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.
Ashwathama is Dead
Amit Trivedi
Owner, Karmayog Knowledge Academy
September 3, 2019
Reading Time: 2 minutes Ethics and moral principles comprise the backbone that enables us to hold our head up high and practice our profession with pride. Legality is often given the place of morality in our profession especially when we are at a cross road between the interest of our client and that of our own pocket. This week’s article, from Mr. Amit Trivedi’s series, talks about this sensitive issue with a very different twist and viewpoint. Read on and ask yourself if you’re the Yudhishtir to your Guru Dron(client)
Read MoreDoes the IT department reverse penalties?
Arvind Rao
Founder, Arvind Rao & Associates
August 29, 2019
Reading Time: 5 minutes Step 6 of the SFA Blueprint talks about retention. We all understand that client retention is often harder than client acquisition. In this world of ever growing competition, we need to constantly create and display value in our clients’ finances and life. We want them to reach out to us first when there is any question that they have, money-wise. This kind of right on the client’s mind demands great responsibility on us, a responsibility of constant learning, innovation and conscious looking-out for the client. This week’s interesting piece by Mr. Arvind Rao talks about some penalties that the Taxman can levy on an assessee and how some of them can be reversed. This bit of information is sure to get you a foot in the door with new clients and undisputed attention from your existing ones…
Read MoreRisk & Its Effect On Consumer Behavior
Suresh Sadagopan
CEO, Ladder7 Wealth Planners Pvt. Ltd.
August 27, 2019
Reading Time: 4 minutes A big part of our job as financial advisors is risk management. This risk arises as much from the client, their thinking and personality as from factors external to the client. While a lot is spoken about managing external risk factors, there needs to be more dialogue on managing the risks arising from the client. How do you manage such risks without understanding what they are? The clients ultimately showcase consumer behavior of different types. And this molds the pattern of risks specific to that client. Read this interesting piece by Mr.Suresh Sadagopan to understand the relationship that risk and consumer behavior have. We hope this helps you to understand better the mindset and behavior of your clients.
Read MoreHow to explain Time Value of Money to your Clients?
Hemant Agarwal
Founder, Rupaiyaah
August 23, 2019
Reading Time: 4 minutes What we do, what we advise, what we implement as financial advisors is based on a very basic concept called the time value of money. While some of us have started our careers on the basis of this first lesson, some others have picked this lesson up along the way. Some of us, however well we understand it, find it tricky to explain it to our clients in a language they understand best.
At Network FP, we understand that learning new things has to be equally balanced with refreshing the things you already know. So let’s dive back to the basics and go through this week’s breezy read by Hemant Agarwal, and see where we stand on the “learn, unlearn and relearn” scale.
How to convert prospects to clients through your website?
Viral Bhatt
Founder, Money Mantra
August 20, 2019
Reading Time: 5 minutes We are in a profession that involves a client-facing job. Just like we cannot be in isolation from our clients, in today’s digital world, we cannot afford digital isolation. Our business needs a digital footprint for survival. Having a website in place becomes imperative for this. Just how we give importance to our appearance and personality, we must ensure that we have a clean, easy to understand but impressive web presence. This week, we have Mr. Viral Bhatt share with us some basic as well as a few advanced tips on building an effective website. He practices what he preaches-he graciously shares with us a few shots from his own website for reference. Read this post to run a quick check against your existing website or to start planning for a new one now.
Read MoreAre you doing enough research before picking a fund?
Hemant Agarwal
Founder, Rupaiyaah
August 14, 2019
Reading Time: 4 minutes Research. This is a term used very often our field. Sometimes a little too often for it to be an effective exercise. It forms the foundation on which the entire structure of an investment /financial plan stands. A shaky foundation is sure to pose a threat to a structure, no matter how big or beautiful it is. Similarly, advice based on ineffective/ insufficient research is destined to more often than not adversely impact the financial future of your clients- sometimes visibly and sometimes not so visibly. Let us not leave any stone unturned to ensure our research always does justice to our advice. Mr. Kaustubh Belapurkar, Director Manager Research, reinforces why research plays an irreplaceable role in advisory. Read on to know more…
Read MoreThe Future of Advisory
Prathiba Girish
Founder at Finwise Personal Finance Solutions
August 12, 2019
Reading Time: 4 minutes Nowadays, any discussion involving our profession definitely has pessimistic undertones of uncertainty about the future of our industry and how changes are “making life difficult” for advisors. This week, we have Pratibha Girish give us a truthful and realistic take on what its going to take to survive in this industry going forward. She talks straight from the heart with no wrappers of fake idealism, at the same time painting bold strokes of pragmatism necessary for bringing a shift in practice management.
Read MoreKey Learnings from Network FP Regional Conclave’19: Mumbai
Vivek Shah
Founder & CEO, Finrise Financial Planners
August 9, 2019
Reading Time: 8 minutes In light of this objective to help financial advisors move from untruth to truth and from ignorance to knowledge, the Network FP Regional Conclave 2019 came to its last destination in Mumbai after traveling to 9 cities empowering and illuminating almost 1000 financial advisors. We had around 150 advisors in the room charged up for learning, unlearning and relearning which would help them to prosper, grow, be happy and make a positive change in their client’s life. Read this Article by our chair of Mumbai conclave Mr. Vivek Shah to read along the learnings from each session.
Read MoreActive learning about Passive Investing
Chintan Haria
Vice President ICICI Prudential Asset Management Company Limited
August 8, 2019
Reading Time: 5 minutes A few tumultuous months and everyone starts questioning the decision to invest in actively managed mutual funds. A debate of active v/s passive investing flares up. We believe that for us as advisors to have any view/opinion on a matter concerning investment decisions of our clients, we must have adequate knowledge to support that opinion. This week, we have Mr. Chintan Haria, Fund Manager and Head- Products Development & Strategy discuss passive investing with us. Read on to understand this category or merely refresh fast facts about the same.
Read MoreKey Learnings from Network FP Regional Conclave’19: Thane
Yogendra Joshi
Director, Moneybolism Financial Solutions Pvt Ltd
August 6, 2019
Reading Time: 4 minutes “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 have various challenges including challenges from the markets, Behavior of clients and even 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. Yogendra Joshi systematically wrote an article comprising of takeaways of individual speakers who spoke at the Thane Conclave.
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