Mr. S.L Yadiyala
Yadiyala Financial Services
Q : Please introduce yourself and also share your vision and mission or goals in life.
Answer : I am S.L Yadiyala and I am 53 years old. I am a mechanical Engineer by training and I am an Industrialist for the last 26 years and a Financial Advisor for the last 27 years. Currently I own my own factory for Automobile Mechanical Parts where we manufacture parts for Export and my own Financial Services Firm “Yadiyala Financial Services”. I was working for a company back in 1992 during which time I had joined LIC to earn some additional income. And that began my journey across Financial Services. I have been a ARN Holder for the past 17 years and have been a proud partner of NJ Wealth since the last 15 years.
In these last 15 years, I have personally come to manage an AUM of Rs. 43 Crore with a SIP Book of Rs. 61 Lakhs. Despite all the ups and downs of the last 15 years, my aim always has been to ensure that all my clients have wealth created for them with adequate liquidity in their assets as well. By doing these tasks I ensure I can cover the maximum number of Families for Financial Well being.
Q : What inspired you to choose the career of a financial advisor / distributor?
Answer : My intention when joining LIC in 1992 was just to earn some additional Income. However after working for LIC and since being introduced to MF and Equity assets I have been an ardent proponent of Financial Literacy among the masses and educating them about concepts such as Inflation which affect their day to day lives and also damages their potential for wealth creation. Financial Literacy for all has been my calling and that is why I started working with NJ as NJ enabled me to educate my clients.
Q : Do you promote the idea of savings through MF SIP in your clients?
Answer : Absolutely. With Small amounts every month, my clients are able to see the potential of their money growing into a bigger corpus. Also with SIP there is the added benefit thats its an all season product and one does not need to bother themselves about the market conditions, political environment etc. You can set a time horizon and invest towards your financial goal. So I promote only savings through SIP of which I have been able to accrue a SIP book of Rs. 61 Lakhs.
Q : Client communications is an integral part of your business. Please share any best practices / services related to communications adopted by you.
Answer : I personally believe keeping in touch with my clients personally. However due to the recent Pandemic Lock-down adapting to new ways of communication has been a priority. Overall I use MCS as a very effective tool for reaching our to clients and use other form of Social Media to interact or communicate with clients. I have also found that What'sapp Status is a very effective tool to know which all of your clients are actually following my various updates.
Q : How much importance do you give to Insurance in your advisory practice?
Answer : I place very high importance for Insurance among my clients. Being an Insurance Advisor for the last 27 years, I have understood the protection cover that Insurance provides via the many clients who have benefited from taking Insurance from me. I personally believe everyone should have Life protection in the form of Term Plans which are not only affordable but also ensures that the ones we leave behind are well taken care of.
Q : How do you educate and convince your clients for mutual funds, especially the first time investors?
Answer : I make them understand about inflation. How they are affecting their day to day lives and how their savings wouldn't be enough to mitigate the effects of Inflation unless they invest in a asset class that beats the inflation benchmark. And then I show them how using Equity MF they are able to create a generous corpus for themselves and their families.
Q : Your experience with NJ's technology initiatives in terms of various Desks for Clients & Partners?
Answer : It has been a fantastic experience due to the various platforms and tools provided by NJ . Partner Desk has helped my business to grow and Client Management has been easier due to tools like Client Desk. Recent Initiatives have helped to overcome a lot of challenges during the lockdown. Client acquisition and Management has been made easier due to various technology Initiatives.
Q : What advantages do you feel NJ E-Wealth offers to both Clients and Partners?
Answer : The day NJ started EWA, I was one of the first partners from Bangalore to start converting my clients to EWA holders. Easily done Transactions and information availability is one of the key features I admire about. Plus the fact that my client can do any transaction anytime anywhere is a huge advantage to my customers.
Q : Self evaluation and assessment is something we all should do regularly. How do you assess your own self and/or your business? Are there any specific parameters you refer to?
Answer : Year on Year Business Growth, Business Goals for the year, Acquisition of clients, AUM Growth, SIP Book Increase and Income are just some of the factors by which I evaluate myself.
Q : How much importance do you give to Asset Allocation & Risk Profile while offering solutions to clients needs ?
Answer : Now I place high importance for Asset Allocation. Earlier most investments were coming into equity however managing client emotions due to volatility in the market had become a daunting task . However with MARS becoming so advanced now I am allocating my clients investments to MARS where Asset Allocation is taken care of. For Risk profiling I am still old fashioned and rely on using a questionnaire with my clients and assign a risk profile based on the questions they answer. I have found it to be the most convenient way of Risk Profiling.
Q : Winning the trust of a Client is not an easy task. How do you think you can win the trust of Clients?
Answer : Timely Service, Keeping Continuous Contact, Giving updates in regular intervals of time and no misinformation or mis-selling. Also no hollow commitments. I also don't pitch returns or performance to my clients. When under my advisory it is all about long term wealth creation.
Q : What suggestion / advice you would like to give to new Partners who have not yet established themselves into the business?
Answer : Being a Wealth creator is one of the most noble professions in the world. Educate your clients about the various pitfalls towards financial growth like Inflation. Keep on Acquiring new clients as educating is a never ending job in our line of work and make sure you always reach out to your existing clients for referrals as that is sure way to enhance your client base.
Q : Can you please share your short term and long term targets for your business.
Answer : Short Term Goals is to reach 1 Crore SIP book by 2022.
Long Term Goal is to reach 150 Cr AUM by 2025.
Q : Have you acquainted yourself with the current lock-down situation due to pandemic COVID-19? What are your experience? for business continuity its growth? Did you find it difficult?
Answer : As this event is completely unprecedented, it has been quite difficult to adjust in the initial days. However life goes on and Business must continue. I find that constant communication with my clients helped to put their mind at ease about their investments. Also addressing of clients by Industry Veterans kept the clients more confident and informed about whats going on and why they should remain invested.
Q : Share your thoughts on NJ Digital Talks? Whether you and your clients are benefited from it or not. Also, NJ Management has announced other initiative to help partners and clients, share your thoughts on it.
Answer : Any initiative NJ brings about has always been useful for both the client and the Partner. Question is how soon do we adopt the initiatives. Digitalks has made client addressing much more easier and Informative for the clients.