How are you engaging with your team and distributors considering the nationwide-lockdown situation? Which app do you use for video conference and file sharing?
Our morning meetings have always been on audio call for those not present in office. All internal meetings are now done using MicroSoft Teams on video. For external meetings or interactions, I have used WebEx, Zoom, Skype and FaceTime apart from Microsoft Teams. We have done client and distributor calls in different formats with attendance on each call/webinar ranging from 25 to 2500 - the power of virtual meetings have never been realized like this before.
How are you managing your time? Tell us more about your ‘work from home’ routine.
We still start our day with fixed income team morning meeting at 8:40 followed by other meetings or calls with the entire team or smaller groups. So daily schedule has not changed much! It has just moved from physical to virtual. We do an executive committee meeting at 5 pm daily to take stock of the situation. The day ends pretty late in the evening catching up on calls, emails etc. Given the market situation, we have tried our best to connect with as many partners and investors as possible.
Do you think working from home compromises productivity and quality of work?
Initially it was quite tough managing from home but gradually we are getting into the groove. In fact, as far as meetings are concerned, I realise they are more focused and productive. Our IT and other support teams have worked hard to ensure seamless ‘work from home’ for all of us.
What is the most important thing that you are missing at office?
While virtual meetings have been quite productive, we all have a deep craving for in-person interactions, informal chats, eating together and all those things that one sorely misses.
What are the two biggest lessons for you during this phase?
As a student of life, these moments reinforce the philosophical realization of "Annicca", how transient and unpredictable things are. It also teaches humility, empathy and the importance of inter-dependence.
As a student of the market, the increased frequency of these known-unknown events (wouldn't call it a completely unknown-unknown or black swan as people like Bill Gates have been warning about pandemics for sometime) and how does one manage the left tail risk, i.e. events with extremely low probability of occurring but have huge consequences.
Finally, what is the one thing that you would do differently once the work from home phase ends?
Doing Namaste instead of handshakes for some time!
On a serious note, thinking deeply about all the travel for meetings which can be converted into virtual meetings. Our Mother Earth will be greener.
What is the one advice that you would give to distributors in the current scenario?
Hyper noise can influence investors into decisions that can seriously harm their long term interest. Managing money successfully is less about what you know and more about how you behave. A period of uncertainty and heightened volatility is likely to continue but one should take advantage of it rather than getting swayed by it. I know, it's easier said than done but the true test of advisor is in periods like this. Tough times don't last, tough people do. This is also a good time to reinforce a focus on digital technology.
There could be a big opportunity to target millennials as their preference would shift from leveraged spending to thoughtful investing.
