What inspired you to take up financial advisory?
This happened purely by chance. It was destiny and a combination of all factors coming together for this to happen. I got an opportunity to join ILFS Investsmart. I found my true calling and passion while driving the ILFS Investsmart private client group practice from scratch in 1999 when private banking was barely known in India. What was most special was that I struck a special chord with the most demanding customers and till today I am a part of the families of many of my clients which is a great honour for me.
What are the challenges that are unique to women IFAs?
Personally, I have not faced any gender based hurdles and have been very fortunate to have made a mark in this space. It is possible that since the industry was earlier dominated by men, women could have faced some hurdles. But today, I believe women financial advisors get the same respect as their male counterparts.
Do women take better investment decisions? If yes, why?
I feel that women by nature are conservative. They analyse risks better and this proves to be an advantage for women financial advisors.
Also, there is a tendency for women to focus on longer-term as they generally associate money with security, quality of life, family protection, etc. and this does add a lot of value, especially in the financial planning process.
In any event, understanding gender differences and how they are changing over time and catering to them effectively is more important today for both women and men financial advisors in understanding client goals.
What is your advice to budding women financial planners?
I believe that women have an edge over male financial advisors and it is a great space to be in. Knowledge, trust, discipline, simplicity and commitment are the foundation for this profession and being a financial advisor can actually be a lifelong profession.
