Resource id #5Resource id #5 Advisor Interview
05 March, 2024 16:21 IST

An IFA plays crucial role in the total sales process

Source: IRIS (10 July 2009)

An IFA plays crucial role in the total sales process
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Yogesh Sharma, Head, YS Capital is a computer systems engineer from Arizona State University, USA. He is also IRDA (Insurance Regulatory and Development Authority) certified Life Insurance Consultant and AMFI (Association of Mutual Funds in India) certified Mutual fund Distributor. We managed to get an exclusive interview with Sharma. Here are some excerpts from the interview.

Can you tell us about YS Capital and its mission & services?
Y S Computers was established in the year 1994 to offer services in the field of information technology. In the year 2001, the company diversified into the field of financial advisory services and YS Capital came into existence. Looking at the changing economic scenario of that time, the company felt that the financial services sector also deserved the same level of customer service and knowledge base to guide the customers in choosing the right product for their specific needs as was required in information technology.

This was found to be very much missing in the financial advisory sector with not many financial advisors who could offer well informed and personalized structured investment solutions. Since 1994, we have strived our level best to offer exemplary service to all our clients along with maintaining an honest and transparent approach in all our dealings. We are continuing with the same level of service in the field of life insurance, mutual funds and realty products that we are currently offering.

How important is an independent financial advisor (IFA) in the total sales process?
It is the most crucial role as the client is bestowing his complete trust of his funds in the hands of the IFA`s decision. This is one responsibility we all IFAs should take very seriously. The fact that the client has come to an IFA instead of the many larger retail options is that he / she assumes they will get a more personalized, client specific and better solution for his investment needs.

What role do you think Financial Advisors Association of India (FAAIDA) can play with you to improve the IFA performance?
> Be the platform for all IFAs to interact with each other.
> Inform IFAs of the many changes that are taking place in the financial world with regards to products, solutions and upgrades so that the IFAs can keep themselves abreast of all the latest happenings and upgrade their skills.
> Represent the IFA community at various forms such as AMFI, SEBI and others.

In today`s fluctuating market conditions, what`s been the most common reaction from your clients?
Fear of what is happening to their investments; but once they have someone with whom they can share this fear and that someone can explain to them as to what is exactly happening to their investments, this fear changes to one of confidence and knowledge and which makes the clients then take correct steps to safeguard and enhance their Investments.

On a personal note, any personalities or books that have influenced you the most?
Head of one of the largest financial companies in the country, who in the year 2001 exposed me to the world of insurance and mutual funds as a future service industry of our country, at a time when there was hardly any qualified professionals in these sectors to offer their services as IFAs.

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