20th January 2016
Mr. Hitesh B Gatiwala
Surat
Mr. Hitesh Gatiwala is the man behind Krishna Investments. He has over 11 years of experience in the financial services industry. He is known for his deep understanding of the distribution practice and its challenges. He believes in Honesty, Giving Right Advice and Quality Service. He believes in 5C's i.e, Character, Commitment, Conviction, Courtesy and Courage.
ES: Please introduce yourself and also share your vision and mission or goals in life.
Hitesh: I started Advisory business in the year 2005 and at present I have more than 400 satisfied clients. We help clients in achieving their financial goals with effective and smart investment planning. We are a Wealth Manager and Mutual Fund & Insurance consultant recognized by the BSE (Bombay Stock Exchange), AMFI (Association of Mutual Fund of India) & IRDA (Insurance regulatory & Development Authority of India). We offer comprehensive financial advisory services. We advise insurance, tax, and mutual fund investment options to clients, for meeting their long-term and short-term goals. Our core purpose is to provide fast track financial solutions & thereby enable people enjoy a secured, happy and peaceful retirement life.
Vision: “To help clients achieve their Financial goals with effective and smart investment planning.”
Mission: Our core purpose is to provide fast track financial solutions & thereby enable people enjoy a secured, happy, peaceful retirement life.
ES: What inspired you to choose the career of a financial advisor / distributor?
Hitesh: Freedom of Time, Renewal Income, Noble Profession, and the proud feeling of making someone's life better, are the contributors to my decision of choosing the Advisory business.
ES: Setting the financial advisory business takes some time. How did you handle the challenges on the financial front in the initial period of the business?
Hitesh: Hardwork, meeting more people, focus on SIP, after sales services, right advice, and references from existing clients, helped us in overcoming the initial challenges.
ES: What made you join NJ as an NJ Partner?
Hitesh: I joined NJ because of a number of factors like strong ethics that NJ is based on, unmatched technological platform, training and development being provided on a regular basis, knowledge upgradation initiatives, etc.
ES: Do you promote the idea of savings through MF SIP in your clients?
Hitesh: Yes, I do promote MF SIPs for regular saving and investment.
ES: Client communications is an integral part of your business. Please share any best practices / services related to communications adopted by you.
Hitesh: We prefer to share one ideal article everyday on financial industry through social media with our clients. This helps us keeping in touch with our clients always as well as educating them on various aspects of the industry.
ES: How much importance do you give to Insurance in your advisory practice?
Hitesh: We believe Insurance is very Important. I think its a basic need or a foundation stone of one's life and this stone must be strong. We advise our clients to be adequately covered against risks through insurance.
ES: How do you educate and convince your clients for mutual funds, especially the first time investors?
Hitesh: Generally I need at least an hour for explaining why should one invest in a mutual fund. I explain my clients the impact of inflation on our saving and how if we do not invest our saving, inflation will erode it. How various goals in life can be achieved through Mutual Fund investments. I show a comparison between the returns generated by Equity Mutual Funds and the returns of other asset classes and lastly I focus on financial planning.
ES:Your experience with NJ's technology initiatives in terms of various Desks for Clients & Partners ?
Hitesh: NJ's Tech Initiatives are Excellent. The Desks are very user friendly both for clients as well as for me.
ES: How would you evaluate NJ's technology initiatives such as various On-line Desks & Mobile Solutions ?
Hitesh: I would give 10 out of 10 to the Online Desks, I really like the ideas of the people behind these Desks, who have made them so extensive yet simple to use and also the frequency of updating them.
ES: What advantages do you feel NJ E-Wealth offers to both Clients and Partners?
Hitesh: E wealth is a boon for me and my clients. It offers a number of benefits such as it enables paperless transactions, enables effective use of resources, saves time, energy and money and has us helped in eliminating geographical barriers. With E wealth Account I can now conduct business overseas as well.
ES: Please share with us any standards / best practices related to client segmentation that you have adopted. If yes, also share any differentiation made in service offerings to these client segments.
Hitesh: I focus on common middle class business people and senior citizens. The reason behind this is they generally need a second income. For the second income, they invest in various options. I make them invest in balanced funds dividend payout option and I share the history as well as advantages of balanced funds compared with the other option that they might use. And this approach helps me in attracting more people from the same segments.
ES:Can you share any incident /event which has had a lasting impact on you or your business as a financial advisor /distributor?
Hitesh: Generally I advise my clients to invest their money for a specific goal or target. I feel very happy when clients achieve their goals like their child's marriage, renovation of their house, purchase of a new house, child's education, meeting unforeseen events like floods. So whenever a client achieve his/her goals, I feel proud of being a part of this noble business.
ES: How do you assess /see the future of financial advisory business in India? How can we as Partners be ready / prepared to make the most of it?
Hitesh: I think this industry and business has a huge potential in terms of wealth or numbers. People did not invest in equity and preferred debt. But nowadays awareness among common people is increasing. And because of the new measures and policies announced by the government, debt no longer remains too lucrative and people are now moving towards equity. So there are no doubts about the bright future of this business. And I am prepared to take advantage of the same by using technology, huge product basket, and my experience in the industry.
ES: How much importance do you give to Asset Allocation & Risk Profiling while offering solutions to clients needs?
Hitesh: I believe Asset Allocation and Risk Profiling are the most important aspects of financial planning. I think an investor must have and follow a specific asset allocation in accordance with his risk appetite for both physical and financial investments. Proper weight must be assigned to liquid assets and long term assets.
ES: Winning the trust of a Client is not an easy task. How do you think you can win the trust of your Clients?
Hitesh: Yes, Winning the trust of clients is not an easy job but right advice with high integrity, punctuality and quality service has helped me win clients' trust.
ES: What suggestion / advice you would like to give to new Partners who have yet not established themselves in the business?
Hitesh: Develop a goal, and focus on that goal, give right advice as per client needs and provide quality service always.
ES: Can you please share your short term and long term targets for your business.
Hitesh: For short term, I am targeting 3 carnival south Africa tickets in this financial year. And my long term goal is to reach Rs 200cr Aum and Rs 1.5cr Live SIP in 5 years.