Cafemutual asked a few leading advisors about their plans in 2016 to grow the business.
Shifali Satsangee, Fundsvedaa
- Going digital - We learnt that to keep in tune with changing times we need to keep our business model in sync. Therefore, to get future ready and make our business scalable, we are in the process of making changes in our business model by embracing the online medium moving from just referral based mode and trying to leverage the power of technology, social media and making use of digital revolution. We have plans to migrate to a platform for online transaction processing and are in process of evaluating available options.
- Use of social media - We created a digital roadmap for ourselves since there has been a fundamental shift in the way the world now communicates by building up our social graph on Twitter and Linkedin. Our social media marketing on Facebook is work in progress and still in the process of getting a facelift.
- Growing SIP book - We plan to focus our energies on building up our SIP book more aggressively.
- Streamline Processes - We are all keyed up to handle an expanding client base by being more process-oriented. Like big businesses, we will try to institutionalize our practice and corporatize our processes to give a corporate feel and connect to our clients.
Srikanth Matrubai, SriKavi Wealth Advisors
- Invest in myself - I will ensure that in 2016, my personal health and fitness – both physical and mental, continue to be the priority because I believe in the concept of ‘Strong Body is Strong Mind’. I believe that learning never stops. So, I will be attending more workshops and seminars to get more experience.
- Make the process stronger - Back office support is the backbone of any IFA and a process needs to be put in place. Even if there is a system, constant monitoring is required. Getting clients on board is not difficult, but monitoring their investments and behaviour is much more critical. So, 2016 will be the year when I will make my team strongly tech savvy and ensure that my back office is "Fail-Proof" and "client centric".
- Become an expert - Majority of IFAs lack specialization. I am in the process of becoming an expert in retirement planning and look forward to be recognised as one. I would urge all advisors to specialise in something wherein you are looked as experts and your clients will perceive you as more knowledgeable and skilled.
- Branding – Technology has made it easier for me to brand myself to acquire more clients. I will ensure effective usage of social media like the Facebook, Whatsapp, etc. Also, I will try to make my website more interactive for investors. Having a good rand (image) will ensure that you don’t need to sell yourself.
- Make all my investors financially savvy - Making your investors financially savvy will make your job easy. I will continue to drill the benefits of long term wealth creation to each and every client. Pitch to your clients in such a manner that they not only stay invested during the market crash but also bring in more money. Link every client’s every investment to a particular goal. This will again ensure that the redemption pressure is done away with and any market fall is unlikely to change investor behaviour.
This is Part one of the success strategy series.
