Delegates get insights and knowledge on successful financial planning.
With a unique theme of ‘Get the Direction Right’, the four-day annual conference of Network FP kicked off on September 30, 2013 in Mumbai. Over 200 financial advisers and wealth managers across the country attended the conference while 92 delegates participated through live webcast from five centers - Pune, Hyderabad, Kolkata, Delhi and Bangalore.
Sadique and Priti Neelgund, the key people behind Network FP had taken care to develop an action packed agenda and invited a galaxy of speakers to do justice to the topics.
Day 1 was entirely devoted to pre-conference workshops on various topics like use of online tools, contact management etc. Day 2 & 3 were the core conference days in which eminent financial planners and senior executives of fund houses put forth their ideas on various issues related to business development, client management etc. Network FP also hosted an exhibition on the final day of conference where technology solutions providers showcased their offerings to advisors and wealth managers.
While giving a presentation on ‘Getting 100% of client’s wallet share’, Lovaii Navlakhi of International Money Matters suggested advisers to give a money back guarantee on services to win the confidence of clients. According to him, advisers should never give up their integrity for a few rupees since once lost, no one can buy it back.
Amit Trivedi, Founder of Karmayog Knowledge Academy demonstrated that value lies in the eye of beholders through a video clipping of a Hindi film. Sumeet Vaid of Ffreedom Financial stressed the importance of shifting clients and planners focus from investment returns to life goals.
Rohit Sarin of Clients Associates highlighted the importance of maintaining continuous relationship and building expertise in specific subjects such as children’s education or retirement planning for servicing HNIs clients.
Vishal Dhawan of Plan Ahead Wealth Advisors stressed on systems and processes to propel growth in the financial advisory profession business. He also suggested delegates to create client engagement model to add ‘out of box’ service.
One of the interesting perspectives on business development was put forth by Gaurav Mashruwala of Cutting Edge in which he recommended advisers to give a single-page financial plan to clients. Through a slide, he explained that a single page format should consist of a family photograph and major goals so that the clients could put it anywhere. Mashruwala told advisers that this would serve as a reminder and help clients stick to their goals.
Karthik Jhaveri of Transcend explained how offering additional services like wills and estate planning could lead to stickiness and ultimately business expansion. He discussed the issues, pricing and opportunities in providing these services.
Suresh Sadagopan of Ladder 7 Financial Advisories suggested advisers to provide a clear picture of services and working style to clients so that they can better understand about the service they are paying for. He said that advisers should always try to offer values to their clients in order to establish a long term relationship.
Finally, Brijesh Dalmia of Dalmia Advisory Services gave a presentation on ‘You have a choice’ in which he explained ethics of financial planning in an easy-to-understand format.
