6 Myths that IFAs have about their value or how they need to demonstrate their value


Amar Pandit
A respected entrepreneur with 25+ years of Experience, Amar Pandit is the Founder of several companies that are making a Happy difference in the lives of people. He is currently the Founder of Happyness Factory, a world-class online investment & goal-based financial planning platform through which he aims to help every Indian family save and invest wisely. He is very passionate about spreading financial literacy and is the author of 4 bestselling books (+ 2 more to release in 2020), 8 Sketch Books, Board Game and 700 + columns.

January 27, 2020 | 2 Minute Read
As I had mentioned earlier this week, I am presenting the first Nano Learning for you.
It will only take 1 minute to read but you should take a few minutes or more to reflect and think about it. You might also want to revisit it sometime later so visit the blog again or take a print of this and keep it where you can see it.
6 Myths that IFAs have about their value or how they need to demonstrate their value:
MYTH 1:
We have to spend a lot of time with clients. Yes, spending time with clients is the single most important thing but here I am talking about just clocking in the hours to show value.
MYTH 2:
We have to show off our technical skills / domain knowledge. Thus we have to sound intelligent about markets, products and the world.
MYTH 3:
We have to generate Alpha or beat the benchmark … (beat Beta – written this to sound intelligent).
MYTH 4:
We have to choose the highest return product.
MYTH 5:
We have to do everything for the client – Be a ONE Stop Shop (Mutual Funds, Stocks, PMS, Real Estate, Insurance etc.). Even start distributing Airline Tickets and Currencies (I was being sarcastic here but yes, there are people who do it).
MYTH 6:
Finally we have to know everything that is going to happen in this world and then protect the client exactly before things go wrong and get them back in exactly before things start turning around. (One example is timing the market (equity/debt/gold/everything else) and some people claim to be world class market timers. Generally we don’t even know what will happen the very next minute but here we think we have to become financial astrologers.)
I am pretty sure that all of us have been guilty of at least a few of them at some point of time and many continue to vehemently believe in the above 6 myths.
Do take some time to reflect on this and I can assure you that these are nothing but Myths …
P.S. What do you think about these 6 myths? I would love to have your feedback on what you thought of these 6 myths. Feel free to share this with your friends or print it for further use.
Similar Post
Nano Learning
Just Start It
Many of you loved last’s Friday’s Nano “The Root Cause of your Stress”. I personally loved it too as I am doing some deep work in the space of helping each one of you reali ....Read More
13 November, 2020 | 2 Minute Read
Nano Learning
The NOT To Do List
We all have To Do Lists. They are such an important part of what we do daily. They are important but an even more important one or rather a Superpower is to have a NOT To Do List. ....Read More
27 August, 2021 | 2 Minute Read
Nano Learning
The Crying Babies
What did you make of this headline? See any connection? Ok. Let me spill the beans. The headline actually is a metaphor to explain a powerful concept. Let me ask you this qu ....Read More
25 November, 2022 | 2 Minute Read
Nano Learning
Design and Creativity
I am sharing some powerful quotes on design and creativity in this Nano. As always, reflect on these. “Good design is actually a lot harder to notice than poor design, in part ....Read More
17 December, 2021 | 2 Minute Read
- 0
- 0
0 Comments