The Financial Care Industry

Amar Pandit , CFA , CFP

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.

September 30, 2022 | 1 Minute Read

Have you ever wondered about why our industry is called ‘financial services’?

I often have.

The next question then is, “What exactly is the service that the industry delivers?”

Basically, the service is delivering a product whether it be bank accounts, loans, insurance or investments.

Needless to say, the industry has been very creative in not only creating products but also in delivering them. But in the rush to deliver these products, the industry seems to have lost its essence and has become a financial products industry. Everything is about products, products and products.

It’s time to change this because the work that we do is way beyond products and even services.

There is a good reason for this. It’s the nature of the work we do. It’s transformative. Our work impacts the financial lives of people.

Thus, we are neither a financial products industry nor a financial services industry.

We are “the financial care industry”.

Repeat after me.

We are an important part of the Financial Care industry, and we deliver outstanding financial care (not only in words but in deeds as well).

I wholeheartedly believe in this.

Do you?