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Business Development What advisors wish they knew in the initial years of their practice

What advisors wish they knew in the initial years of their practice

We asked a few advisors what advice they would give themselves if they could go back in time.
Team Cafemutual Dec 22, 2017

Everyone learns through experience. We struggle with many things in our initial years that in retrospect seem very simple. We asked a few advisors what advice they would give themselves if they could go back in time. Here is what they say:

Shifali Satsangee, Funds Vedaa

If I could go back in time, I would advise myself to finish my CA. When I got married, I gave up my studies midway. Had I completed my studies, I would have been better placed financially today.

Nikhil Naik, Naik Wealth

One advise I wish I could give myself is that it is better not to on-board a client than on boarding the wrong client.

In the initial years, I would on-board anyone who wanted to be my client. Even when things were not going well, I continued to service them. Looking back, I wish I had been more selective and cut out some of the dead weight sooner.

Tarun Bhirani, TBNG Wealth Advisors

Given the chance, I would tell myself to go for a more structured approach from the beginning.

Though we built a proper organizational structure after 3-4 years, I wish I had done that sooner. This would have saved a lot of time for me and boosted my credibility further.

Tejal Gandhi, Money Works.

Had I known in my initial days about some of the regulatory changes (especially RIA related ones,) I would have structured my business differently. Today, after building my client base based on one revenue model, it is extremely difficult to shift.

On the lighter side, I wish I could gift WhatsApp and other social media to the younger me. I could have saved so much time and money if I had them then!

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