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Yes, a good advisor play a vital role in ones financial life. But my experience says when people come to you they have already lost valuable time and are frustrated lot.It is quite heartening to take a call in certain cases..

The powers that decide, the public, so called educated people and affluent customers think/feel that Bank is the right place to go for financial advice, they are professionals and and individual agent is not. They give unbiased advise and agents sell for commission. But the targets for employees, very poor knowledge, unwillingness to service and blind faith of the customers in the Banks plus tactics like selling something with home loan, other loans is the reason behind this.

Happened to me a few years back. I was in India on vacation and had been to my local bank branch of a reputed private bank. The branch manager asked me to open a fixed deposit and when I told him that I was in a hurry he promised to send the paperwork to my home the next day all filled up and all I had to do was sign. I have had an account with this bank since 1997. I trusted the bank and signed the forms. Only a few weeks later, after I had come back to New York, did I realise that I had opened an insurance policy with the Life Insurance affiliate of this bank!! I promised never again to do any new business with any Indian Bank.