We have generally seen people buy financial products without understanding their Financial Responsibilities and when the Financial need arises they end up realising what they planned for is not enough, Also mostly people take financial advice from a family member, CA, Insurance Advisor, Friends who may or may not be qualified enough to give holistic advice, Our financial planners often come across people who are mostly dumped with complicated products & schemes they don't understand and that have nothing to do with their needs & requirements, Many people land up with investments that are either too scattered or particularly heavy in one asset class. Due to lack of time & knowledge, most people are unaware of diversifying investments into various asset classes.