International Best Practices by New Age Financial Advisors

1. International Best Practices by New-Age Financial AdvisorssModels l Marketing l Technology l Knowledge Presents By Sadique Neelgund, CFPCM

2. International Best Practices by New Age Financial Advisors Workshop Objectives Open up advisors thinking to international best practices followed by professional & new-age financial advisors Explore the major areas like advisory models, knowledge & skills required, digital marketing & technology adaption. Showcase relevant case studies of advisors / planners from aboard & India who are following these practices Guide financial advisors in India to transition to new age advisory models and practice management. Inspire financial advisors to transition to a professional financial planner and adopt financial planning process as advisory delivery model.

3. International Best Practices by New Age Financial Advisors What to expect and what not to expect? Will expose you to many ideas that can transform your advisory practice This is practical workshop… 70 % of the time you will be on your laptop and internet I am not a good speaker… but my students say that I am good trainer :-) A lot of learning will happen after you go back from here from the links & resources shared

4. International Best Practices by New Age Financial Advisors Workshop Structure • Session 1: Models Direction, Structure, Team, Services, Products, Compensation, • Session 2: Technology Softwares, Platforms, Online tools, applications, freewares • Session 3: Marketing Website, Digital Marketing, Referrals, Seminars • Session 4: Knowledge Qualifications, Continuous Education, Study Groups, resources

5. International Best Practices by New Age Financial Advisors Let’s start with a self assessment Fill the form given to you on the link below You have 10 minutes to answer the form Will see the results right away on the screen Participants details not revealed. Be true.

6. International Best Practices by New Age Financial Advisors Models

7. International Best Practices by New Age Financial Advisors Get the Direction Right!

8. International Best Practices by New Age Financial Advisors What is Financial Planning?

9. International Best Practices by New Age Financial Advisors What is a Financial Plan?

10. International Best Practices by New Age Financial Advisors Who is a Financial Planner?

11. International Best Practices by New Age Financial Advisors Possible Fee-based Services Comprehensive Planning Specific Goal Planning Investment Products Advisory Portfolio Management Services Risk Management & Insurance Planning Wills & Estate Planning Income Tax Advisory Cashflow Management Family Office Set-up

12. International Best Practices by New Age Financial Advisors Possible Fee Models Commission Only Retainer… project based annual fee Assets under Management Assets under Advice Hourly Fee Offset Fee + Commissions

13. International Best Practices by New Age Financial Advisors But who will pay fee? • Not everybody requires professional advice • Not everybody will be ready to pay fees • But each advisor requires not more than 50-200 clients! • People in the Higher Middle Class, Mass Affluent, HNI • Need professional advice • Have the ability to pay fees • It’s upon us to change “ability to willingness” • By creating a value proposition • By educating and marketing the value proposition • By delivering more value than fees paid

14. International Best Practices by New Age Financial Advisors SEBI Investment Advisor Regulations Irrespective of whether you register or not Start Complying in Spirit Separate advisory from execution Be adequately qualified Follow processes Have process related documents Maintain proper records

15. International Best Practices by New Age Financial Advisors Typical Growth Path of Financial Advisors National Multiple Cities All India Presence Regional Branch Offices Regional Presence Branch Multi Advisors Bigger Support Professional Support Team Proper Office Startup Single Advisor Home Office Similar Growth Path can also be under a Partnership Model

16. International Best Practices by New Age Financial Advisors All the photos and links are from study tours organized by Network FP to FPA Annual Conferences in USA Indian Delegation to FPA Annual San Antonio 2012 Indian Delegation to FPA Annual San Diego 2011

17. International Best Practices by New Age Financial Advisors Offer Complete Bouquet of Fee-based Services Kevin Moore, i Financial, San Antonio

18. International Best Practices by New Age Financial Advisors People pay fees for perceived value & benefits…Clients stay with you for delivered value, comfort & trust Jim Freeman, Financial Alternatives, San Diego

19. International Best Practices by New Age Financial Advisors First time Financial Planning Fee + Ongoing AUM based Fee is almost the established model Lisa Kirchenbauer, Omega Wealth Management

20. International Best Practices by New Age Financial Advisors Clarify your offerings before onboarding new clients Deena Katz, Evensky & Katz Wealth Management

21. International Best Practices by New Age Financial Advisors Six Step Financial Planning Process is the Established Delivery Model Greg Wright, Metlife – Financial Planning Vertical

22. International Best Practices by New Age Financial Advisors Develop a niche practice if you do not intend to scale up your advisory practice Cris Rand, Strategic Wealth Advisors

23. International Best Practices by New Age Financial Advisors Build a great team… client wants to deal with a trusted advisor who has a great support structure Michael Kay, Financial Focus

24. International Best Practices by New Age Financial Advisors Advisors are not in the business of investment management alone… We are in the business of client behavior management… Embrace Life Planning George Kinder, Founder, Life Planning Movement

25. International Best Practices by New Age Financial Advisors Use Client Engagement Tools & Materials Carol Anderson & Amy from Money Quotient

26. International Best Practices by New Age Financial Advisors Build a strong support system (Tied Platforms) John Trusela, Ameriprise Financial, San Antonio

27. International Best Practices by New Age Financial Advisors Build a strong support system (Open Platforms) Sheryl Garrett, Garrett Planning Network

28. International Best Practices by New Age Financial Advisors Get the right certifications for – knowledge, client trust, professional network Tom Warschauer, San Diego State University

29. International Best Practices by New Age Financial Advisors Put Processes, SOPs, Documents, Records in system for efficiency & effectiveness Office of Judy Hagar, Wolters, Hagar & Pratt, San Diego

30. International Best Practices by New Age Financial Advisors Technology

31. International Best Practices by New Age Financial Advisors Acknowledgement Bill Winterberg, Blogger, Speaker, Consultant, FP Pad

32. International Best Practices by New Age Financial Advisors Technology Framework for Advisors (Ideal) Customer Relationship Management Solution (CRM)

33. International Best Practices by New Age Financial Advisors CRM Applications

34. International Best Practices by New Age Financial Advisors Money Organizer Application

35. International Best Practices by New Age Financial Advisors Financial Planning Softwares

36. International Best Practices by New Age Financial Advisors Portfolio Management Softwares

37. International Best Practices by New Age Financial Advisors Product Research / Sales Assistance

38. International Best Practices by New Age Financial Advisors Advisory / Execution Platforms

39. International Best Practices by New Age Financial Advisors Utilize what you already have

40. International Best Practices by New Age Financial Advisors Online Tools & Applications

41. International Best Practices by New Age Financial Advisors Virtual Meeting Applications

42. International Best Practices by New Age Financial Advisors Online Document Storage

43. International Best Practices by New Age Financial Advisors Mass Mailing Applications

44. International Best Practices by New Age Financial Advisors PDF Management Apps

45. International Best Practices by New Age Financial Advisors Social Media Management

46. International Best Practices by New Age Financial Advisors Team Management Apps

47. International Best Practices by New Age Financial Advisors Website Building & Hosting

48. International Best Practices by New Age Financial Advisors Productivity Enhancement Apps

49. International Best Practices by New Age Financial Advisors Marketing

50. International Best Practices by New Age Financial Advisors Acknowledgement Michael Kitces, Blogger, Speaker, Writer, Author, Kitces.com