Advisors recall their biggest learnings in 2014.
Most
of us make New Year resolutions in our personal and professional lives to start
the year on a good note. While it is a good idea to plan for 2015 in advance, it
is also important to look back and learn from our past mistakes and
achievements to plan for a better tomorrow.
Cafemutual
asked leading advisors what were their biggest learnings in their professional
lives in 2014. Here are some of their biggest learnings:
Vinod Jain, Jain Investments
As an investor -
As an advisor -
- Our belief in SIP to create wealth has worked beautifully for the past 5,10 and 15 years. The wealth created by all of our clients is extremely satisfying.
As an individual -
- Learned a lot from my daughter who represents Maharashtra in softball. She has reached this stage by working constantly at it for last 3 years in spite of a shaky start. Hard work and perseverance always pay in the long run.
M S Shabbir, Sensage Financial Services
- Patience is the key to succeed in advisory profession.
- We have invested in our business in 2014 by renovating our office and becoming SEBI registered advisors. Thus, clients get a feeling that we are committed towards this profession.
- 2014 was a good year for both equity and debt which helped our business. While this was an external factor which helped us, we learned that it is important for advisors to keep educating their clients about the developments affecting the markets so that we are on the same page.
Nikhil
Kothari, Etica Wealth Management
I
have learned that free advice is not valued by anyone, not even your
acquaintances and friends.
You need to advice clients to have patience. We advised clients to stay invested irrespective of the market conditions and our clients have benefited greatly both in equity and debt in 2014.
Deepali
Sen, Srujan Financial Advisers
- Clients pay as long as the advisor demonstrates value.
- Clients are not in control of their financial data. It takes up to 3 to 4 months or more in data collection, largely because they don’t have it handy.
- ·Clients are more than willing to share all their pertinent financial information. One needs to ask the right questions.
Rajesh Hattangady, THiiNK
We
enhanced customer experience through various initiatives. One of them
being replying to them promptly.
- Handholding clients at every stage of their life is the key to advisors success.
Rajesh Chheda, Finance Factory
Ethics,
transparency and compliance are the golden rules to succeed.
- We constantly updated technology to stay ahead of the curve.
- From the very beginning, we never chased the targets set out by product manufacturers. If you act in the interest of clients, you’ll keep getting business irrespective of the market conditions.
Vinayak Sapre, VVS Ventures
You
have to be surrounded with progressive people to motivate yourself and
learn from each other.
- There is a gap in what clients perceive as service and the actual service rendered by advisors. We have to fill this gap. You need to create a delightful experience for your clients.