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25 September, 2022 14:36 IST
Advisor

`Take financial goals as a road map not as a journey`

Source: IRIS (01 February 2011)

`Take financial goals as a road map not as a journey`
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In an interview with Yogita Khatri of myiris.com, Nikhil Naik, managing director (MD), Naik Wealth says, ``Ultimately if you want to reap good returns as an investor then patience and discipline are the two most important attributes that one should possess.``

> Can you please tell us about `NaikWealth`? What services do you offer? How did you step up in advisory business?

We are one of the leading full service investments firm providing the entire gamut of financial services. Our firm was founded in 1989 by Ashok Naik, today we have offices in Goregaon, Malad, Kandivili and Thane. We provide a range of financial and advisory services including financial planning, mutual funds, postal schemes, and insurance - all of which are supported by powerful research teams. Our firm`s philosophy is entirely client centric, with a clear focus on providing long term value addition to clients, while maintaining the highest standard of excellence, ethics and professionalism. At Naikwealth we feel every client`s investment strategy should be unique to meet its required goals and hence we started with financial planning.

> How do you reach out to your clients? How do you win the confidence of your clients?

We reach out to our clients through referrals, Seminars and mostly due to word of mouth. The single most important factor for a long term relationship between us and our clients is trust.

> How realistic is it to expect Indian investors to pay for financial advice? What has been your experience at NaikWealth?

Our old clients all along felt that the advice we gave them is free though they used to get charged through entry load fees and other charges. But new clients have been more open towards fees. If investors value our advice and benefit from it, they will become more receptive and cooperative.

> What are the parameters that matter you most when selecting funds. What would you recommend investors on equity and debt side?

We follow a seven step process for choosing a fund:
1) Group brand name
2) Fund performance
3) Size of the fund (AUM and investor wise)
4) Volatility in performance
5) Fund managers tenure with the scheme
6) Consistency with the mandate of the scheme
7) Portfolio turnover ration/diversification.

> As the tax planning season has began, how would you recommend investors to go for the same? What kind of investment avenues one should look at for this fiscal?

Ideally one should not wait for the tax planning season to begin; they should start early to avoid making hasty decision of investing just to save tax. The main aim should be return maximization and not tax minimization. However we suggest investing in equity linked savings scheme (ELSS) for those willing to take risk and PPF and other conventional products for safe and secured returns.

> On a broader perspective, what financial resolutions should people take in the New Year 2011 according to you?

People should take their financial goals as a road map and not as a journey, because journey will have ups and downs and stoppages. There were economic hiccups due to many stories created in the past like real estate boom, tech boom and so on. People should stay away from such stories and stay on course.

> What`s the one thing that you would change in the financial services industry? If you had the power to make that happen?

Majority of the problems had come up in the industry due to limited vision; we need to look at our industry from broader perspective by treating people`s money seriously and look forward for long term relationship than short term.

> What three books related to personal finance would you recommend every person read and why?

i) Intelligent Investor by Benjamin Graham as I consider it as the bible of stock investing.

ii) Warren Buffet Speaks by as I consider him as the father of investing and also value his opinion.

iii) Investing Against The Tide by Anthony Bolton is an interesting read.

> Is there anything else you would like to share with our readers?

Ultimately if you want to reap good returns as an investor then patience and discipline are the two most important attributes that one should possess.

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