Meet Mr. VISHWAS DESHPANDE
Vishwas Deshpande, the founder of Vishwas Deshpande Advisory Services Private Limited., is doing a very impressive work in the Mumbai and adjoining regions. What makes his work stand out is his client centric approach which is even reflected in his own business targets. He is a person who holds a strong conviction in need based advisory and financial planning.
It gives us great pleasure in bringing the interview with Vishwasji to our friends...
What was the inspiration and motivation behind becoming a financial advisor / distributor?
I love to help people. I love being a financial planner and if you like helping others significantly enhance their lives, you will too. I have seen and also experienced myself that in today’s world everyone is doing product base selling. But what is important is to do need base planning, understanding client need and delivering him the same.
Setting up the financial distribution /advisory business requires patience and hard work. What kind of initial challenges did you face in your financial advisory/distribution career and how did you overcome them?
My 15 years’ experience tells me that skills are far more important than any other. You’ll learn the most valuable lessons over the years. Most challenging thing was to make a client understand as Client’s wants are unlimited. Sometimes, they don’t even know, and you have to be able to help them discover it.
As a Partner, you have been very open in helping other Partners as well to extend of even going on their Client meets with them. What is the driving force behind such a passion to help others?
It is said that "knowledge shared is knowledge multiplied".
Please tell us your approach /method /process to selecting mutual fund schemes for your clients for investment.
We blindly follow NJ Performance Report to select Mutual fund schemes. It is the best.
You have your own team of employees. Please tell us your approach in managing and motivating your employees to deliver more?
We work as a Team, we work as family. When we do so, the dedication which each individual shows towards their work contributes to our Company’s success. . Secondly Employee Appreciation is must. When an employee knows they are sincerely cared for, there’s more trust; there’s more hard work; and there’s better ability to focus on the company’s growth.
What is the image of the ideal boss that you aspire to become?
For me leader must learn to praise others, to share the credit, and to give credit where it is due. If you try to take credit for everything, you will not lead; you only frustrate those under you. I aspire to be a boss who Value the input and ideas of others and give them the credit.
With a strong team, how do you target and plan client acquisition? What are the activities that you focus on?
We do a Seminar where we educate clients about markets, upcoming policies and product. Client referral is the best way of client acquisition.
How do you ensure that you and your team is skilled for their role as a financial advisors /distributors?
We do an activity on weekly basis called "MASTERMIND" where we share about the challenges each individual faced in work, what efforts he took to resolve the same. We also read the column on NJ website E-Saathi which helps me and my team to stay updated.
With a large clientèle and a team, what type of standard client management practices have you adopted?
Categories your client as per their net worth. Distribute them to each RM system. Secondly respond promptly to clients.
Please share any business targets that you have set in medium (say 3 years) and long term (say 5 or more years).
Currently having AUM of 100 crores which I want to increase to 300 Cr. in 3 years and obviously 500 Cr. in 5 years.
What suggestion / advice you would like to give to new Partners who have yet not established themselves in the business?
Meet more and more clients. Becoming a successful financial planner requires work – and it never stops. You constantly have to educate yourself and learn. Above all, sharpen your listening skills. Work hard at understanding what your clients really need and want.
What do you consider your best achievement thus far?
A satisfied / happy client tells one friend, but unhappy tells everyone. My need based client advising made my client yield more and make them satisfied which increased the number of clients through reference they gave. This ultimately helped me achieve my goal of making 100 Cr. AUM.
{s}
[[script type="text/javascript"]]
$(document).ready(function(){
new DiscussionBoard("divDiscussionBoard", "311", "http://www.njwebnest.in/esaathi/index.php/discussion").load();
});
[[/script]]
{/s}