I will persevere because I know a bright future awaits me
The mutual fund industry and distribution business are both facing several challenges. But I am certain that the opportunities in this business are immense. India is growing; more and more people are turning wealthy. With more money to invest, the scope of advisory will grow bigger. This means that those advisors who work hard and sincerely will grow big.
I will learn and develop my skills
I have understood that what has worked so far for me may not work for me in future. Products, markets, regulations and client expectations are all changing at a fast speed. Learning new things and upgrading my skills constantly will ensure that I am well-equipped to deal with these changes.
I will take what I deserve
I use my expertise to help my clients reach their financial goals. I spend time to understand my client needs, aspirations and their circumstances. I use my knowledge to identify appropriate investments for my clients. I service my clients well. By doing all these things, I am adding tremendous value and making a difference to my clients and so it is only fair that I am compensated adequately for my efforts.
I will invest in marketing
I need to grow my business beyond my circle of friends, relatives, ex-colleagues and neighbours and to do that I need to reach out to a wider audience. I need to use marketing techniques to connect with prospects. I will invest smartly in business development and marketing.
I will take the lead in client interactions
Instead of waiting for my clients to call me, I will engage with my clients constantly. I will meet them regularly, update them frequently on their portfolios and keep them informed about the broad developments in the market. I will use each interaction fruitfully to nurture my relationships.
I will educate investors on investments
I will ensure that my clients have an adequate understanding of their investments so that their expectations are realistic. Based on my assessment of each client, I will try to make them savvier in financial matters. The better informed and educated they are, the easier it is for me to deal with them in the long run.
I will adopt technology to grow my business
Technology can help reduce my costs, reach out to more clients and prospects, and also enable me to service my clients better. It can streamline my back office processes with automated systems. I will ensure that I utilise technology better and pay heed to the tech developments.
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