Picking style

A former guitar teacher of mine said that the way i hold my pick is all wrong. I use both my middle and index finger to hold the pick. Will this effect me at all latter on playing as opposed to just using my index finger?

JUST the middle and index??? Or the index, middle and thumb? Because then you're just holding it the acoustic way. It won't really effect you, it's just that for electric guitar it's easier to execute techniques when you hold it on the side of your index and your thumb alone.

there really is no 'wrong' way to hold a pick unless it hinders your playing, otherwise, what works works(but its gotta work)

carlsnow is right, no wrong way to hold the pick. I usually hold it the Eddie Van Halen way, middle and thumb.