Having been in financial distribution business for over a decade, Himanshu Dani has seen many important changes in the fund industry. Recently, he has changed his business model from distribution to financial planning as he feels that the future is in financial planning. It has been a challenge for him to change his model because he is charging clients for making a comprehensive financial plan whereas earlier he was compensated by the fund house for selling their products.
To overcome client resistance, he has started making a personal presentation to the client highlighting the benefits of financial planning - goal based planning, retirement planning etc. He keeps the presentation short and crisp so that it is easy for clients to grasp the significance of financial planning. Dani has recently tied–up with Ffreedom Financial Planners to reach corporate employees for financial planning. He feels that the association with Ffreedom will help him sharpen his professional skill-sets and also open doors to corporate employees. “Most of the corporate employees are unaware about financial planning and to approach them you need a professional guide. Therefore our association with Ffreedom will help us get access to some of the senior level executives who understand the need for financial planning and are not reluctant to pay for the service,” said Dani.
He is satisfied that he has been able to make investors realise a. the fact that financial planning is the organised way to go ahead with investment and b. investors have to pay for getting a financial plan drawn up..
Online Transaction is a win-win situation for both- clients and advisors: Vinayak Sapre
Vinayak Sapre is facing a challenge in hiring the right talent for his fledgling advisory business. In the absence of any manpower to execute investments, he is promoting online transactions among his clients.
The biggest challenge Vinayak Sapre has been facing ever since he started his financial advisory practice is hiring and retaining the right talent. He feels that it is difficult to find qualified and skilled employees to grow his business. So, he has taken the online route to stay connected with clients.
To this end, he introduces his website www.vvsventures.com to his new clients so that they are confident of conducting their transactions on their own smoothly. His clients can also check their portfolio performance any time by a click of a mouse.
“Lack of skilled man power has always been an issue. So, I decided to operate from an e-office where I can offer my services to clients in seconds. My clients are comfortable and happy to have an ‘any time access’ to their portfolio,” said Vinayak Sapre.
