Bangalore: People generally depend on TV and print when it comes seeking advises on financial matters. But this practice is soon going to undergo a change as many companies like ICICI Securities, U.S.-based Ameriprise Financial are stepping into the market and offering financial planning services to individuals. The companies are likely to charge around 10, 000 to 20,000. Big players like Ameriprise and ICICI Securities are offering services at a lower price, for instance, ICICI Securities will charge 5000 upwards, while Ameriprise starts with 7,500. But the confusion here is: Which is the better option: to go with a big institutional planner or an individual planner? Shankar S, an individual certified financial planner said, "Large players score on standardization and technology platforms, while individual planners score on personalized approach." Financial Planning- What is it? It would be smart of you to decide the business plan first, instead deciding on size of the planner. The process involves assessment of assets and liabilities, setting up objectives, approximation of future earnings and financial needs and most importantly, coming up with a detailed plan to meet your financial goals. A financial planner is no one but an investment professional that helps you construct a sound financial plan. You can then start off with investing money in specific products to meet up with your goals, basing on your plans. These planners are also at your service to draw up a financial plan for you. Some planners also help you execute your transactions through them. Both the techniques comes with pros and cons. For instance, the professional who draws up a plan for you would be free of any interest as he is not trying to sell any product to you to earn more commission. Yet, if you hesitate in executing the plan, the entire point is beaten. This is where the planner who also offers execution of the plan scores.