August 6, 2019

Key Learnings from Network FP Regional Conclave’19: Thane

Yogendra Joshi
Director, Moneybolism Financial Solutions Pvt Ltd

Key Learnings from Network FP Regional Conclave’19: Thane

Today, it is very important to keep expanding your knowledge base. Truly.  “EARNING is a part of LEARNING “. Many of us feel that our education ends once we are out of college. And frankly our education system (any stream you take) is missing the practical aspect and a continuous learning system. We, at Network FP are trying to change that. The Regional Conclaves were one such step in this direction.

We as professionals always have 3 key challenges.

  • Challenges from the markets (Be it equity, Debt, Real Estate)
  • Challenges from the Behavior of clients (We many times end up playing the role of a counselor)
  • Challenges from our own mindset.

The Thane conclave perfectly addressed these key issues through knowledge sharing by the industry experts which was well appreciated by all the delegates. We had a wide range of speakers with an in-depth knowledge base and different styles of working. Let me take you through the important learnings from the talks at the conclave:

SPEAKER 1 – Mr. Vinod Jain – Focus and Trainings is the key to Growth

Vinod Jain shared his 18 years’ journey of success. Jain Investment had a humble beginning in 2001 with a capital of Rs 5000. Today they have changed their client mix and have an average SIP of not less than Rs. 25,000 or an average investment of more than Rs. 25 lakhs per customer. Every time you want to go to the next level of business, you need to increase the standard of servicing, product mix as well as client mix. His key area of focus is servicing the client, technology enhancement and Team management with exhaustive training of more than 2000+ hours in last 18 years. He has most of his staff on 100% variable salary.

SPEAKER 2 – Mr. Abhishek Gupta – Clients Don’t Expect Extra ordinary returns.

He started his journey as an IFA in 2009, after the sub-prime crisis. He conducts regular Investor Awareness Programs, which in turn help him to get more clientele. He focuses on regular reviews of the portfolio and books profit if the client has got good returns. He suggests that we should focus on the client’s behavior rather than returns on the portfolio. The client is not expecting huge returns but for you to understand them. He believes in a focused business practice which helps him to serve the client well. His key belief is to be true to your clients and have a concentrated product mix which helps you to grow your business through thick and thin.

SPEAKER 3– Mr. Chirag Karia – QGLP Technique of MOSL

Mr. Chirag Karia is a Senior Group Vice President at Motilal Oswal. He explained that across all segments of Motilal Oswal, research is the key and knowledge of each employee is extremely important.

But what really runs the investment decisions across all Motilal Oswal segments is a process known as “QGLP”

Q= Quality of the business and management

G= Growth in earnings and sustained RoE

L= Longevity of the competitive advantage or economic moat of the business

P= Buying a good business for a fair price rather than buying a fair business for a good price.

SPEAKER 4 – Mr. Sadique – Minimum Revenue Per Customer (MRPC)

Sadique explained the importance of establishing a “Minimum Revenue Per Customer”. He had interviewed more than 50 established financial advisors in the country with various models like “Only commission”, “Fee only” and “Hybrid Model”. This is a very innovative approach to grow our business and explains to us that it is at times important to say “No” to our prospective client too.

SPEAKER 5 – Mr. Avnish Jain -Risk In Credit Risk Funds

Mr. Avnish Jain explained various risks in credit risk funds like “Credit Quality Risk”, “Reinvestment Risk”, “Liquidity Risk”, “Default Risk” etc. in  very simple language. He also explained how his fund house is mitigating all these risks in the current scenario. He also explained the suitability of various debt products.

SPEAKER 6 – Mr. Gaurav Goyal – “Have Krishna in Your Life”

Mr. Gaurav from Principal explained the current market share of equity AUM and our role in the same. He explained very well about businesses’ building blocks like “Market Opportunity”, “Professional Opportunity” and “Customer Value” in this VUCA world. He had 7 unique questions for IFAs to introspect on. He explained the unique concept of “Feed Forward” from customers and the concept of having a mentor…

“Do you have Krishna?”

SPEAKER 7 – Mr. Steven Fernandes – Trust is the backbone

In financial services, the most important aspect is the Trust and Transparency that we are able to generate and share with our clients. Networking helps in generating trust. He shared his social initiatives like “Teaching Kids about money”, “Trekking with Clients”, “Community and Library tie ups for Financial awareness seminars” etc with his clients too.  He also shared that he gets many clients as his name prominently appears in “Google Search”.

SPEAKER 8 – Mr. Tarun Birani – Components of Successful Advisory

Mr. Tarun explained some concepts very well without going into numbers. He explained that compound interest is like growing Chinese Bamboo which will not grow for first 5 years and then grow very fast. The concept of Dahi-Handi as an example of Team building where  it is not important “who” is the person to “hit the matki” but it’s  teamwork which has accomplished the huge task. This Dahi Handi concept was very well understood and appreciated by all delegates. He touched upon important business aspects like “Perpetuality of business”, “Purpose”, “Transparency”, “Nobility of Profession”, “Training the team”, “Investing in your Business” etc.

SPEAKER 9 – Mr. Kartik Zaveri – Your income depends on how big problem of the client you are addressing.

Kartik explained the importance of knowledge and skills you bring to the table to address various complex problems of the clients. In 2014 he did his LLB and is now helping customers in setting up trusts and dealing with Family issues to bring value addition in his advice. He shares a lot of practical experience with customers and he shared his learnings from it with us all.

5 Key Points to take away from the conclave –

  • Focus on Processes of the business
  • Continuous learning for “TEAM” is important
  • Have a Mentor “Krishna” in your life.
  • Sustaining and Growing your Business is important
  • Challenges will be there but have patience and Trust your Journey


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