The third ‘Principal Business Champions’ contest got an overwhelming response from the IFA community.
‘Principal Business Champions – Winning Ideas’ is a joint initiative of Principal Pnb Mutual Fund and Cafemutual to help advisors learn from the best practices of other IFAs.
Here are the ‘best advice’ stories that got the highest votes.
Winner on website: Vijay Choudhary, Neptune Capital Advisors, Mumbai: Follow your heart, do what is ethically right.
My father always used to tell me that I must stay true to myself. This advice has stuck with me. During my first assignment with an advisory firm, I used to do what is best for the clients. I would do risk profiling before suggesting any schemes to the clients. I also helped them identify their financial goals before making an investment. This helped me build trust among people.
Later, when I joined an AMC, many of these clients would keep calling me for financial advice. I finally floated an advisory firm last year; many people whom I had serviced during my previous stint came onboard. Though they were not directly associated with me all these years, they were impressed with my work ethic.
This is evident from the fact that I have built a client base of 200 with an AUM of over Rs.67 crores in just one year.
Winner on Facebook: Satish Pandey, Imperial Investment Consultancy, Mumbai: Work in the best interests of clients
I started my career as a financial advisor with a broking company. One of my clients advised me that I should be accessible to my clients 24*7 and work in their best interests to retain them. His words touched me and since then despite all work pressure, I have kept my client’s best interests in mind, and ever ready to serve them 24*7. When I finally decided to start my own company, many of my clients followed me. I think instead of chasing targets, advisors must concentrate on client satisfaction. If a client is satisfied with the quality of service you provide, they will not leave you and your earnings will automatically increase.
Winner on Twitter: Vaibhav Rane, Mumbai: Adapt to changes to grow business
Long ago, I read a book, which emphasized the importance of positive thinking. Though I forgot the name of the book, this advice has stayed with me. When I became an IFA, I found people complaining about regulatory changes and investor behaviour. But, I always see these as opportunities. Instead of worrying about why something happened, I concentrate on how I can use it to benefit my practice. I believe in adapting to such changes to grow business.
