As 2015 comes to an end, we asked two leading advisors what were their biggest learnings in their professional lives in 2015.
Viral Bhatt, Money Mantra
- Adopt Technology: For the first time, I felt that I should adapt to the changes happening in the industry. So I registered with online transaction platforms offered by NSE and MF Utility. This helped me and as well my clients.
- Client Retention: In 2015, I tried to focus on client retention and not so much on client acquisition. This helped me provide a better experience to my clients.
- Being Proactive: I learned to be proactive in 2015. Unlike 2014, this year was not same as far client returns and performance was concerned. When markets turned volatile, I became more proactive and convinced my clients to pump more money in equities to benefit from the market dips.
- Focus on Financial Planning: I focused more on financial planning and learned that clients trust you when you adopt a holistic approach.
- Use of Social Media: I increased my presence on Facebook and Twitter. These are good platforms to interact with existing clients and with prospects. Currently, my company’s official page has around 1,300 likes where I keep sharing different information on financial planning, investments and economy.
B Srinivasan, Sidvin Financial Services & Investments
- Never rely on short term predictions: I learned that even if markets are volatile, don’t change the asset allocation. Just as we advise our clients to invest for long term, advisors too should not change asset allocation based on short-term volatility.
- Let your clients trust you: There were a lot of regulatory changes this year which affected my business. But I have learned that one can sustain and grow if your clients trust you. This confidence has helped me become a better professional.
