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Financial Planning ‘My client bought two apartments from his MF investments’

‘My client bought two apartments from his MF investments’

Chennai based Alagappan Thenappan’s client has bought two apartments from his MF investments while Karnataka based Anita Kanbargi’s client is enjoying a comfortable retirement life by sticking to her investment plan. They share their client success stories with Cafemutual.
Darshita Shah Dec 22, 2016

Alagappan Thenappan, Chennai based IFA

A client who had been investing regularly in mutual funds for a long time through me received a bonus of Rs. 5 lakh from his company. Given his faith in mutual funds, he wanted to invest the entire bonus in mutual funds instead of spending it.

We were having a conversation about his expenses and he told me that he had taken a loan of over 12 lakh and was paying an EMI of Rs. 20,000 per month. Since he was paying a lot of money in interest I suggested him to repay the loan first. Heeding my advice, he made a prepayment to the bank which reduced his interest outgo substantially. I also advised him to redeem his existing investments in mutual funds to prepay the loan to which he agreed. He has repaid his entire loan.

I could have accepted his request to invest Rs. 5 lakh in mutual funds but I did the right thing by advising him to repay the loan. Though I lost business because of this advice the client was thankful to me as he got out of the debt trap.

He still continues to invest through me and today owns two apartments which he has bought with the help of his investments in mutual funds.

Anita Kanbargi, Belgaum, Karnataka based IFA

In 2003, a private sector executive approached me to help him build a nest egg for his retirement. Since he used to spend a lot, he was worried whether he will be able to save enough for his future goals. He wanted to lead a comfortable retirement life without being dependent on his children. While reviewing his portfolio, I came to know that he had some investments in bank fixed deposits and PPF. These investments were not going to achieve his goal so I advised him to:

  • Switch from recurring deposits to SIPs.
  • Invest in tax-saving bonds for tax planning.
  • Invest his idle cash in debt funds.

He followed my advice diligently and today he has accumulated a good corpus which is helping him enjoy his retirement. We have moved a part of this corpus to debt funds. He is withdrawing Rs. 4.5 lakh per annum from this corpus which is helping him live comfortably.

In fact, he flew to Australia twice to meet his son. This client is happy that he is not dependent on his children to look after him.  

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3 Comments
Ganesan · 2 years ago
These live examples boost the confidence of investors who are new to investing
Robert Glen · 7 months ago


Project Funding and Banking Instrument Such As {(BG/SBLC/LC/DC/MTN)} for lease and purchase


Sir

I am a financial consultant and have a very good and reputable Provider of some bank instruments we can only deliver fresh cut cash backed lease bank instrument {(BG/SBLC/LC/DC/MTN)} to you in accordance to our terms and condition. Our bank instruments can serves as collateral as the case may be, which will enable you get loans from your bank so as to embark on any projects such as Aviation, Agriculture, Petroleum, Mining, Telecommunication, Construction of Dams, Real estate, Bridges, Trading, Importing and exporting and Other Turnkey Project (s) etc.

Also these instruments can be put in PPP, etc. Please do let me know of your willingness to proceed and I will email you our terms and condition upon request.

Contact :Robert Glen
Email: robertg.finance@gmail.com
Skype: robertg.finance@gmail.com
BROKERS ARE WELCOME & 100% PROTECTED!!!

Felix Zeman · 3 weeks ago
Please read my provider's BG/SBLC Sale Transaction Procedure below and see if it will suit your requirements.


                                                                               PROCEDURES:

1.    Buyer submits Letter Of Intent (LOI) with full banking coordinates (there must be sufficient cash funds in this account), Enlarged 140% Colour copy of Passport , Client Information Sheet , Certificate of Incorporation (if applicable), Corporate Resolution (if applicable), Non-Solicitation Statement, and an Irrevocable Fee Protection Agreement .

2.    After conducting due diligence, the Seller will countersign the LOI and return it to Buyer including details of the BG Issuing bank, and Seller’s Passport copy. This LOI automatically becomes a full commercial recourse contract and will be notarized to avoid contract breach and Buyer will be required to take care of notarization expenses of the contract documents here in UK. After notarization of the contract documents here in the UK, both parties shall lodge the executed contract with their respective Banks.

3.    Within two (2) banking days, the Seller’s Bank shall send a PRE-ADVICE SWIFT MT199 or MT-799 to the Buyer’s Bank. (EXHIBIT A )  The PRE-ADVICE shall be valid for  four (4) banking days only.

4.    Within the same banking day, the Seller shall email a courtesy copy of the PRE-ADVICE SWIFT MT199 or MT-799 to the Buyer for confirmation. Within three (3) banking days after authentication of the PRE-ADVICE SWIFT MT199 or MT-799, the Buyer’s Bank shall reply and send a  SWIFT MT-799 to the Seller’s bank and a courtesy copy shall be sent  to the Seller’s email.

5.    Within three (3) banking days, after authentication of the Buyer’s SWIFT MT-799, the Seller’s BG Issuing Bank shall send the Bank Guarantee via SWIFT MT-760 to the Buyer’s Bank  ( EXHIBIT B ) and a courtesy copy shall be sent to the Buyer’s email. The Buyer’s bank verifies and authenticate the BG sent via SWIFT MT-760.

6.    Within three (3) banking days, after authentication of the BG sent via SWIFT MT-760, the Buyer shall send payment to the Seller via SWIFT MT-103 and concurrently pay Consultants commission fees of Two Percent of each tranche face value. Courtesy copies of the commission payments shall be sent to the respective consultants/beneficiaries and their paymasters.

7.    Within seven (7) banking days after authentication of receipt of payment to the Seller, the Seller’s BG Issuing Bank shall send the hard copy of the BG to the Buyer’s Bank  via Bank Bonded Courier.

8.    All subsequent tranches will be based on the same procedures until collateral or funds become exhausted.

9.    Any unauthorized calls by any party or its representative lawyers to probe or communicate in an improper way to bank(s) in this transaction shall be prohibited and contract terminated.

10. Please, Ready, Study and Understand VERY WELL, we will work STRICTLY base on this Transaction Procedure.

THIS TRANSACTION PROCEDURE IS NON NEGOTIABLE, DO NOT RESPOND IF NOT ACCEPTED.

Contact Me Via Email:- bfltd2011@gmail.com

I look forward to a mutually beneficial business relationship.

Sincerely,

Felix Zeman.
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