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iFAST Financial Annual Summit Helps Indian Advisers Navigate Disruptive Times

1/15/2020 2:35:13 AM

Themed ‘Thriving in Disruption’ the recently concluded iFAST Financial India Annual WRAP Summit 2020 aimed at skilling independent financial advisers with business planning, client acquisition and revenue management skills.

Mumbai, Maharashtra,2020: One of India’s leading wealth management fintech platforms focusing on independent financial advisers (IFAs), iFAST Financial India Pvt Ltd ( recently concluded its 7th annual WRAP Summit. Attended by advisers from across the country, the summit featured sessions by leading national and international voices from the wealth management

industry. The theme of the summit was ‘Thriving in Disruption’ and the sessions aimed at helping Indian advisers navigate their businesses through the disruption brought on by market movements, fintech competition, regulatory changes, and other challenges.

“The Indian mutual fund distribution industry is currently in flux, and such changes are hardest for independent, entrepreneurial practices. The regulatory pressure on TERs and commissions, competition from VC-funded fintechs, and the general economic scenario has been tough on advisers. We believe that the fiduciary fee-based adviser is the future and that a digital platform that can help advisers deliver a seamless, hassle free customer experience is going to be a key enabler for them to compete and grow in this changing market.”, said Erik Hon, MD, iFAST Financial India Pvt Ltd. He mentioned that the summit featured experts from the US and Singapore to help advisers understand and equip themselves for these changes.

The keynote speaker for the summit was Robert Huebscher, Founder & CEO of Advisor Perspectives, the leading interactive publisher for Registered Investment Advisors (RIAs), wealth managers and financial advisors in the US. In his session, Robert highlighted trends in the American markets around regulations, fees and robo advisory, and explained that 20 years ago, the US advisory market was where India is today in terms of transitioning towards a fee-based model. Moh Hon Meng, Chairman, iFAST Financial India Holdings Pte Ltd, Singapore; Roy Varghese, Director, Private Client Services, Singapore; Soon-Jey Young, Director, iFAST Global Markets, Singapore; and S Naren, ED & CIO at ICICI Prudential Asset Management Company Ltd from India, were some of the other leading speakers at the event.

The summit hosted a panel discussion on the role of passive funds in asset allocation today, featuring panellists like Anil Ghelani, Head of Passive Investments & Products at DSP Mutual Fund, Akhil Chaturvedi, Associate Director, Head - Sales & Distribution, Motilal Oswal Asset Management Company Ltd, Vishal Jain, Head – ETF at Nippon India Mutual Fund, and Nimesh Chandan, Head, Investments - Equity, Canara Robeco Asset Management Company Ltd. A business planning workshop was held for the advisers, wherein groups of advisers were mentored by business heads from leading Indian asset management companies like Franklin Templeton, IDFC, HDFC, Motilal Oswal, Canara Robeco, Nippon India, and PGIM India. The summit ended with a coaching workshop on the mental traits for thriving in disruption, conducted by Shayamal Vallabhji, Sports Scientist, Performance Coach and Technical & Bowling Coach of Kings XI Punjab.

“The players may have changed, the game still hasn’t,” is how Rajesh Krishnamoorthy, Vice Chairman, iFAST Financial India Holdings Pte Ltd, summarised his message for the Indian financial advisers. “Recognise and value the human aspect of your services at a time when customers often find themselves confused or alienated by technology. However, don’t be in denial either. Leverage technology to improve your last mile delivery, and build your differentiation on top of it. Ensure that your advisory, and not the technology that drives it, is your true bond with the customer.”

The iFAST Financial India WRAP Summit is an annual, invite-only event, and is attended by some of the country’s leading fee-based advisers.



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