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  • MF News Here are the key snippets of CIFA 2018

    Here are the key snippets of CIFA 2018

    CIFA 2018 saw 25 industry experts speaking on a broad range of topics.
    Team Cafemutual Feb 24, 2018

    Lessons to learn from MS Dhoni, Sunil Subramaniam, CEO, Sundaram Mutual Fund

    *Play to your strengths: First figure out what are your strengths whether it is your knack to make relationships, market knowledge, financial planning or asset allocation.

    *Courage of conviction: Have conviction in the schemes that you recommend. Your homework is done once you recommend the schemes. Stick with the recommended funds despite its short term underperformance.

    *Silence is golden: You don’t need to answer every customer question immediately.

    Future of client engagement, Ashutosh Bishnoi, CEO, Mahindra Mutual Fund

    *Investing is about the irrationality of postponing consumption to imagine a future, for a better tomorrow and security of the next generation. Be the rational person in the conversation.

    *Ask irrational questions to understand your clients. Some of these questions are:

    -How much money should you have to call yourself rich?

     -What will you never agree to do for any amount of money?

    -What will you do if all your money is lost overnight?

    -What would you be prepared to kill for?

    Dealing with change, Maria Marsala, Business Coach, Elevating your Business

    *Accept the changes that you cannot change. Do not let what you cannot do, interfere what you can do.

    *When you come across changes that needs to be implemented, write down one item that you need to complete in one week.

    Doing business with women clients, Anuradha Rao, CEO, SBI MF

    *Some of the traits of women investors are focus on family, saving for a rainy day, discipline, patience and are not affected by market volatility.

    *Ways to reach to women investors are by organising women investor awareness programs during afternoons in housing societies, support the women who can help in spreading the word.”

    *One way to reach a woman’s financial heart is through their children and husband. When undertaking corporate training of young professionals, tell them to talk to their mother about mutual funds. When a meeting a client, tell them to bring their wives. 

    Evolution of advisory – Going to the next level, G.Pradeepkumar, CEO, Union Mutual Fund

    *Advisors who have more social media presence have higher assets and clients.”

    *Advisors should use robo-advisory as it will help them to service more clients.”

    Money and the mind, Nimesh Chandan, Head Offshore investments, Canara Robeco Mutual Fund

    *Tell your clients to invest half of the incremental increase in their salaries and the other half they can keep for consumption.  This helps investors feel good about themselves.”

    *Tell your clients to have a record of the goal behind their investment.” 

    Hope, Hype, and hard facts, Radhika Gupta, CEO, Edelweiss Mutual Fund

    The 5Cs of a scam.

    Creamy: They appeal to people’s greed

    Bubbles are consistent. Anything that is consistent and gives consistent returns has tail winds.

    Complex: Investors cannot figure out the reason behind a AA or a A rated paper.

    Cocktailed: If there is a sign that it is too big to fail.

    Cute: Examples are arbitrage funds taking credit risk.

    What makes an ideal advisor: Vishal Kapoor, CEO, IDFC Mutual Fund

    Integrity: Integrity in thought, words, actions. The client should feel that advisor are always looking out for me.

    Disciplined: Be consistent.

    Empathy: Be sensitive to clients’ life style and life goals.

    Articulate: Effectively communicating the full picture in simple language.

    Learning: Keep enhancing your knowledge.

    Revisting fund evaluation parameters, Vidya Bala, Head of Mutual Fund Research, Fundsindia

    *The scheme rationalisation will make past returns irrelevant.”

    *The verifiable qualitative approach: Market cap exposure, concentrated exposure to stocks, portfolio turnover, trends on duration and trends on credit.

    Dealing with the wealthy: Mimi Parthasarathy, Sinhasi Consultants

    *Manage the client’s expectation as they have high expectations.”

    *Give objective advice. The HNI prospect will be more willing to work with you if you do not care about consequences such as the cutting a cheque to invest with you.

    *Involve the client’s children as it helps the children to understand the importance of wealth.”

    Changing mindset of the new investors: Kailash Kulkarni, CEO, L&T Mutual Fund

    *Many young investors do not think it is important to buy a house or own a car. Hence, these goals does not appeal to the younger generation.   

    In this equity euphoria, debt still deserves a place: Dwijendra Srivastava, CIO-Debt, Sundaram Mutual Fund    

    *Debt is the only asset class that provides time-bound solution products.”

    *Have a proper asset allocation between equity and debt.”  

    The one big opportunity that everyone is overlooking: P V Subramanyam, Trainer, Author

    *Advisors should focus on senior citizens. They can recruit a person above 60 or 65 who will be able to interact with elderly clients in a better way. Also, teach them how to use their smart phones for video calling their grandkids or booking an Uber or Ola.”

    *Visit old age homes or start prospecting senior citizens around your locality.”

    Hallucination: Rajesh Krishnamoorthy, MD, iFast Financial

    *Find an appropriate successor.” 

    *Define a date when you will hand over your business to your successor.” 

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Have a query or a doubt?
    Need a clarification or more information on an issue?
    Cafemutual welcomes all mutual fund and insurance related questions. So write in to us at newsdesk@cafemutual.com

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