Resource id #4Resource id #4 Advisor Interview
01 December, 2023 09:52 IST

Clients are a bit cautious but optimistic

Source: IRIS (10 July 2009)

Clients are a bit cautious but optimistic
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Balvir Chawla, founder of Life Lite, is a Certified Financial Planner (CFP). He is a post graduate in management with specialization in finance. He has also completed a post graduate diploma course in Investment and Financial Analysis.

Life - Lite is the brainchild of Balvir Chawla for providing professional services in financial planning, life insurance planning and investment planning. Balvir Chawla has also qualified for MDRT - 2006 which is a premier association of financial professionals all over the world.

What led you to choose financial planning as a career?
I started my career as an insurance agent with Life Insurance Corporation of India (LIC) in 2002. However, when I met customers, I saw that they were keen to be associated with someone who could advise them in all areas of investments and there were not many people offering it. They were not worried about rebates or charges but wanted an honest and transparent opinion on all products. I did my research on the courses available and I found out CFP as the best solution.

What services do you offer? How long have you been advising clients?
We are offering complete financial planning solutions to our clients which include insurance, mutual funds, stocks, real estate and estate planning. We have been advising clients since 2002.

Briefly explain the investment / selling scenario of the financial products you offer in current market?
We have been advocating the SIP route to our clients for entry in the stock markets. We are more focused on maintaining the asset allocation we have decided for them and are ensuring that the allocation remains as decided.

How important is an independent financial advisor (IFA) in the total sales process?
I believe the IFA is the most critical part in the sales process. He is the one who can create a long-term relationship with the client and advise correctly without any targets to achieve.

Have you heard of FAAIDA? What role do you think FAAIDA can play with you to improve the IFA performance?
FAAIDA can be the connector between IFA and the regulatory bodies. FAAIDA can become the voice of the IFA who is not aware of the changes happening and has no common platform to make his voice heard. Also it becomes a good platform where IFAs` can interact amongst themselves and exchange views.

In today`s fluctuating market conditions, what`s been the most common reaction from your clients?
Just as everyone our clients too are a bit cautious but they are optimistic. Since they have planned properly, they are aware of the benefits they will receive if invest in these times.

How many clients do you currently manage? How many clients do you think an IFA can handle comfortably?
We are managing around 400 clients. If the IFA is tech savvy and operates with his staff and office, I think there is no limit for him. However, a base of around 500 good customers is a comfortable level.

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