If on your way to prosperity you have accumulated many advisers how do you ensure that they are on the same page? Let me tell you the woes of one of my friends. Typically he has 3 Relationship Managers, one I F A, one Portfolio Manager, one C A who files the Income tax returns. […]
Caller: Hello Mr. Subra…may I come to see you? Me: Sure..what is it regarding Caller: a mutual fund NFO Me: You know my stand…why are you even THINKING of coming…? Caller: No sir need a favor… The caller is a small time mutual fund and other financial products distributor who does some general insurance, life […]
For a new person is it worth being an IFA? – Independent Financial Advisor for those who do not know what is an IFA. My take is if you are professionally qualified and can get a decent job in the outside world, it is not worth being an Ifa. We recruit Chartered Accountants at Rs. […]
I will also do a story saying that the IFA is doomed…and have done one already. However when I say IFA is king I mean there is a huge market of IFAs to whom you can sell. Obviously like all customers the I F A too will buy based on Greed and Fear. The Greed […]
One hears that there are upwards of 3 million IFAs selling some financial product or the other. My take on this is – not more than 10,000 are in it by choice. Most of them would happily take up a job in the financial services sector. Some of them will not get a job because […]
http://www.subramoney.com/finance-for-non-finance-people-workshop/ Fee based Investment counseling is the cure to all problems, so say the Learned Men. They ought to be correct, because all channels are also saying it. Now I met a ‘Good Intentions’ – we will only do what is good for the client financial planning company. They wanted their ‘planners’ to be able […]
One of the most important things I HAVE to do while training Relationship Managers in banks is to keep reminding them that they are not: a. Fund Managers nor are they b. Financial planners. The roles of each person – inspite of some common areas – is vastly different. Similarly another worry is – the […]