Mumbai: In this fast changing era, fiancial advisors do not want to be left behind the curve. A majority of the IFAs feel that skill development and training provide a much needed edge to them while dealing with their clients, reveals a recent survey conducted by Karnataka Association of Mutual Funds Advisors (KAMFA) among a select group of IFAs in Karnataka.
Apart from client centricity, a majority (61 per cent) of respondents felt that their relationship with AMCs is very pivotal. The services offered by AMCs to distributors and investors are also considered to be crucial by IFAs when it comes to doing business with a particluar fund house.
Its no secret that best performing funds are given first priority by financial advisors. Indeed, 66 per cent of them said that a consistent performance is critical when it comes to recommending products to investors.
The recent rush of innovative products have not been a hit among distributors. They wish to stick to the widely popular equity diversified products. A majority of 51 per cent IFAs said that they recommend time tested equity diverfied schemes to their clients. None of the IFAs surveryed were concerned about product innovation. This thought is also shared by the captial market regulator SEBI which has emphasised on first offering plain vanilla products to lay investors.
A majority of the IFAs surveyed also said incentives on schemes do sway their decisions in advising clients.
