What is the impact of discontinuation of physical application forms on your business?
Discontinuation of physical application forms has had a negligible impact on my business as all our clients are already on electronic platform.
How are you dealing with investors who want to exit investments post the sharp downfall in the market?
For investors who want to exit investments post the sharp downfall in the market, I remind them of the financial goals that they are saving for are and their time horizon.
I also use this opportunity to sensitize them about the importance of maintaining asset allocation based on their risk appetite.
How are you engaging with clients during lockdown? Which app or tool do you use?
One of the best ways to engage with clients during these trying times is through video conference. I use couple of apps such as Zoom, Skype and WhatsApp.
How are you managing your time? Tell us more about your ‘work from home’ routine.
Working from home is just like regular work day for me. I get up in the morning and get ready as if I am going to office. I wear office clothes to get office like vibe at home. I then do a couple of video-conferencing calls with my colleagues to discuss the day followed by client calls.
In addition, I have enrolled for training programs on practice management.
What are the two biggest lessons for you during this phase?
The biggest lesson is overdependence on one asset class i.e. equity. Many distributors don’t focus on asset allocation and rely largely on equity funds to build AUA. In times like this, clients having exposure to safer instruments such as debt funds feel more comfortable when they see their investment portfolio holding up.
Another big lesson is leveraging technology can make life simple for advisors.
In such a difficult situation, how do you keep yourself motivated?
Our primary role as advisors is to help investors stay focused on their financial goals and not get swayed by emotions. Guiding them through this period of heightened uncertainty is critical and requires calm and patience. Hence, I keep telling myself and team that we all will tide over tough times together.
