New Delhi, Oct. 12 -- Choosing a financial advisor is only the first step in managing your money. As an investor's income, financial goals and responsibilities change, the advice they receive must evolve too. But if conversations increasingly revolve around buying new financial products rather than reviewing existing investments, it may be time to reassess the relationship.

A financial advisor should help investors make informed decisions based on their financial goals, risk appetite and investment horizon. The relationship should also involve regular portfolio reviews, clear explanations of recommendations and transparency about costs. When these elements are consistently missing, investors may need to consider whether their advisor is ...