CFP meet

Bengaluru
15/05/2016
Organised by Shri.Keyur Shah

Presented By Dr. L.Ravindran, Ph.D, CFM CM,

Founder MD & CEO, Wealthmax Enterprises Management Private Limited

Profile: Dr.L.Ravindran, Ph.d, CFP CM

Total experience 30 years

Prior to Wealthmax: Held 18 yrs of leadership positions in General Mgmt., Strategic
Sales & Marketing , in manufacturing and Financial Services Industries
Work experience in diverse Companies like IL&FS, Allianz, Zurich Financial ,
various NBFCs , GE Alstom, etc
MD, Wealthmax & Director in few other companies
Mentor at CIIE ( Centre for Innovation, Incubation, Entrepreneurship at IIM,
Ahmedabad)
Doctorate in pension funds management
P.G. in Mgmt., ICWA, Insurance Mgmt, CFP CM
Alumnus: St. Xaviers College, Kolkata & IIM-Ahmedabad
Board member MDRT-India (08-09)
Regular columnist in dailies, magazines
Represented our country in various international forums
Company and contributions : award winning, professional, ethical , committed, etc
Societal commitments:
Elected committee member Bangalore chamber of Industry & commerce;
VP- IIMAAA;
VP- COFP;
Honorary Secretary: Federation of HSR Layout Residents Welfare Associations
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Your wealth, managed our way

Motivation to do CFP
Pre qualification
Quest for knowledge

Post qualification:
Higher level of acceptance in the peer group
Customers : Ethical, capable, confident practioner
Deeper insight into every aspect of financial practice

Practice requirement, post qualification:

Updating oneself regularly, Develop higher order
skills , keep writing blogs, contribute to news flows,
articles, etc

Your wealth, managed our way

Visualisation

Your wealth, managed our way

Benefits of doing CFP with Keyur bhai

Nothing depends on luck, everything depends on work, even luck has to work

Accessible most times

Helps solves doubts to your problem

He gives you a realistic assessment as to where you stand

Special concentration when you are nearing your examination

He does not deviate from basic principles and is focussed

He is very clear , does not mislead you and is non-committal on the exam paper;

Problems in the CD are imaginative, extends beyond examination, creates

pragmatic thinking;

Makes you work hard and enjoys success of his students

Follow the Guru, see the results.

Your wealth, managed our way

Enjoy the success

Your wealth, managed our way

Cracking the examination

Follow the guru:

Drawing timelines to understand a

problem is vital which Keyur bhai insists.

In an exam , drawing the timeline and

visualising the problem will consume 75%
of the time, while the resultant answer will
appear once you key the data on the
calculator in 120 seconds.

How to do it ?

Follow the directions of Keyur bhai

Be regular at work

For even a complicated question, you shall

spend 12 minutes in understanding the
issue on hand and drawing the timeline
and within the next 2 minutes, lo behold ,
you have an answer which is matching/
closer to one of the 4 options.

When in doubt, call Keyur bhai immdtly

Keep it simple

Regular practice of goal corpus,

retirement, vacation, insurance workings

Moral of the story : the 5 step ( MAGICAL)

process defined by keyur bhai will help
you significantly.

Reserved for later on during the day: hear

it from the guru himself

Benefits of CFP in professional life

Higher respectability

Improved brand image and positioning of yourself

Follow code of ethics seriously

You become more accurate and precise

Please keep improving your knowledge

Improved number crunching abilities

Walk the talk

Halo effect

You are your own competitor

Your wealth, managed our way

Few anecdotes

No1: Story of the faithful :

Bitter truth of life: nature of this material world

No end to expectations
Moment you go wrong, they start pointing your mistakes
All good of the past is forgotten
Any small mistake is magnified

Story no 2: Management lesson from Sholay ( Gabbar Singh)

Jo Darr gaya samjho mar gaya (courage and enterprise imp for successful foundation)
Kitne admi the? ( imp to know competition, size, etc)
Are yo Sambha, kitna inaam rakhe hai Sarkar hum par ? ( know your mkt value,
promoting ines own brand is vital) and to be reiterated always
Goli 6 aur aadmi 3 (perform or perish)

Le ab goli kha ( orgn int matters, take tough decisions)

Yeh ramgarh waale apni betiyon ko kaunsi chakki ka aata khilate hai re
(understand value propositions, need for markt reserach)
Yeh haath mujhe dedey Thakur (eliminate threats to the markets)

Your wealth, managed our way

Client acquisition steps to reach

100 crs AUM

Get regn with various regulators for products

Focus on solution/s than products
Value every business at initial stage
Wholesale / Retail / micro-retail
Build steady stream of clients , service them well
Your time : is to be compensated as fees: do not
hesitate
Take support of your competitors, collaborate with
them
Dont bug anybody repeatedly beyond 3 follow ups
Show respect , maturity , professionalism
Under-promise vs over-delivery
Take mistakes on your stride. Dont blame market /
economy / support staff. Learn from mistakes
Good days and bad days : take it in your stride
First 1001 days crucial : get ready, success is yours
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Your wealth, managed our way

Setting up successful fee based

practice

Retail : focused on growth oriented individuals

Fee based, agreement with clear cut
deliverables on both sides.
Charge for your services without hesitation
High on service orientation, low on false
promises
No passbacks, no freebies: loyalty is difficult to
buy ( how long can freebies last)
Single door policy : manage only what is
manageable
Do not do front running: racing ahead of
customers interest
Blind calling / telemarketing : a strict no

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Your wealth, managed our way

Setting up a successful fee based

services

Maintain high ethics

Respect laws of the land
Maintain strict code of conduct with employees
Respect systems and processes
Have a combined mix of assets
Maintain record of discussions
Ratio of sales: service
Categorisation of clients : low/ high value
Last mile connectivity : choose between online /
offline
Non value / non core functions to be outsourced
Smartphone : powerful transaction engine
between buyer and seller

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Your wealth, managed our way

Successful fee based business

Cost structures that you have built will no longer hold,

reduce overheads
Entry margins getting stiffer, but still low, margins wafer
thin
Dont depend on your manufacturer for your customers
data/ information
Be medium term focused: neither long nor short
Talk reasonable numbers : for growth / return
Dont follow the crowd: have your mind
Large and unhappy customers will leave you anyway
Cut off supplies when your fee is unpaid for 2 quarters
Have flexible office staff
To build a great franchise: you should be known as the
best in something : retirement/ wedding planner
Save for a rainy day
Do not overstaff
Focus on empathy, branding, quality services, loyalty
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Your wealth, managed our way

My coordinates

Dr.L.Ravindran, Ph.D, CFP CM,

E-mail : L.RAVINDRAN@WEALTHMAXINDIA.COM

Cell: +91-98453-94608

THANK YOU

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Your wealth, managed our way