There are a few points I wish to share which I learned during my internship at Impetus. Before that I want to express my gratitude to Mr. P.R. Dilip for providing me with such a great opportunity. It was highly motivating and enriching learning experience where I not only learned about wealth management but also some of the great life lessons like:
“Honesty is the best policy and never compromise on someone’s trust.”
“To convince others, you first yourself need to be fully convinced about your convictions.”
“To learn, understand and incorporate a new pattern and to see things from a third eye, you first need to unlearn and unclutter your brain so that the mind can store the necessary and leave the rest.”
Wealth is not just money. It is a combination of the all the positives in one‘s life; of material as well as spiritual resources of a person. In India Goddess Lakshmi depicts wealth. Wealth management is one of the most crucial and sensitive task which requires absolute trust and honesty. As a wealth manager one should suggest a financial plan which suits the client’s needs and goals, and which is not aimed solely at selling a product to him. This industry is intellectual and process driven. It should be customer focused rather than product focused. The wealth manager should know in and out of the customer’s psyche to manage his wealth appropriately. One should have vast knowledge of the past as well as future possibilities to suggest better.
As an investor, a person should be well aware his own needs and goals, his phase of life, the biases and superstitions he may be suffering from; and should try to come out of those so that he can think logically and invest prudently. Also before accepting any wealth manager’s suggestion, one should know the process behind that suggestion.
After doing a detailed research on saving and investment patterns in India, I found out that, it would be more beneficial for the people as well as the country if they invest in financial assets like mutual funds, equity etc.
Before investing in equity or stock of a company one should not only look at the financials but also the strategic business planning of the company, the sector in which it falls and the overall growth prospects of that industry to get better returns.
Hence having a macro as well as micro view of the sector, industry and the economy is the most important thing.
Lastly, as an MBA student, I would always say that Impetus is the best place to learn and explore.
– Riddhi Jain