New Delhi, Sept. 30 -- Building a portfolio is relatively straightforward when the number of financial decisions is limited. But as wealth grows, so does the cost of getting those decisions wrong. Asset allocation, taxes, insurance, debt, liquidity and long-term goals can start interacting in ways that are difficult to manage on your own.

There is no fixed corpus at which an investor must hire an investment adviser. However, experts say investors with Rs.25 lakh to Rs.50 lakh or more may start finding professional advice more useful, particularly when their finances become complex. The need for advice, however, can arise much earlier depending on an investor's goals, income, liabilities, family responsibilities and investment experience....