Investors must not get frightened and cash in their investments in a hurry in the present market scenario, since it will convert their speculative losses into real ones. This is the message mutual fund distributors should communicate to their long-term clients. Tell them that their funds are in expert hands and they should not take…
DetailsThere are some vital financial tasks which your clients must complete before March ends. Given below are the top 5 important things which must be finished before 31st March, 2020: 1. Compute earnings for the year: Many clients are unable to calculate their total income for the year correctly. Financial advisors can guide them by asking…
DetailsNumerous articles are published on International Women’s Day talking about how women have been successful in every sphere of life whether it is education, sports, employment etc. However, when it comes to wealth management, women are still not completely involved in money decisions. Moreover, many women find it difficult to communicate with financial experts in…
DetailsTechnology has largely changed the way people manage their money. They can view all their investments on their phone or start a SIP plan in few seconds. Mutual fund distributors have realized the importance of technology and its role in enhancing client experience. Here are some ways they have adopted to complement their services …
DetailsIf a financial consultant wants to retain his clients, he has to work sincerely to maintain the trust and strengthen the relationship in the long term. Never commit any of these mistakes, or you could end up being replaced: 1. Not offering top-class service The key factor that makes a financial consultant stand out from…
DetailsIt is not easy to get referrals, and it is certainly tougher to convert a prospect into a client. Once the client comes on board, financial advisors must make an effort to turn them into loyal clients. Here are some useful tips to develop a trustworthy relationship between advisors and new clients: 1. Offer a…
DetailsMutual fund investors prefer ELSS (Equity Linked Saving Schemes) since it is an ideal tax-saving product. Individuals who invest in ELSS can claim deduction of up to Rs 1.5 lakh in a financial year under Section 80C. In Budget 2020, the Finance Minister proposed a new tax system which makes it voluntary for taxpayers to…
DetailsSelecting a financial expert is a huge decision for any prospect. To determine whether you are the ideal advisor for them, they will certainly have some questions in mind before they give you the nod. Listed below are the top 3 questions you are likely to be asked: 1. Why should I choose you as…
DetailsIn the much awaited Budget 2020 which was presented last week, Finance Minister Nirmala Sitharaman stated certain new income tax guidelines including change in tax slabs for individuals earning up to Rs 15 lakh each year. Financial advisors must explain these latest rules to their clients which will be effective from FY 2020-21. The new…
DetailsTax incentives are provided by the government to individuals who invest in instruments for the long-term. Being a financial advisor, you must select the correct tax-saving option for your clients, keeping in mind whether they have just started their career, are in their 40s or retired. Here are some tips for tax planning as per…
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