Globally, India has the second largest number of freelance workers after the United States with more than 15 million individuals working on their own in diverse sectors. However, people who are self-employed are not entitled to employee benefits like the salaried workforce. Hence, financial advisors who have self-employed clients must take the following steps to…
DetailsThe Sensex hit the 40,000 mark in May this year. It has taken the index more than 13 years to reach this level after it crossed 10,000 in February 2006. Here are the top 3 lessons learnt during this period which every financial advisor should know: Stop searching for the ultimate scheme Clients tend to…
DetailsFinance Minister Nirmala Sitharaman presented her first Union Budget and also the first of Narendra Modi 2.0 government. Here are 5 key takeaways from Budget 2019: 1) Towards a $5 trillion economy Finance Minister Nirmala Sitharaman opened her speech with a target of making India a 5-trillion-dollar economy. She said that the goal was “imminently…
DetailsClients are likely to get worried about their investments and returns in volatile markets than in stable conditions. Moreover, watching news and access to information online only adds to their panic. As their financial advisor, you must be prepared to answer their queries promptly. One of the common questions asked by clients is about earning…
DetailsPlanning for retirement is one of the key goals of clients. They wish to have the same lifestyle after they stop working and do things that they like. In order to make sure that your clients don’t face any financial difficulties during retirement, they need adequate retirement corpus. Given below are 3 popular tools financial…
DetailsEvery financial advisor knows the significance of great communication skills to boost their business and convert prospects into long-term clients. Mentioned below are 3 vital goals that can be achieved only with the help of strong communication skills 1. Get a complete picture of prospect’s objectives Financial advisors will be able to obtain a comprehensive view…
DetailsAll financial advisors wish to be successful and acquire more clients. However, not every one of them can understand the importance of being passionate about their business. This makes it difficult for them to attain their objectives. The financial advisory business is about helping other people. It involves listening to them and guiding them through…
DetailsProspects might not understand your value or choose you as their advisor in the first meeting itself. Financial advisors should not wait for them to respond, they must always follow-up by calling them directly. Given below are some innovative approaches to follow-up with a potential client: Send a gratitude email After your meeting with a…
DetailsMeeting a client for the first time offers advisors the opportunity to develop a strong bond needed to form a long-term association. Any mistake committed in this interaction can turn things in the wrong way. Here are the 4 top common mistakes a financial advisor should avoid in the first client meeting: 1. Using too…
DetailsAs per a recent report by Deloitte India, millennials are the main breadwinners in India with approximately 47% share in the working age population. Falling in the age group of 18-35 years, millennials are the biggest demographic class in India and have high amounts of disposable income. Tapping this segment can help advisors to grow…
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