Tamanna Varma, Vinayaka Investment
- Change is scary. But we fail to realize that change is constant. The year 2016 has seen a lot of regulatory changes right from upfront commission cap to SEBIs push towards RIA model. Nevertheless, I believe that we should focus on our business by embracing the change.
- While technology helps boost productivity I have learned not to rely too much on it when it comes to communicating with them. Technology cannot replace human touch and there is no substitute for one-to-one meetings. Meeting personally helps me get to know clients better.
- This year has been very fruitful as I attended a lot of knowledge based events and participated in panel discussions with people from my professional circle. It has broadened my perspective about my business.
Srinivasan T Seshacharya, WealMan Associates
- The stock market has witnessed many shocks but they have not affected the fundamentals of our economy. But when any negative event occurs even advisors tend to worry about how it would impact our economy. For instance, the recent events like BREXIT, demonetization and Trump win has worried some advisors. After observing the market for so many years, I have learned that that events like these only have a temporary impact on our market.
- I have started using technology extensively in 2016 which has helped me boost my productivity. For instance, I have started using a software which has helped me save time and cut costs. I get a lot of reports from this software in a few minutes which I used to prepare manually. I will continue to learn more about technology in 2017.
- Being the President of Bengaluru based IFA association Council of Financial Planners, I organize educational programs every month which are open to all advisors from Bengaluru. We call experts to share their insights on a number of topics. For instance, we recently invited an expert from PWC to talk about digitization. In addition to this, every advisor gets a chance to speak on a topic related to personal finance. This is how we continuously learn new things.
Suresh Sadagopan, Ladder7 Financial Advisories
- Funds which perform well over the short term often get advisors attention. Advisors start recommending such schemes on the hope that they will sustain their performance. However, their predictions tend to go wrong. Thus, I have learned not to give too much attention to short term performance. I even advise my clients not to chase returns and instead focus on achieving their life goals.
- When I attend conferences, I have often come across fellow advisors telling me the schemes which I must recommend to clients. While these schemes may be good, they many not necessarily fit into your clients risk profile. So I have learned not to get swayed by bandwagon effect. Financial planning is individualistic and hence there is no one-size-fits-all approach while preparing a plan for client.