Vinod Jain, Founder & Managing Director, Jain Investment
I used to work with Birla Sun Life Distribution and it is from there that my inclination towards financial planning grew. I realised that there is a lack of expertise in this space which motivated me to start my own firm in 2001.
My first client was my colleague from Birla Sun Life Distribution. He was extremely supportive and helped me get started. He started with a Rs. 1,000 SIP and is now one of my biggest clients.
Though he was aware about different investment products my guidance helped him invest smartly. Since, my first stint in financial advisory started with my friend and colleague it boosted my confidence. Thanks to his frank feedback, I could work on my mistakes more easily. I have received a lot of referrals from him which helped me grow my client base.
I have learnt that you need to have sound knowledge and good communication skills to excel in this field. Also, product knowledge and the way you pitch products will decide your success.
Shifali Satsangee, Funds Ve’daa
My husband is a Chartered Accountant. He has been providing accounting and legal services through his firm since 1990. In 2002, while contemplating over the thought of a lateral diversification, we realized that there was a dearth of professional and management expertise in the field of investment advisory and portfolio management services. After foreseeing the need and the loopholes in this domain, we did a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis and decided to completely focus our energies on one investment avenue i.e. mutual funds.
Instead of looking for new markets we comprehended that it would be logical for us to start by catering to the existing clientele who were HNIs and broaden the ambit later by venturing into unexplored territories.
Our first client was a 14-member family which was investing only into RBI bonds and had absolutely no idea about other investment options. We helped them invest in mutual funds where they could avail higher tax-free returns. Since then there has been no looking back. We are glad that the family is still our client and has been bringing in new clients through referrals.
Over the years, we have realized that being customer-centric (by aligning ourselves to customer requirements) and not product-centric has worked to our advantage.
We also have the conviction that the only constant in the world is change. And the only mode of survival is adapting oneself to these changes. One has to be agile and adaptable to survive in any industry.
