a <strong>Real Financial Coach.<\/strong><\/li><li>Ask pointed questions like, &#8220;Will you take care of all my financial decisions? What is your motivation to work? What are you promising to deliver?&#8221;<\/li><\/ul>\n\n\n\n<p>If you were to paint your house, would you get the job done by one person or get each room painted by different people! Just the same way, <em>DO NOT<\/em> take advice from different people. They do not have an in-depth idea about your needs, your goals, your financial situation and hence the advice is like a band-aid..<em>.temporary.<\/em><\/p>\n\n\n\n<p><em>DO NOT <\/em>blindly follow others! Just as one medicine need not suit all patients, similarly a particular Investment vehicle may not be suitable for one and all.<\/p>\n\n\n\n<p>The author &#8211; Meena Shriram, Head &#8211; Doctor Practice and Financial Coach at MFA.<\/p>\n<p><span class='st_facebook_hcount' st_title='The Ad Hoc Advisor Syndrome' st_url='https:\/\/www.myfinad.com\/resources\/2021\/10\/20\/the-ad-hoc-advisor-syndrome\/' displayText='share'><\/span><span class='st_twitter_hcount' st_title='The Ad Hoc Advisor Syndrome' st_url='https:\/\/www.myfinad.com\/resources\/2021\/10\/20\/the-ad-hoc-advisor-syndrome\/' displayText='share'><\/span><span class='st_email_hcount' st_title='The Ad Hoc Advisor Syndrome' st_url='https:\/\/www.myfinad.com\/resources\/2021\/10\/20\/the-ad-hoc-advisor-syndrome\/' displayText='share'><\/span><span class='st_sharethis_hcount' st_title='The Ad Hoc Advisor Syndrome' st_url='https:\/\/www.myfinad.com\/resources\/2021\/10\/20\/the-ad-hoc-advisor-syndrome\/' displayText='share'><\/span><\/p>","protected":false},"excerpt":{"rendered":"<p>WHAT A DOCTOR THINKS? My C.A., Bank RMs, Stockbroker, Insurance Agents and known family members having any finance background are all financial advisors. WHAT A DOCTOR DOES? Invests as and when based on his need and tips received. Gets advice from different people and many a time takes decisions based on what he reads and [&hellip;]<\/p>\n<p><span class='st_facebook_hcount' st_title='The Ad Hoc Advisor Syndrome' st_url='https:\/\/www.myfinad.com\/resources\/2021\/10\/20\/the-ad-hoc-advisor-syndrome\/' displayText='share'><\/span><span class='st_twitter_hcount' st_title='The Ad Hoc Advisor Syndrome' st_url='https:\/\/www.myfinad.com\/resources\/2021\/10\/20\/the-ad-hoc-advisor-syndrome\/' displayText='share'><\/span><span class='st_email_hcount' st_title='The Ad Hoc Advisor Syndrome' st_url='https:\/\/www.myfinad.com\/resources\/2021\/10\/20\/the-ad-hoc-advisor-syndrome\/' displayText='share'><\/span><span class='st_sharethis_hcount' st_title='The Ad Hoc Advisor Syndrome' st_url='https:\/\/www.myfinad.com\/resources\/2021\/10\/20\/the-ad-hoc-advisor-syndrome\/' displayText='share'><\/span><\/p>","protected":false},"author":46,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[23],"tags":[],"class_list":["post-1753","post","type-post","status-publish","format-standard","hentry","category-rx-insights-2"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p2k6Pa-sh","jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myfinad.com\/resources\/wp-json\/wp\/v2\/posts\/1753","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myfinad.com\/resources\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myfinad.com\/resources\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myfinad.com\/resources\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myfinad.com\/resources\/wp-json\/wp\/v2\/comments?post=1753"}],"version-history":[{"count":9,"href":"https:\/\/www.myfinad.com\/resources\/wp-json\/wp\/v2\/posts\/1753\/revisions"}],"predecessor-version":[{"id":1766,"href":"https:\/\/www.myfinad.com\/resources\/wp-json\/wp\/v2\/posts\/1753\/revisions\/1766"}],"wp:attachment":[{"href":"https:\/\/www.myfinad.com\/resources\/wp-json\/wp\/v2\/media?parent=1753"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myfinad.com\/resources\/wp-json\/wp\/v2\/categories?post=1753"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myfinad.com\/resources\/wp-json\/wp\/v2\/tags?post=1753"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}