You start life and some relationships as a financial adviser but then you go beyond!

Many potential customers who are looking for financial advise sometimes go beyond finance. At age 24 or at 52 your financial personality is just a sum total of your financial foot print. You might just be AFRAID of money – it does happen. People who have seen parents, cousins, etc. fight or even crib about money may have a very mixed kinda feeling towards money.

I know parents who are JEALOUS of their own kid’s good financial performance. This is more true of control freak FATHERS who feel if they control the FINANCES of the child (and the child is dependent on the potential inheritance) they can control the kid!

I know of children who feel very insecure about investing in anything other than a bank fixed deposit.

So when a person walks in – he/she could talk about – their own past, marriage, spouse not seeing eye to eye on finances, children being irresponsible with money. Sometimes there is frustration (I had to support my parents who ran out of money in their 60s and they lived to their 80s – was the complaint of a 55 year old son), anger (why do I have to support my parents my sister does nothing, but tomorrow she will want a claim on the Santacruz flat), fear (will I outlive my NET WORTH), feeling of being a failure (I must be the ONLY parent in the world who could not afford to pay for IIT classes – Rs. 3Lakhs is too much!!), …..

When a client talks, as an IFA YOU HAVE TO LISTEN…

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  1. The manner in which the past influence decisions for the future is just astounding.

    So grateful that we were sent to the bank to deposit div warrants as kids, too short to reach the counter.. yet, such learning.

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