There are many financial advisers in the world and many are wondering whether they will be replaced by an algorithm! Sure people can create software that can replace financial advisers, but certain things will keep the client with you, if you do it well: 1. Establish a great relationship: If you are the ‘Go To’ […]
When I interact with IFAs they have this major complaint: “MANY OF MY CLIENTS DO NOT LISTEN TO ME” This is true not just for IFAs but also for other professionals like Chartered Accountants, Lawyers, doctors…How many times have you said (or heard from a fellow professional) “my client makes a mess and then expects […]
Every dentist goes to a dentist, right? Every Counsellor hires a Counselor for himself -he needs it desperately. So should every IFA have an IFA? An Ifa thinks it is a great idea to consult an Ifa. However when it comes to his own money ..he prefers doing it himself !! Why so? These are […]
Here are some of the confessions of a very successful IFA. Exactly why it merits being mentioned : 1. I play favorites with some fund houses: It has taken me a very long time to establish relationships with about 5 mutual fund houses. I recommend only their products. Sure there are about 40 other fund […]
I am not sure this is correct, or that I am speaking on behalf of all the investors in the country….but generally based on some random feedback: 1. Most clients expect the IFA to be polite: If the client has been cheated / looted by the Bank, keep quiet about it. Especially if it is […]
I am perhaps one of those rare people who say ‘An investor is personally responsible for Ruining his portfolio’. Of course there are people who help him on the way, but primarily he and he alone is responsible. A financial planner makes some assumptions about client behavior. Let us see some of the impossibly irrational […]
Many people do not have their OWN financial goals, so a cut n paste job has to be done. Which means you will HAVE to take the society’s goals and cut paste on YOUR life. So let us take the GOALS that SOCIETY wants a BOY to have (sorry for the girl the goals are […]