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5 Things Financial Planners Do To Stay on Top

A financial advisor can never stop learning.

Updated:December 18, 2019, 11:27 PM IST
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5 Things Financial Planners Do To Stay on Top
A financial advisor can never stop learning.

A good financial manager needs to do a lot more than just manage money. He needs to manage relationships. Advisors need to plan ahead and ensure that they offer more than just a product to their clients. There’s a lot of competition out there and the worst thing an advisor can do today is accept their status quo. That’s a definite recipe for disaster. Here, we have two professionals, Mr Sanjay and Mr. Ashwin from Bajaj Allianz Life Insurance who tell us what does it take to stay on top of the financial advisory game:

  1. Invest in Your Professional Growth

A financial advisor can never stop learning. Indian financial markets are always evolving, new products are always getting launched and regulations are added every few months. Attend seminars and workshops on regulations, attend conferences for sales and marketing strategies, and brand building to stay on top of the game. Invest in online courses that make you a better professional if you can. Get regular certifications.

  1. Target the Next Generation

India is a young country. There are a lot of people who are entering/just entered the work force and are clueless about what to do with their finances. It’s a great opportunity to build trust, help them with their first financial steps and guide them through the financial jungle. If you are able to build trust with this generation, then it is unlikely that they will go to someone else for their financial needs.

  1. Build a Niche Network

Every individual has their own characteristics that appeal to a certain audience.  You cannot be everything to everyone. Find your niche, develop it, grow it and protect it. When you build your niche, you become aware of all the challenges they face, and you get good at providing solutions. Your client base begins to view you as an expert. They begin to refer you to their circle. This niche could be anything: Female entrepreneurs, people working in the IT sector, working mothers, retired folk who want to invest their retirement corpus, doctors or anyone else. The trick is to be seen as an expert by these guys.

  1. Build Your Personal Brand Online

Today, everyone wants to know who you are. Prospective clients will check you out on social media like LinkedIn, Instagram and Facebook. You have to make sure that your social brand comes across as professionals. Build a good network online. Make sure you add your achievements and certifications and any updates on your LinkedIn profile. Try and speak at local community events. Ask people to endorse you online. You have to position yourself in a professional manner that makes people trust you.

  1. Distinguish Yourself from Your Competition

This is the next step in brand building. You have to build a narrative around yourself. What makes you different from your competition? Is it your personal experience, is it your educational background? This helps people identify with you and it helps you develop reasons on why people should trust you with their financial planning. Ensure that you are regular touch with your clients. You should get in touch with them just to update them about their investment portfolio. Not every call should be a sales call.


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