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Financial Planning ‘Only advisers can give their clients holistic solutions’

‘Only advisers can give their clients holistic solutions’

M S Shabbir and Sachin Kharate share their client success stories.
Banali Banerjee Oct 5, 2016

M S Shabbir, SenSage Financial Services

In 2011, a doctor approached me to review his portfolio as he was concerned whether his investments were adequate to retire comfortably. One of his friends recommended him to seek my advice since he felt I would give him a more holistic solution compared to the doctor’s CA who had been guiding him so far.

On reviewing, I found that he had a personal loan and had investments in bank deposits, PPF and NSC.

After a detailed analysis, I advised him to:

  • Do goal based planning for retirement, children education and daughter’s marriage
  • Switch from recurring deposits to SIPs
  • Reduce PPF contributions and invest in ELSS
  • Include NPS for tax planning
  • Transfer idle saving bank account money to liquid funds

This allowed the client to contribute an additional Rs. 6 lakh annually to his retirement kitty. He realized that his CA had not have been able to provide the services which I offered. Impressed, he not only paid me a fee but also gave me several references.

Sachin Kharate, Varad Financial Services

Two years back, a businessman approached me as he was keen on investing in mutual funds. After reviewing his portfolio, I found that he had invested in traditional products like FDs, NSE certificates and recurring deposits. Also, he had too many insurance policies for which he was paying a hefty premium.

He was around 54 years and wanted to earn higher returns to meet his goals. Since he started investing late, I suggested him to start SIPs and invest lump sum whenever he had money in equity mutual funds.

Today, his MF portfolio has grown to Rs. 25 lakh in mutual funds.

Learning from this experience, the client asked his son and son-in-law to start an SIP of Rs. 10, 000 per month.

So impressed he is with mutual funds that he asked me to educate his employees about them and today, 20 of his employees have already started SIPs through me. 

1 Comment
arbind modi · 4 months ago
In future we will be unique in financial field, individually product selling n mis selling will be 10-15%...Thumb up to your simple solutions...
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