How are these SIPs?

I am investing via the following two SIPs:
ICICI Prudential Banking and Financial Services Fund – (Growth)
ICICI Prudential Child Care Plan – Gift Plan
How are these SIPs? I am investing Rs 5,000 in each. I would also like to know whether Motilal Oswal MF is a good advisor when it comes to mutual funds. Should I follow the funds that they suggest?
--Abhilash Gadekar

Vishal Dhawan, Founder, Plan Ahead Wealth Advisors, responds:

ICICI Prudential Banking and Financial Services Fund is a sector fund. And sector funds are designed for aggressive investors, who seek exposure to a particular sector for a small portion of their portfolio. Since your portfolio does not have any diversified equity funds, it may not be suitable for your portfolio. It may therefore be advisable that you look at a diversified equity fund, that has a good long-term track record like HDFC Equity Fund or Franklin India Prima Plus Fund.

Your choice of advisor depends on the kind of services that you need, and that how much do you wish to pay for the advisory services. You can consider multiple options before you decide as to which advisor shall be the most suitable as per your needs.