Mr. Arun Taula, CFP.
Taula Investments, Thane (Mumbai)
Mr. Arun Taula a science graduate and a Certified Financial Planner comes from a family background where helping someone for Investment is taken as a passion and not just a business. However arun took a diff. path and decided to become a Medical Representative after completing his graduation. Arun's father(now a senior citizen) had a postal agency in his working days and arun used to help his father in his work. Arun has got an understanding on the subject of investments and related instruments since his childhood because he brought up in such an atmosphere. After working as Medical Representative for 3 Years with pharmaceutical company, he decided to pursue his career in the financial advisory field and started his investment advisory business. Today Arun has a rich experience of more than 24 Years in this field and have 1500+ satisfied customers. Arun carries an very interesting risk taking attitude and it can be a learning for everyone that first he himself try with the product(s) that he recommends to his clients.
Q. Why do you think Financial Planning is important for clients?
Answer: Financial Planning Consist of 3 Things:
1 Protection of Wealth
2 Creation of Wealth
3 Distribution of Wealth
Protection of Wealth means in our term Sampoorna Suraksha proper Insurance planning
Creations of Wealth means Mutual Funds, PMS, Bonds and other avenues to achieve the goals that clients have. Distribution of Wealth means Estate Planning or Will Writing.
In layman terms Financial planning is a road map to achieve financial goals, in absence of Income earners, it becomes very difficult to fulfill the goals for the family, by doing financial planning clients will be able to understand where they want to reach and where they are standing today.
So, it is a very important step for the clients to understand properly and act accordingly.
Q. How important is insurance planning?
Answer: Insurance planning is the basis of FINANCIAL planning. Insurance planning depends on the age and health of the client, so it is the basic step in FINANCIAL planning, without doing insurance planning if any uncertainty comes then the other goals go for a toss.
In our view we always believe Insurance is very important to clients before going for any investment and in Insurance go for Sampoorna Suraksha, clients easily understand the concept and importance of both.
Q. How do you identify cross-selling and upselling opportunities?
Answer: As we are having more than 2000+ clients in our basket, once in a year we review the portfolio which we make through Family need (Goal Mapping) and try to incorporate what is left, such as Retirement, Child Education, SIP Top-up, Insurance such as Car, PA, Health n Term Top-up, LAS, etc. so, there is no need to find new clients we can cross sell and upsell in existing client data only.
What we recommend, everyone should focus on acquiring more and more clients in 1st 5 to 7 Years of your career so that once you make 1000+ Families, then you can find opportunities inside your basket only
Q. Do you see a visible difference in the client's attitude when offering multiple products and does it help to build trust & loyalty among clients?
Answer: Yes, definitely we can see the clear difference while offering multiple products, because if you will not provide all financial products in your basket you may lose a good client as in the current scenario we need to work like as a Financial Mall for our clients so that clients can shop all the products at one place so they do not have to go here and there for different products.
Q. How has your business benefited by selling multiple products like Insurance, MF, Bonds, PMS, Loans, etc.
Answer: My Father started with Post Office investments initially in 1988 and I joined Taula Investments and took LIC agency, at the age of 18 then in 1996 New India Assurance agency and finally life took an upward graph when my wife JYOTHI TAULA joined this business and I passed the AMFI exam in 2003 and become NJ Distributor in 2005 and to the same clients we had provided life Insurance, Mutual Fund, Bonds, Health Insurance, etc. by doing this with the same set of clients our overall business took an upward direction. Now We are also a CIA with NJ since NJ Started Insurance Vertical for their Distributors.
Our company's vision is, you should buy first before offering to clients so that it can't be any type of misguidance given to clients. We also share our own portfolio with clients so that they get confidence in us.
Q. Can you share any client case wherein offering multiple-choice has helped in generating additional business?
Answer: First, we were offering POST OFFICE products to this client, then we gave him LIFE INSURANCE policies, then MUTUAL FUND sips started, gradually his son and daughter grew up and started working so we gave them total FINANCIAL planning and made them secure by selling SAMPOORNA SURAKSHA theme and GOAL ORIENTED investments in MUTUAL FUND. Today this family's complete investment is with us and the client is also very much satisfied and are giving continuous references.
One of my college classmate started investment with me, after seeing our service and dedication he asked us to give FINANCIAL PLANNING presentation in his organization several times. Whenever new person joins his organization, he makes sure that even a new person should get benefit of investment like him. Today because of this satisfied client recommendations I have more than 100+ new references.
So even one satisfied customer can be your brand ambassador.
7. Your advice to partners to adopt multiple product offerings to clients
Answer: Simple Advice, today clients want different types of products due to more transparency and visibility available in the market So we need to satisfy client needs. With support from NJ today we are able to offer all types of products.
Kindly use all the facilities provided by NJ such as AIS, Family Needs, Non-NJ Portfolio Review Utility, CRM, and many more so that all our back-office support will be taken care of by NJ and we can concentrate on procuring new clients.