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2023 is coming to an end soon, what are the key business lessons that the year taught?
2023 is another year, where Indian markets have done exceedingly well. One lesson that I have learned in earlier bull runs like this and which is reiterated now is that as distributors, we should focus on asset allocation and our role is not just to generate returns for clients but to keep them disciplined and focussed on their goals. This kind of active engagement with clients and influencing client behaviour goes a long way in client retention and business growth.
What are your aspirations for the coming year? How do you see growing your distribution business?
As an entity, Banconus has crossed the important milestone of Rs 500 crore AUM in 2023. We wish to build on our existing client relationships and also onboard new clients who fit into our ideal client avatar. We wish to provide all our clients a delightful experience in their investing journey by upskilling ourselves in knowledge and scaling up our technology platforms. We currently service 275 families and hope to grow this to 500 families in the next few years.
Which new business skills are you desirous to learn in 2024? And why?
Personally, I would like to improve my presentation skills using various tools and digital content creation skills for both client engagement and new client onboarding.
Which investor category do you sense is still untapped and should be explored in the coming year?
Young investors who have just started working and retirees who need to sustain lifestyle without active earnings for 20 years plus.
Lastly, how can the MF industry add more women investors?
As MFDs, ensure women (wives) participate in client meetings as a first step so that they are aware of the financial information and investments relating to their family. Slowly, increase their participation and active involvement in decision making relating to finances. Do IAPs for women audience and make them understand that financial literacy is a life skill.
