Network FP Thinktank is an Online Professional Journal by Network FP wherein we share the articles written by top-class financial advisors and industry thought leaders from across India and the world.
Surrendering policies – a painful but necessary decision?
Sadique Neelgund
June 6, 2011
Reading Time: 6 minutes The most prominent among the common mistakes made of clients is buying of a wrong insurance policy pushed by an insurance agent. Almost all the clients we deal with have at least a couple of dud insurance investments. It’s a very hard decision both for the planner to recommend surrendering a policy and a client to execute such a recommendation.
Read MoreDo it Yourself Vs. Hiring a Financial Planner
Sadique Neelgund
May 17, 2011
Reading Time: 6 minutes Consumers will always have the choice to manage money themselves or seek professional advice i.e. hire a financial planner. Check out the factors which will affect the decision of individuals in this regard. And as a financial planner do you think our community should support “Do it Yourself” individuals? Dont miss out the comments section.
Read MoreShed your current practice model to be a truly successful IFA
Sadique Neelgund
May 7, 2011
Reading Time: 5 minutes IFAs have to transition from being representative of the manufacturer to being representative of the client. Regulatory changes are creating a paradigm shift in the industry. IFAs need to recognise this and put a strategy in action to move with the times.
Read MoreSelling is not a bad word…Stop feeling guilty
Sadique Neelgund
April 5, 2011
Reading Time: 5 minutes Selling is not a bad word. Mis-selling is. In the regulatory zeal to eliminate mis-selling, selling itself is being eliminated. Many financial advisors who are ethical are being pushed to the point where they are now feeling guilty about the word ‘sales’.
Read MoreCan ‘profit’ exist without ‘ethics’ in FP Profession?
Sadique Neelgund
March 20, 2011
Reading Time: 4 minutes Nobody wants to talk about the most important aspect of financial planning profession – Ethics. But it’s high time that we understand unethical practices which ignore values such as honesty and integrity in conducting their financial planning business ultimately break down and is not profitable.
Read MoreGrill your clients hard for a super effective data gathering
Sadique Neelgund
March 15, 2011
Reading Time: 6 minutes During the data gathering meeting, dont be apprehensive about upsetting your prospective clients, just do your job… just be a financial planner who is genuinely interested in helping his/her clients! And also achieve more than just collecting numbers during the 2-3 hours you spend with the client.
Read MoreDon’t wait for elephants to send you clients for FP
Sadique Neelgund
February 27, 2011
Reading Time: 6 minutes For us to succeed as financial planners and this profession to take deper roots, the consumers should know what is financial planning, how it can benefit them and who is the right person to do it for them. Although government can make a huge impact if they act fast and firm on this issue, I dont think we as FPs should sit and wait for this to happen. Financial Literacy is too big a cause and we all can contribute in our individual capacities.
Read MoreEasiest way to make tough clients pay FP fees
Sadique Neelgund
February 21, 2011
Reading Time: 5 minutes Clients pay us when they see some concrete value in our services, we need to quantify the value in some way. Here is one of the ways to show prospects the value that we can bring to table. many people have a habit of procastinating and they know it – show prospective clients what they might loose by not getting a financial plan done “now”.
Read MoreUse FP Pyramid to prioritize goals for confused souls
Sadique Neelgund
February 20, 2011
Reading Time: 5 minutes Setting and prioritizing goals is a very critical step, client’s expectation from a financial planner depends on this step and helps you both to be on a common page. Usually clients talk about primary goals but when you expose them to Financial Planning Pyramid approach, they understand the bigger picture of financial planning and also differentiate you from other financial intermediaries.
Read MoreI took up FP because I failed bigtime at HDFC & Citi
Sadique Neelgund
February 15, 2011
Reading Time: 3 minutes I am often asked by my friends, family and associates how did I venture into this new field of financial planning. Unlike many in this profession now, my entry into Financial Planning has been by chance rather than by transition.
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