International Journal For Multidisciplinary Research

E-ISSN: 2582-2160   •   Impact Factor: 9.24

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Role of Financial Advisors in Guiding Investment Choices Between Ulips and Mutual Funds: Evidence from Southern Rajasthan

Author(s) Narsi Singh Gurjar, Dr. Kamlesh
Country India
Abstract In the evolving Indian financial ecosystem, retail investors often face complexities in selecting appropriate investment instruments, particularly between Unit Linked Insurance Plans (ULIPs) and Mutual Funds. This study examines the role of financial advisors in shaping investor preferences between these two market-linked products, with a specific focus on the semi-urban region of Southern Rajasthan. A descriptive research design was adopted, and data were collected through a structured questionnaire from 200 retail investors, including 97 ULIP holders and 103 Mutual Fund investors who had interacted with financial advisors. The findings show that advisors play a major role in shaping investment choices, with a noticeable tendency to guide investors towards Mutual Funds. Advisors make financial decisions easier to navigate, yet worries remain about partial recommendations and the limited awareness many investors have of product features. The study points to the importance of tighter regulatory oversight, broader financial education, and greater transparency in advisory practices to ensure protection and support well-informed decisions. Statistical analysis showed that advisor influence, clarity, and bias are closely connected. While advisors increase financial understanding, they can also raise doubts about fairness when their guidance seems driven by commissions. Furthermore, Mutual Fund investors noted stronger advisor influence, a clearer grasp of product details, and a higher sense of bias compared with those investing in ULIPs
Keywords Financial Advisors, ULIPs, Mutual Funds, Investor Preferences, Semi-Urban Finance, Southern Rajasthan
Field Business Administration
Published In Volume 7, Issue 6, November-December 2025
Published On 2025-12-18
DOI https://doi.org/10.36948/ijfmr.2025.v07i06.63764
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E-ISSN 2582-2160
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