Personal Finance as Passsion

Anubhav Agarwal, CFP CMSenior Technology Manager, Ola

JourneyInspired by Rich-Dad Poor-Dad in 2008

Started self-Investing @ 2009 (job)

Completed own financial plan online @ 2012

Spreading financial awareness in early 2014

Passed CFP in regular pathway. First IT client in 2015

Joined CFP Aspirant Club @ 2014

Started forums: PlanYourWealth, BetterInvest

Currently:Take up financial coaching sessions on an invite basis at Company office/Educations

Benefits of joining CFP Aspirant Club1.Mentor cum friend throughout the process

2.Ease of Concept clarification for all topics

3.Ample practice assignment

4.How to work through financial Calculator

5.Great experience through video learning

6.Available through call for coaching/personal-help - No hesitation

7.No other course material neededNote: Taken video-learning session in July 2014

What do I represent - Young ProfessionalsSegment:

• Age 21 – 28 and high disposable incomes ( on avg ~ 15K+ )

• Limited knowledge of managing personal finance (poor Tax & Debt planning)

• Common mistakes - No/limited insurance & no/limited investment planning

Better environment:

• Evolution of Robo-Advisory

• Better Financial Transparency (CAMS, NSDL’s CAS, IRDA, ClearTax)

• Better regulations (on ULIPs, Health Insurance, etc)

Some tough Financial Planning Questions1. If I die today, how much money will my family be left with?

2. How much of this money will come from my savings/investments and how much from the insurance?

3. Will the money be sufficient for my family to take care off their day-to-day expenses, future goals, pay-off all loans and maintain their life style?

4. Do I know all the financial goals that I need to be saving for?

5. Do I know how much I should invest every month for each goal? How much I can actually invest for each of those goal?

6. Is the health of my family and myself insured? Is the insurance sufficient?

7. What are you doing to help your dependents understand how to manage money in case of any emergency?

What’s gap that no-one is filling?

• Building a comprehensive and personal time-based financial plan

• Importance of Financial Planning (Tax/Debt/Retirement/Investment planning)

• Educating about goal based planning (logical than emotional)

• Educating about Compounding and early start for Retirement planning

• Educating about Asset allocation and portfolio diversification

Client Skills-> Increase AUA / AUMClient Acquisition Skills, Advisory and Retention

• Serve well - Be Customer Centric: align to their goal as your own goal while advising them [complaints from collegues]

• Hold Financial Education Seminars, keep learning

• Work with corporations / Colleges educational institutions to target young and mature crowd

• Web presence (Social Media Blog, Article) / Good networking helps (MeetUps)