19 September 2016
Mr. Devang Shah, Vadodara
Mr. Devang shah started his career in Financial Services Iindustry in the year 1984 as a Part time Business as an – as an LIC Agent. He had worked with Link Pharma Chem Ltd. for 16 Years as aas a Managerial in Accounts & Taxation. He left the job in the year 2000 and Wwith my his Hard work, Passion and dDetermination, started his own business of Insurance and Investment left the job in the year 2000 and. aAt present, Mr. Shah is serving the same company as being a part of BoD as an Independent Director. - running a successful advisory business.
Team e-Saathi wishes him a very best luck for his business and wish all luck to his clients that they achieve financial nirvana in their lives under the guidance and advice of this team.
ES: Please introduce yourself and also share your vision and mission or goals in life.
Devang:I got associated with NJ India Invest Pvt. Ltd. in the year 2004. Along with Family Protection Planning, I also started advising for Wealth Creation with the Support of NjJ. With thethe Current AUM of 25Cr. and SIP Input value of 19 Lacs P.Mpm, I am Aaiming to reach theat an AUM of Rs. 200 Crores by 2020.
Currently I am serving more than 300+ customer bases.
ES: What inspired you to choose the career of a financial advisor / distributor?
Devang: I feel there is ample of Opportunity in this developing Market. Everyone has money but do not have enough time to manage it. People just understand in spending money inon the things which are not required. When there is such occasion arriveunexpected circumstances arrive, they may face some liquidity problems, so on theis basis of this, I take an opportunity to guide them properly with respect to their Ffinancial Goals, investments required to achieve these goals and to avoid unnecessary expenses. With the Hhelp of the Platform provided by NJ, it is easy to convince the Cclient and make proper Financial Planning for them.
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?
Devang: Started with Mutual Fund advising in the year 2004 when the market was in a bull phase. It was the time of NFO's. With my little knowledge, I started selling NFO in Mutual Fund. Till the time market was in a good phase it was not much morevery difficult for me. in advising bBut in the year 2008, as the market got crashed and wheren no one had given a thought to it., Iit became difficult for me in advising MF to Clients. Acquiring Pproper knowledge in this business is more important, where NJ played a major role by giving updates & trainings. After the year 2008Gradually, I could understand the technicalities of the product and that there should bethe importance of proper asset allocation of our clients.
"A Rome was not build in a Day"
ES:What made you to join NJ as NJa Partner ?
Devang: The technology platform whatthat NJ is providing is excellent. NJ E- Wealth has made the Mutual Fund Selling on a very easy mode of Operation. NJ Gurukul wasis also very useful for me.
ES: Do you promote the idea of savings through MF SIP in your clients?
Devang: Yes I do promote SIP's. I believe and propagate,
"With small investments, you can achieve Big Financial Goals"
&
"A Rome was not built in a Day".
Everything requires time to grow. One should never be timeing the market daily. I always promote SIP according to theirclients' Financial Goals, so it would be a compulsory investment andrequire a commitment and avoid unnecessary expenses.
ES:Client communications is an integral part of your business. Please share any best practices / services related to communications adopted by you.
Devang:MCS images and Videos help our client abed me spreadout the awareness ofabout Wealth Creation and having Insurance. Paper Leaflets- News letters has helped me in generating leads/ acquiring new clients. CRM is very important in managing the clients and building strong relationship with my clients.
ES: How much importance do you give to Insurance in your advisory practice? Devang:Every Citizen should have insurance. Since people have lack of knowledge about insurance, it is our duty to make them understandaware. Even the BJPcurrent Government has started spreading the importance of having insurance.
ES:How much importance do you give to Asset Allocation & Risk Profileing while offering solutions to clients needs ?
Devang:Building Wealth offor Clients is thean important role of a Financial Advisor and it can be achieved by proper asset allocation and by understanding the needs of a client. MARS is a beautiful product of NJ where it provides different Portfolios according to thedifferent needs of Clients. NJ is successfully managing this product which is delivering good returns in any market scenario.
ES: Can you please share your short term and long term targets for your business. Devang: My long term goal is targeting to reach the AUM of Rs 200 Crore by the year 2020 with SIP Book Value of Rs 2 Crore and SIP Book Value of Rs 30 lacs per month as a short term goal of the current F.Y.
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