The Insane Wealth-Tech Recruitment Model


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.

March 4, 2022 | 2 Minute Read
I know you know this but even then, I thought of writing this line: Within the FinTech space, our industry comes under the category of Wealth-Tech.
In this Nano, I am sharing an interesting (but insane) recruitment model that most VC backed Wealth-Techs are adopting.
- Hire very low-cost sales force in different places across the country.
- Call them Wealth Managers.
- Get them to sign up their friends, family and network of people.
- Then when their leads dry up, Fire (dump) them in droves.
- Repeat the Cycle.
Do you think this is your competition?
We had a gentleman interview with us in late 2019. This person was a senior executive with an asset manager and had joined this Wealth-Tech a year or so back believing its cock and bull story. Within a year, he was looking to run away from this caustic environment (which gets glorified in the media for raising so much money) because his blood pressure was constantly going up. He had to fire 100+ people in 1 day and this was pre-COVID. The focus there was simply on numbers and more numbers at all costs.
Thankfully, you don’t need to run this race and more importantly you can build an amazing firm by exactly not following the above.
Like I wrote in Tuesday’s post “Emma”, you indeed have a great future. The only 5 words that I would add are – “provided you prepare for it”.
Future Proof your business today!
Similar Post
Nano Learning
Money and Value
Mr. Gokhale, a wise MFD from Mumbai, said, “If you understand ‘value’ and value ‘value’, money will come.” But do people really understand value? Do you? I see a lo ....Read More
15 March, 2024 | 3 Minute Read
Nano Learning
Are you getting your Expensive Questions answered?
I truly consider asking meaningful questions as a Key Skill that all of us need to develop. However, I see a lot of focus and sometimes obsession on asking only technical question ....Read More
3 July, 2020 | 1 Minute Read
Nano Learning
The 2 Most Important Days of your Life
I am sure most of you can guess the first one. The Day you were Born. The Second is the Day you figure out WHY you were Born? Have you found your Second Day yet? I found my s ....Read More
1 January, 2021 | 2 Minute Read
Nano Learning
Expert in the Sale versus Traditional Salesperson
In the world of sales, there is a distinct difference between an expert in the sale and a traditional salesperson. Understanding this difference is crucial for building lasting cli ....Read More
31 May, 2024 | 2 Minute Read
Nano Learning
The difference between Sachin Tendulkar and me
Most people make a mistake of confusing Knowledge with Skill. However, the 2 are vastly different and understanding this difference will get you to focus on building real Skills. L ....Read More
14 August, 2020 | 2 Minute Read
Nano Learning
Feedforward versus Feedback
Webster defines feedback as “the transmission of evaluative or corrective information about an action, event, or process to the original or controlling source.” There are a cou ....Read More
6 October, 2023 | 2 Minute Read
- 0
- 0
0 Comments