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Roopa Venkatakrishnan discusses an array of topics from how she segments her clients, to how she engages with them, how she deals with younger clients who have a wider access to financial data and finally offers some sound advice to new IFAs just starting out in the business.

She begins by stating that she has no entry level barrier in terms of portfolio size or SIP. Her clients are segmented into three baskets. First, her old clients who have been with her for 15-16 years and have grown to become HNIs over time who have the strongest relationship based on trust and comfort. The next consists of her clients who have been with her for 7-8 years who are on their way to becoming HNIs. Lastly,her newer clients consisting largely of lower net-worth individuals who she hopes to empower to begin financial planning through awareness and education.

Moving on to client engagement, she stresses the importance of being clear on what you can and cannot bring to client in that she is “here to create wealth to sustain [the client’s] purchasing power, not to simply promise high returns or the best funds” A client can’t visualize more than 5 years which is where the advisor plays a critical role - in walking through a journey with the client that lasts well beyond 5 years

She offers some sound advice for new IFAs just starting out –

1.      Use data, crunch numbers to build your conviction. Don’t wait for a fund house or friend to forward youdata, seek it out yourself, analyse it and understand it - that's how you build your own conviction, which you then transmit to your clients.

2.      Always prepare ahead of client meetings regardless of how old the relationship is – the last thing you want isto go in with raw data because that’s something even a client has access to. 

3.      Always listen to what your client wants, what their goals and needs are. Become a good listener.