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JOURNEY FROM CFP ASPIRANT TO CFP PRACTITIONER
ZEAL TO TRANSFORM FROM
FROM A TRADITIONAL ADVISOR
TO A FINANCIAL PROFESSIONAL
WHICH PROMPTED ME TO TAKE UPTHIS
PRACTICE
BECAUSE IT TAKES CARE OF THE FINANCIAL BASKET OF ALL
INDIVIDUAL CAREER & THEIR ASPIRATIONS
BENEFITS OF DOING WITH KAYUR SHAH
IT HAS GIVEN ME SYSTEMATIC APPROACH TO THE PREPARTION OF ENTIRE EXAMINATION PROCESS WITH STEP BY STEP ANALYSIS
WHICH IS CERTAINLY USEFUL FOR ANYONE AND EVERYONE WHO IS ASPIRING FOR CFP PROFESSION
MY FAVOURITE SUBJECTSRETIREMENT AND TAXATION
BECAUSE ANY PRODUCT WHICH WE OFFERS HAS TO BE ASSOCIATED WITH TAX EFFICIENCY & TAKE CARE OF THE MONEY GROWTH BY COMPOUNDING IN THE LONGER TERM
RETIREMENT PLANNING TAKES CARE OF THE PROVISION AT UNPRODUCTIVE AGE
WHICH CAN PROVIDE PASSIVE INCOME AT UNPRODUCTIVE AGE OF ANY INDIVIDUAL IN PRESENT DAY SITUATION
IT SHOWS THAT 65% OF PEOPLE IN INDIA ARE STILL WORKING EVEN AFTER 60 YEARS OF AGE OR THEY ARE DEPENDENT ON THEIR CHILDREN TO SUSTAIN
THEIR LIVING STANDARD
ONLY 4% OF PEOPLE ABLE TO TAKE CARE OF THEIR PASSIVE INCOME
SO RETIREMENT PLANNING WILL ENABLE THE PROVISION OF PASSIVE INCOME AT UNPRODUCTIVE AGE BY TAKING CARE OF ALL INFLATION ASPECTS
CLIENT ACQUISITION & RETENTION
FEASIBLE AND POSSIBLE TO GET FROM EVERY SPHERE OF
OUR ROUTINE LIFE
STARTING FROM PAPER BOY TO ANY ONE
BECAUSE IN INDIA PEOPLE ARE IGNORANT ABOUT SAVING & PLANNING
THE TARGETED SEGMENTS ARE SALARIED PEOPLE, RETIRED SEGMENT, HNI’S & BUSINESS PEOPLE OF ALL SPHERES
NEVER HESITATE TO TAKE REFERERLS FROM THE CLOSE CLIENTELE THOSE WHO ARE EXCITIED WITH OUR ADVICE AND RESULTS
TO THE CLIENTS WE NEED TO USE THE UPDATED TECHNOLOGY, DELEGATION & STAFF EFFECTIVELY
THE HONESTY AND INTEGRITY OF STAFF IS MORE ESSENTIAL IN THE PROCESS OF ACQUIRING CLIENTELE AND THEIR SERVICING
IT SHOULD NEVER BE TAKEN AS A EXPENDITURE AS IT IS A PART OF INVESTMENT PROCESS IN THE END
RETENTION
THE MOST CHALLENGING ASPECT IN TODAY’S ENVIRONMENT IS THE RETENTION APART FROM ACQUISITION
KEEP THEM ALWAYS DELIGHTED CUSTOMER PROFILE TO A CLIENTELE
IT IS ALWAYS SAID THAT A CUSTOMER IS TO BE CONTACTED ON 16 OCCASSIONS IN A YEARSTARTING FROM HIS BIRTHDAY TO ALL OCCASSIONS OF THE FAMILY AND FESTIVALS BY
SENDING BIRTHDAY GIFTS
Philosophy: ‘Learn to give so as to get’’
THUS WE CAN MAINTAIN A BONDING RELATION & A DELIGHTED ATMOSPHERE
KEEP UPDATING THE CUSTOMER REGARDING MARKETS , WITH NEWS LETTERS EITHER IN PHYSICAL OR ELECTRONIC MODE ON A REGULAR BASIS
LOGICAL & MAGICAL STEPS TO ACHIEVE REASONABLE AUM
SAVING ALWAYS SHOULD START FROM HOME
BECAUSE THE BASIC CONVICTION SHOULD STARTS FROM OUR OWN EXPERIENCE
INTEGRITY, HONEST & ETHICAL PRACTICES ARE THE KEY TO SUCCESS IN BUILDING AUM
ALWAYS TRY TO GIVE A SHORT TASTE OF INVESTMENTS AND ITS GROWTH & ALWAYS KEEP IN TOUCH WITH CLIENTELE WITH READY UPDATES ALONG WITH SERVICING ASPECTS
GIVE ONLY THOSE PRODUCTS WHICH SUIT THE CUSTOMER NEEDS ACCORDING TO THEIR AGE, PURPOSE OF INVESTMENT, RISK APPETITE & ATTITUDE
IN SIMPLE TERMS DON’T OFFER CHOCLATE INSTEAD OF COFFEE TO A CHILD
THE INVESTMENTS OF TWO INVESTORS OF THE SAME AGE ARE NEVER BE ASSUMED TO BE THE SAME AS THE RISK APPETITE AND PURPOSE MAY VARY
NEVER IGNORE DEBT PRODUCTS
NEVER EVER FORGET THE 1ST RULE
OUR SOUL PURPOSE OF ACQUIRING INVESTMENT SHOULD BE IN THE BEST INTEREST OF CUSTOMER
EVER AND ALWAYS SHOULD BE THE BEST INTEREST OF CUSTOMER AND CUSTOMER ALONE (THE IMPORTANT RULE)
IT SHOULD NEVER BE FOCUS ON OUR RETURNS
EQUITY PRODUCTS ARE EXPECTED TO YIELD HIGH RETURNS IN THE LONGER TERM
BUT DEBT PRODUCTS ALSO SHOULD BE PART OF PORTFOLIO AND ACCORDING TO THE CUSTOMER WE CAN STILL USE VARIOUS STRATERGIES WITH THE CONSENT OF CLIENTELE WITH EFFICIENT TAX RETURNS
AS THE INVESTMENT PATTERN ALWAYS SHOULD HAVE A SPECIFIC PURPOSE & GOAL
WHICH SHOULD CLEARLY DEMARKETE BY THE CLIENTELE
AT ANY POINT OF TIME THE CORPUS SHOULD NOT BE DISTRUBE IT’S THE SPECIFIED GOAL
HOW TO SET UP SUCCESSFUL FEE BASED PRACTICE
A CFP IS SAID TO BE A FINANCIAL DOCTOR
LIKE A DOCTOR THIS PROFESSION GIVES A LOT OF CHALLENGES LIKE UPDATION OF KNOWLEDGE ON DAY TO DAY BASIS AND ELEVATION TO THE HIGHLY PROFESSIONAL
STANDARDS AND DEDICATED PRACTICE
WHICH ALL LEADS TO THE ONLY SOLE AIM OF THE BENEFIT OF THE CUSTOMER BASE
THE FEE STRUCTURE VARIES FROM THE INDIVIDUAL, THEIR GOALS & THEIR PLAN (COMPREHENSIVE OR INDIVIDUAL GOAL)
AS A PROFESSIONAL YOU HAVE GOT EVERY RIGHT TO CHARGE THE FEE PROVIDED THE SALE OF PRODUCTS ARE PROMOTED BY THE DIFFERENT ADVISORS
NEVER EVER PROMOTE A PRODUCT WITH THE INTENTION OF GETTING HIGHER REMUNERATION FROM ADVISORS IN THE PROCESS OF ADVOCATING CUSTOMERS
OUR AIM SHOULD BE ONLY ON THE ADVICE BASEAND
ADVICE ALONE IN THE BEST INTEREST OF CLIENTELE
ALL ADVISORS MUST & SHOULD ACCOMPANY WITH THE DISCLAIMER AT THE END
THANK YOU
