I am a chartered accountant and an MBA from IIM Kozhikode and I wish to continue my work as a mutual fund distributor so as to help others in creating and maintaining wealth. Any suggestions as to how should I garner more customers?
A few insights to help win over more customers:
Improved client engagement - leverage on our exclusive Certified Financial Guardian certification and Privilege’s such as Research material, Expert Fund analysis reports, e-learning courses, Financial Blogs and more. Log onto -www.certifiedfinancialguardian.com to learn more.
Optimum use of technology - Digital advances have not only ensured distribution efficiencies, but also assisted in creating predictable revenue streams in the low-margin business. Moreover, there have been several industry-wide initiatives to help distributors build digital capabilities in order to serve customers better.
Ethical selling - Sell to them only what you, as a customer would buy, and only after thorough research and understanding of the product. As an Advisor you must keep advice simple and understandable for your clients. Caring for your customer’s portfolio, like it is your own…
Focus on processes - There are two approaches to decision-making:
Reflexive: Going with your gut, which is effortless, automatic and, in fact, is the normal default option.
Reflective: Logical and methodical, but requires effort to engage actively. The more we rely on reflexive decision-making, the more prone we are to self-deception biases, heuristic simplification, influences of emotion, influences of herding, and being influenced by the behavior of others, which one should avoid.
Keep your Advice simple and not Fashionable - Avoid advising exotic products - there are several products out there that need special expertise to fully understand. Avoid those. Keep things simple for you and the customer. Maintain Fiduciary standards - Our purpose as custodians of the finances of our customers should be singular - to put the interests of our customers first and paramount, no matter what the issue. We have, as custodians of the customer’s money, a critical fiduciary role to perform. Exist to ensure that those who manage other people’s money act in their beneficiaries' interests, rather than serving their own interests. Today, investors expect high level of transparency in information.
Use an Asset Allocator to study the risk appetite of clients’ and recommend the best suited basket of funds - Use technology to enhance those skillsets and redefine your role - as a behavioral coach, something that a machine cannot offer. With the rise of the Robo-Advisory space, the role of the traditional Advisor, especially in the developed world, seems to be under threat. Well, we don’t think so! We believe this is a huge opportunity for the Advisor community to capitalize on these changes and develop skillsets and roles. At Quantum, we offer to you a Smart Asset Allocator after completion of the Certified Financial Guardian program as a Partner Privilege.
Offerings across asset class and products - With emergence of high risk-taking ability in the millennial generation, HNI investors have shown higher interest in evolved products like AIF, PMS etc. Insurance products have also gained momentum and can be offered to retain investors.
The new age millennial generation as an emerging client segment is more financial savvy, demanding and sophisticated seeking personalized service and innovative products backed by advisory and individual capability.
Risk Factors: Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
Please visit - www.QuantumMF.com to read Scheme Specific Risk Factors.
Investors in the Scheme(s) are not being offered a guaranteed or assured rate of return and there can be no assurance that the scheme's objective will be
achieved and the NAV of the scheme(s) may go up or down depending upon the factors and forces affecting securities markets. Investment in mutual fund units involves
investment risks such as trading volumes, settlement risk, liquidity risk, default risk including possible loss of capital. Past performance of the Sponsor / AMC/ Mutual
Fund does not indicate the future performance of the Scheme(s). Statutory Details: Quantum Mutual Fund (the Fund) has been constituted as a Trust under the Indian Trusts Act,
1882. Sponsor: Quantum Advisors Private Limited. (liability of Sponsor limited to Rs. 1,00,000/-) Trustee: Quantum Trustee Company Private Limited. Investment Manager:
Quantum Asset Management Company Private Limited (AMC). The Sponsor, Trustee and Investment Manager are incorporated under the Companies Act, 1956.