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Business Development What IFAs learned in 2016

What IFAs learned in 2016

Nashik based advisor Ajay Kale and Delhi based advisor Pawan Gupta recall their learnings and achievements of 2016.
Darshita Shah Dec 23, 2016

While many of us make new plans in our personal and professional lives to start afresh in New Year it is also important to reflect on the past and find out what the year gone by has taught us. Cafemutual asked leading advisors to share what they learned in their practice which helped them succeed in 2016.

Ajay Kale, Nashik based IFA

This year has been a roller coaster ride for me. As the mutual fund industry grew so did I. For instance, my SIP book grew 2 times in 2016 to touch Rs. 33 lakh. I achieved this growth because I have started conducting investor awareness programs (IAPs), especially in the untapped areas of Nashik.

On a personal note, I adopted a healthier life by following a diet and an exercise regime. I wish to continue this.

Here are some of my important learnings from 2016:

  • SIP as tool to create wealth creation has worked wonders for retail investors. So I will continue to champion the cause of SIP among retail investors.
  • The power of compounding works best over the long term. So stick to the basics.
  • Debt allocation in your client portfolio is absolutely essential.
  • Don’t select funds solely based on the personality of the fund manager. Rather, select funds on the basis of performance of schemes over a five-year period.  
  • I attended a lot of seminars, events and educational programs which helped enhance my knowledge and skills. I think the money spent on such events has been worth it.

Pawan Gupta, Delhi based IFA

While 2016 has been a year of many achievements, one of the most memorable moment was my appointment as the president of All Mutual Fund Distributor Welfare Association, which is a Delhi based IFA Association. Becoming a president has helped me understand the problems faced by my peers. Besides, collaborating with them at social events and helping each other feels wonderful.

My most important learnings from 2016 are:

  • Leverage technology. I have started using the stock exchange platform to execute transactions which has helped me save time and cost.
  • Don’t fear regulations. Many IFAs are worried over SEBI’s proposal to push IFAs to become RIAs in three years. I think IFAs should rather channelize their energies on growing their business. Their business will automatically grow if their clients trust them.
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