I was always willing to help people. In fact, in school, I used to volunteer for all activities and participate in elocution, debate and singing. I won prizes in English spelling competition, elocutions and debates. That was when I realized I like interacting with people.
In college, I was planning to pursue Hotel Management but luckily my dad introduced me to business management. It was a blessing in disguise. The combination of learning numbers and my passion for connecting with people was a natural entry into investment advisory.
After finishing my studies, I worked with Birla Sunlife Distribution for a while. After a short stint, the passion to be my own boss beckoned and I started on my own in July 2001. There has been no looking back since then!
Advise to budding women advisors
My advice to aspiring women IFAs is that if you do what you like, give it your best. Be honest to yourself and your profession and work in the interest of your clients. I think a culmination of this is “Success”. Also, the process of learning never stops. Always be keen to learn, listen and grow.
To excel, technical knowledge should be acquired through certifications like CFP, which equip women advisors to handle client questions. This really makes clients feel comfortable and highlights one’s competence.
Kiran Telang, Dhanayush Capital Advisors
The urge to be on my own was the main inspiration to become a financial advisor. Earlier when I was in the banking industry, I had first experienced what it was to deal with people's money. I had seen the problems they face and the way advice was offered in banks. I felt there was a huge disconnect somewhere.
I thought financial planning was something that could bridge this disconnect and make a meaningful difference in an individual's life. I got into this profession to fill this gap.
Some of the key things which helped me are:
- Tremendous support from my family
- Great mentors and friends in the fraternity
- Always doing right thing for the client
- Listening
- Simplifying things for clients
- Continuous learning
- Perseverance
Advise for budding women advisors
I don't think the qualities required for excellence are any different for men and women in advisory profession. The key thing is integrity and commitment. Putting clients’ interest first every time you advice will always be good advice. Besides, having technical skills (domain knowledge), soft skills and understanding behavior are important. Technical skills are things that clients look for when they hire an advisor to give them solutions to issues they face. But it is the soft skills and behavioral aspects that add real value to the relationship and extend it for a lifetime.
Shifali Satsangee, Funds Ve’daa
The world of investments and money management is perceived as the gentlemen’s domain. But of late, we have seen many women take centre stage in the field of finance.
Our company was the fruition of a long cherished dream of becoming an entrepreneur.
My husband Sahib and I envisaged the need for professional wealth management and advisory services to tap the opportunities that emerged due to tremendous wealth creation that happened in Tier II cities like ours.
Success is not gauged by assets under management or number crunching but by striving to reach your full potential, by creating value for your clients and by creating happy investors. The only yardstick I use to measure success is to assess if I have reached the benchmark I have set for myself, which I revise every year by raising the bar.
Our success can be attributed to:
- Having a focused business strategy in place e.g.: what we would like to engage in and what not to engage in.
- Having robust in-house processes/documentation in place
- Being organized
- Compiling realistic ‘To- do- lists’ and adhering to them
- Respecting and learning from our competition, peer groups, clients. (They are where they are for a reason)
- Following the path of “Addhyan (continuous learning), Seva (Unparalleled level of service), Vyaayaam (Yoga which helps maintain equipoise and evenness of mind in face of success and failure - since sober reflection is indispensable while taking investment decisions).
Advise for budding women advisors:
- Find your competence and master it
- Become your own toughest critic while introspecting and reflecting
- Maintain a diary of detailed list of cognitive errors or errors in judgment (complete notes, dates and events) which you have experienced because it helps in avoiding thinking errors. It would also help us not to succumb to social proof biases such as “herd instinct” which is the evil behind bubbles and stock market panic.
- Network within your professional circle. Divergent opinions and views add a fresh perspective, broadens our outlook to business and gives a corporate connect.
Key takeaways:
- Women have a natural skill of communicating well with people
- Find your competence and master it
- Become your own toughest critic while introspecting and reflecting
- Having technical skills (domain knowledge), soft skills and understanding behavior are important
