Network FP Thinktank

Why Advisors shouldn’t ignore the HUF?

Anup Bansal

Co-founder and Managing Director, Mitraz Financial

July 12, 2016

Reading Time: 3 minutes Anup Bansal, a CFA by profession is the Co-Founder & MD of Mitraz Financial Services Pvt Ltd. Anup has over 15 years of work experience and is a Network FP ProMember. Anup and his team recently bagged The Wisest Advisor Award at the 7th Annual Wealth Forum Platinum Circle Advisors Conference. We congratulate Mitraz Team for this achievement.
In this article, Mitraz’s team shares its insights on the Hindu Undivided Family (HUF). While HUF is not something new to the advisory fraternity, this piece should surely be a good quick recap of the benefits of HUF to your clients. Read the below to know how HUF structure could be put to effective use by your clients to save taxes. As a Financial Advisor, you might want to make your clients aware of HUF and even help them create and manage it.

Which MF Transaction Platform is best for you? A Review by Gajendra Kothari

Gajendra Kothari

MD & CEO, Etica Wealth Management Pvt Ltd

June 23, 2016

Reading Time: 6 minutes Mr. Gajendra Kothari is Managing Director & CEO of Etica Wealth Management Pvt Ltd. Mr Kothari is a CFA Charterholder. He has also done MBA from International Management Institute, New Delhi. He has more than 11 years of experience encompassing both Indian and overseas capital markets. He is a regular columnist for Mint Newspaper under the column title “The Intelligent Investor”. He has also been felicitated the Wealthforum Rising Star Award 2013.

Here, Mr. Kothari, a Network FP ProMember shares his experience working with the different MF transactions platforms available and reviews them for the benefit of our readers. Read the below review to know which platform would best suit your practice for ease of doing business.

Sabbatical Planning – How can advisors help their clients with this New Age Goal?

Prasad Chitre

Chief Financial Life Planner at Clover Solutions

June 21, 2016

Reading Time: 6 minutes Mr. Prasad Chitre is Chief Financial Life Planner at Clover Solutions. He has more than 15 years of work experience in Personal Finance and is a Network FP ProMember. He has also completed the Foundation course in Life Planning by The Kinder Institute of Life Planning. He specialises in Sabbatical Planning and here he shares with us the how, what and why of Sabbatical Planning.

The practice of sabbatical has entered the commercial world in the few years, with major employers such as IBM, Intel, Microsoft, Goldman Sachs, McDonalds, Xerox, Nike, Wells Fargo and American Express offering sabbatical leave programs. Read the below article to know how financial advisors can help their clients seeking a sabbatical i.e. a long break from work.

Gaurav Mashruwala’s Yogic Wealth-The Wealth that Gives Bliss!!

Gaurav Mashruwala

Financial Planner, Author, Speaker, Columnist

May 12, 2016

Reading Time: 7 minutes India’s renowned Financial Planner Gaurav Mashruwala’s book Yogic Wealth has been well received by readers as well as the financial advisory fraternity. Written in small chapters and with ample examples, the author drawing his learnings from ancient scriptures gives a very fresh & interesting perspective on people’s behaviour and relationship with money. After the successful run of English edition, the publishers have also released the Gujarati edition.

We requested Mr. Mashruwala to share couple of extracts from the book for Network FP’s readers to which he kindly consented. Below are 2 extracts from the book Yogic Wealth. I throughly enjoyed reading the book. Hope you enjoy reading it too.

Krishna Impact – The Easiest Way to Communicate the Importance of Hiring an Advisor

Jigar Parekh

Director at Anchoredge

March 17, 2015

Reading Time: 7 minutes Story telling is known to be one of the most effective way to grab attention, engage your audience and convey difficult messages. The Alpha added by Advisers is not something that many investors get easily. To help the investors come out of this ‘Unknown’ situation, Advisers can leverage classical stories and engage prospects on how they can better win the money game, with the right adviser on their side.

The best players in the world need a coach. So why not you, Mr. Investor? Let’s go explain this to our clients with the Krishna Impact

Download Income Tax Calculator FY 2015-16 in Excel (India)

Sadique Neelgund

February 28, 2015

Reading Time: < 1 minute Download and check out our popular Income Tax Calculator FY 2015-16 in Excel which incorporates the recent changes in Indian Union Budget 2015.

The 5 Pillars of Advisory Technology

Sadique Neelgund

January 7, 2015

Reading Time: 6 minutes Getting clients is not difficult but delivering consistently with a quality standards can be a challenge unless we have setup a technology enabled framework. Managing growth is an issue that most IFAs face but is also an under focused area. Given the market dynamics, regulatory framework and early phase of advisory model in India, many of us prefer to grow in an incremental manner. So this means we don’t design for growth, we take it as and when it comes. Having an integrated view of your business with technology included can significantly be a winning point, in the long term. In this article, Faizal Bag, Managing Director at Pulse Labs Research & Technology Solution gives a Bird’s Eye view of pillars of advisory profession and suggests to look at different models of integrating technology platforms.

Insurance & Risk Management – Financial Advisors need to get it Right

Rahul Agarwal

December 16, 2014

Reading Time: 4 minutes When you go to the doctor and get medicines for your stomach pain, you don’t go back again after a year and ask the Doctor for interest or return on the fees you paid. The fees you paid is the cost of getting a professional advice. Similarly, insurance premium is the cost being paid to the insurance company for taking over the financial risks from us.

While this sounds simple, clients don’t get it. They expect a ‘return’. Courtesy, how the insurance products have been sold so far. Risk Management is a key focus area in financial planning and while we help clients to grow their wealth, we also need to help them identify the possible financial exposures and design right insurance solutions.

In this article, Rahul Agarwal, Founder Director at www.121policy.com explains the basics of insurance, reviews the current challenges and shares his thoughts on how we can move forward. He asks us to take a client focused approach and work for long term benefits.

B.E.S.T Traits: Personality Based Client Handling in Personal Selling

Sadique Neelgund

December 12, 2014

Reading Time: 4 minutes As advisors, we meet different kinds of people. Some engagements work out and some don’t. Like the way client’s choose advisors to work with, we as advisors also choose clients to work with. Getting familiar with the thought process and decision making traits of clients can help us to better manage the engagements. In this article, Shibaji Bose, Director at Consultree India Pvt. Ltd. suggests that clients can broad be categorized in four traits i.e. Bold, Enthusiastic, Steady & Technical. He analyzes each type and offers suggestions on managing these clients. Transaction is human and takes place between two people while the successful outcome of the transaction is the engagement, says Shibaji.

Professional Liability Insurance for Financial Planners & Advisors

Sadique Neelgund

December 10, 2014

Reading Time: 4 minutes Given the nature of the engagement, large framework, dynamic market situations and changing regulatory forces, we may end up with a financial exposure with clients possibly dragging us in a dispute over an unfavorable outcome. The kind of service we provide, needs us sometimes to make judgement calls. While we advise robust risk management practices in our clients financial plan, we too have financial exposure in such circumstances. Swam Saurabh, Research Analyst at Pulse Lab explains the Professional Liability Indemnity suggests us to consider taking this. What do you think?