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.
Are Financial Planners in India shooting at each others feet?
Sadique Neelgund
March 12, 2012
Reading Time: 3 minutes Financial Plans are now being offered at as low as Rs. 2,500 by some and below Rs. 15,000 by many Financial Planners in India . In an attempt to overdo each other and get customers quickly, have we brought down our own earnings. In a sense, we have set the expectations for the average investor that the cost of a financial plan is inexpensive, if not cheap. But in this war, where are we headed?
Read MoreDoes Financial Planning Software Improve or Destroy Productivity?
Michael Kitces
Head of Planning Strategy, Buckingham Wealth Partners
February 9, 2012
Reading Time: 5 minutes The financial planning planning process drags out, taking hours and hours to create a plan and many weeks to deliver the recommendations to clients. But when did the complexity of financial planning software begin to drive the planning process, instead of being a tool to expedite it? Has our financial planning software become the enemy that’s ruining our productivity, instead of improving it?… by Michael Kitces
Read MoreUse this free tool for sending great email newsletters to your clients
Sadique Neelgund
January 20, 2012
Reading Time: 2 minutes Network FP has been using Mailchimp application for sending out emails to its members. We think Mailchimp is one of the best emailing solutions available on internet. The beauty of Mailchimp is – its very easy to use, has great designs, powerful report generation and fantastic delivery record. And of course it’s is free!
We would encourage Financial Planners to use such a mailing solution to send professional looking newsletters & updates to their clients/prospects on a regular basis. (Instead of plain old mailing with bcc and cc). Check out some details and resources on how to use Mailchimp effectively.
Tech tools to increase your efficiency in advisory process
Sadique Neelgund
January 19, 2012
Reading Time: 4 minutes In the financial service world, there are numerous examples of gadgets that may be used by financial advisors. From desktop tools to software to peripheral equipment, there are a variety of such items from which advisors can choose. The challenge is finding those tools that can actually improve the efficiency of the financial advisor instead of creating an unnecessary distraction.
Read MoreOne-Page Business Plan of a Fee-only Financial Planner in US
Sadique Neelgund
January 17, 2012
Reading Time: 3 minutes Here is a One Page Business Plan of a Fee-only Financial Planner – Mr. Jim Freeman, Founder, Financial Alternatives based in San Diego, USA. It is good if a Financial Planner/firm develops a crisp and clear business plan which will guide him/her towards establishing a successful practice or take it to the next level. Take a look and get inspired!
Read MoreWhat is the proof that you have given “The Right Advice”?
Sadique Neelgund
January 16, 2012
Reading Time: 3 minutes Financial Planners should serve their clients while protecting themselves. This can be done by rigorously seeking to develop & apply five proofs to their client advisory process. What is clear from both recent regulatory reforms and best practice discussions is that the client’s informed consent to the risk in their financial plan is of critical importance. Many financial advising practices fail to help investors appropriately understand financial risk. In essence they do not meaningfully establish investors’ investment expectations…
Read MoreIn 2012 – Let’s make change work in our favour!
Suresh Sadagopan
CEO, Ladder7 Wealth Planners Pvt. Ltd.
January 10, 2012
Reading Time: 4 minutes Every now and then SEBI keeps changing regulations that affects advisory business. But these are to be seen as minor irritants and one needs to see how it can be surmounted. There seems to be options available… the situation is not all that bleak. Change is constant. We may like it or hate it. But, change is relentless. It is better to embrace change than to fight it. Let’s resolve in 2012 to make change work in our favour!
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 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”.
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