This is the post made after a lot of observation about meeting many many life insurance agents, mutual fund agents, bankers, etc…Let me not bother about writing a text…here is the list of good qualities that you should look for…
- He is clear in his communication – he says things the way it should be said, and makes no bones about it.
- Holistic thinking – he talks about your life, health, career, …to arrive at knowing what exactly you want. It is his/her job to find out why you think about investing, saving, insurance, etc. in a way that you think. For example it may be far more important for you to cut down 20kgs than starting the SIP that your adviser is telling you to do. So make sure that you find a connection with the IFA – mental compatiability is a MUST.
- Establish Trust easily – by whatever methods, the IFA should be able to make you comfortable and earn your trust easily. Of course the trust should be genuine – EXACTLY why IFA should be looking to referrals for growing their business. Creating trust and getting referral are like chicken and egg – you never know which lead to what! Your gut tells you normally tells you in the first 30 seconds…but take your time – maybe 30 minutes of talking and then decide.
- IFA chooses a client with the same diligence with which you choose an IFA! Most of the successful IFA are today not adding full fledged clients. Just advising on investing is fine, but to track, make changes, etc. is not something that clients want.
- They are proactive without making unnecessary changes. Annual review or reviewing when there is a change in some way in the clients life.
- Responsive: a good IFA is tactically responsive – but some simple tasks may not get done easily. However if an Ifa does not respond to your emails, however, it maybe a good time to change your IFA.
- Emphasis on you, your inflation, your goals…rather than push products! I am sure you have met the sales guys of bfsi!
- He tries to teach you about all products, and plays patience..with you, your spouse…etc..
More to add….of course..
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