I won’t lie that I had a “smart financial expert” upbringing or was very passionate about finance from my childhood. Neither I had a “Rich” dad nor I lived in the company of some great financial gurus. Although I was born in a Rajasthani family but I was never spoon-fed the Marwari traditions of managing money. I was new and raw to this world where billions change hands every day.
MadhupamIt was in 2000 and I had just started my first job at a financial advisory company on Rs 1000/- pm salary, driving from one end of the city to another on my father’s scooter, I knew sales job meant traveling long distances in short time. If it takes sacrifice to show what you are today than this was the time I had just left a campus placed job in brand management (of electronic goods) field, a salary of Rs 11000/- and my girlfriend in another city (she was campus placed too in the same organization and actually we could have moved in together). So this is how my journey started…
I witnessed…
For the next 14 years till today, I was privileged to see the 3 Dimensional image of the financial world. In real or 2D world you see only two aspects of a financial product and these are- you have a need and someone, usually a middleman, an agent or financial planner, cater that need. You have savings and need regarding safety, return expectations, time of investment etc… The advisor takes consideration of your requirements and selects the best product for you… not the solution. In the third dimension, the Savings and Need exist but the advice gets contaminated because of the third dimension called greed. Yes- the advice is biased or there is an absence of advisory. Poor investor becomes the scapegoat and his concerns are sacrificed.
There are good stories also… I have seen advisors turning down offers that will bias their advice. I have seen financial planners turning someone’s life. Goals being fulfilled, prosperity, client turning wealthy and stress-free. I have seen advisor going an extra mile and even at the risk of spoiling his cash flow and relation, he stops investor from committing a blunder.