In an attempt to understand what is happening to the financial planning market and where it is heading in the near future, Pooja Chopra of Myiris.com managed to get an exclusive interview with Bhavesh A. Vora, Chief Executive Officer, SERNET Financial Services (P). He is AFP certified. Here are some excerpts from the interview.
Can you tell us about SERNET Financial Services and its mission & services?
SERNET services more than 1000 families, made up of retail individuals, HNIs, NRIs, trusts and even corporates. These communities are served with latest systems and dedicated team efforts. It provides a perfect match of ambition and experience tempered with professional approach for maximum contentment.
At SERNET, you will find a variety of concentrated routes of investment, insurance and finance avenues for all your financial requirements with complete advisory and monitoring efforts all under one umbrella. We are committed to high service standards, to provide the best information available, to offer the ethical advice and last but not the least, to provide technology that enables us to attend your financial planning requirements.
What services do you offer? How long have you been advising clients?
We offer financial planning, wealth management and risk management services. It`s a family practice of last 22 years that got corporate recognition in 2003.
Briefly explain the investment / selling scenario of the financial products you offer in current market?
It`s always a need-based approach that we follow in any market condition.
How important is an independent financial advisor (IFA) in the total sales process?
IFA is the ultimate face of respective principal to his/her client. Further an IFA carries client`s trust and money at principal`s disposal collectively. It`s as easy or complex that one can understand.
Have you heard of FAAIDA? What role do you think FAAIDA can play with you to improve the IFA performance?
Yes, I have heard of it, recently though, when there was a loud voice movement for direct distribution of mutual funds. It`s basically IFA standard of practice and unity that I think can be worked upon collectively.
In today`s fluctuating market conditions, what?s been the most common reaction from your clients?
Uncertain: What do we do now? This is the most common reaction we`ve seen in our clients.
How many clients do you currently manage? How many clients do you think an IFA can handle comfortably?
We manage more than 1000 retail individuals, 50 high net worth individuals, 5 corporates and a couple of trust portfolios. It depends on independent financial advisor`s ability, capability & technology adoption.
What aspect of your work gives you the most satisfaction?
Traditional Indian financial wisdom mixed with my own personal involvement in my team efforts gives me immense satisfaction.