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MF News When one door closes, many more open, says Rajiv Sabharwal

When one door closes, many more open, says Rajiv Sabharwal

In the sixth edition of CIFA, Rajiv talked about making change work for you.
Team Cafemutual Mar 17, 2019

Change is not bad; in fact, it gives us opportunity to learn, believes Rajiv Sabharwal, MD, Tata Capital and Chairman, Tata MF.

At CIFA 2019, Rajiv took advisors down the memory lane and motivated them to tackle the changes in the industry head on. Talking about past disruption in the industry such as entry of banks in distribution space and technology changing business dynamics, he reminded advisors that how they have successfully adapted their business each time and flourished.

Sharing examples from his own life, Rajiv drove home a powerful message, “While people say that change is the only constant, in reality, the only constant is that when some doors close, many more open.”

He attributes this belief to two facts:

  1. India is one of the fastest growing economies in the world providing plenty of opportunities.
  2. This generation (alluding to the generation to which he and the IFA community belongs) has been a hard-working one, which has dreamt big and made these dreams come true.

At the same time, he empathised with the concerns faced by the advisory community. He confided that when they (Tata Capital) first moved from upfront to trail, they felt terrible about the change. However, as time passed, they realised that it was for the best.

Similarly, he believed that the recent regulatory changes would be beneficial in the long term. According to him, customer focussed measures will help build investor’s faith in mutual funds. Consequently, the industry will see more investors investing in mutual funds. While these measures may lead to reduce margins of distributors in near term, in the end as market grows, distribution business will benefit from it.

In the face of current challenges, he urged advisors to harness technology to become more competitive and increase their reach. He encouraged advisors to spend maximum time on understanding client and his family's aspirations so that they could tailor their advice to them.  Focus on adding value to your clients and leave the operational bits to technology, he said. 

He closed the session by urging advisors to prepare themselves and their team for handing change as disruptions happen. "Don't let anyone be too comfortable in a role. If you see your team members getting comfortable give them new responsibilities. Constantly, challenge your team as it will equip them to handle any change," he advised the audience.

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7 Comments
Arvind Thakur · 1 month ago
Change is not bad; but aisi change good bhi nahin hai
Prashant · 1 month ago
Tatas should reduce his salary since he says reduction in income benefits everyone. Tatas should also reduce salaries and incentives paid to every employee and than lecture us on the our livelihood. These slogans are all"foreigners ke chochle" so that they can do whatever they want and close as many doors as possible for us and we just have to keep finding new doors. Why should they close one door to us in the first place please answer that. Well I know the answer it is because they want to keep the entire room for themselves and don't want others to enter. Surprisingly SEBI who is supposed to stop them from doing that is actually helps them to get the whole room by closing the doors to us.
Prashant · 1 month ago
If we all come together we can stop the door from closing and will get our rightful space in the and of the room.
Reply
aTUL SHAH · 1 month ago
If AMCs + MFU + REGISTRARS BECOME SERIOUS IN UPDATING TECHNOLOGY WITH PRIME MOTTO OF UNIFORMITY & REAL TIME UPDATION, QUANTUM OF WORK MAY OFFSET LOWERING TER/ COMMISSION... At present, every AMC has own app.. How an IFA use them without being expert computer operator... IFA is supposed to spend more efforts in investment options but AMCs have compelled them to spend 70-90% time in execution work.. AMCs must discard own technology & adopt MFU PLATFORM....
Santosh Avadhani · 1 month ago
IFAs should concentrate to sell bonds, fds, insurance and loan products, instead of selling mutual funds
Rajesh · 1 month ago
I would say all distributors to not register new sips and do some other work.life insurance still pays 15-20% commission so why to put your energy on non paying mutual funds.
ATUL SHAH · 1 month ago
Why Rajiv Sabharwal Sir is not throwing light on comments posted?
Why are you inviting comments/
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