Network FP Annual Conference modeled on the popular FPA conference held in USA ends on December 7th.
Over 150 enthusiastic advisors and wealth managers from across the country congregated at the Network FP Annual Conference 2012 held in Mumbai. Themed ‘Problems are Opportunities’, the five-day event kicked off on 3rd December with workshops on global best practices for financial planners, wills & estate planning, life planning and mind mapping.
Sadique and Priti Neelgund, the key people behind Network FP had taken care to develop an action packed agenda and invited a galaxy of speakers, international and domestic to do justice to the topics.
Shawn Brayman, President and CEO of PlanPlus Inc, Canada urged the audience to read research on financial advisory profession than reading ‘marketing material’ provided by manufacturers. Shawn is a winner of ‘Financial Frontier Research Award’ which is awarded by Journal of Financial Planning.
Paul Resnik of FinaMetrica, Australia urged advisors and financial planners to prepare themselves for more regulation and de-emphasised alpha chasing.
While Uma Shashikant gave her take on the likely direction of advisor regulations, Gaurav Mashruwala spoke about the emotional aspects of retiring clients. He said that mental health plays a much important role for retiree clients than money.
Suresh Sadagopan of Ladder 7 Financial Advisories talked about applying ‘Blue Ocean Strategy’ in financial advisory practice. Creating new demand/market rather than competing for existing demand is known as Blue Ocean Strategy. Red Ocean strategy on other hand is competing in existing market.
Sumeet Vaid of Ffreedom Financial talked about the advantages of seminar marketing (a strategy which he has used extensively) for advisors to acquire new clients.
Sapna Narang gave an interesting perspective on developing a business model to offer wills and estate planning services to clients while Yogin Sabnis talked about nurturing and retaining talent in advisory business.
Brijesh Dalmia from Kolkata guided advisors on implementing the right fee structure. He shared various types of fee models (percentage fee on AUM, profit sharing, fee per plan, fee per transactions and fixed annual fee) and their pros and cons.
Other interesting presentations were made by Lovaii Navlakhi, Vishal Dhawan, Dr. K.K. Goel and Rajiv George.
Network FP also hosted a first-of-its-kind exhibition in India where around 20 software and technology solutions providers showcased their offerings to for advisors and wealth managers.
The conference ends on December 7th with a ‘Planners Connect’ program, modeled on FPA Annual Conferences held in USA. In this program, outstation delegates would get a chance to meet with top practicing financial planners in Mumbai. Delegates would get insights on how these successful financial planners are running their practice.
The event has turned out to be an ideal platform for financial planners to learn, network and bond.
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