The first step into the workplace as a Wealth Management Trainee and I got to feel the aura that was surrounding the place. Stock Brokers frantically dialling and talking to customers while they place orders of various scripts on their system, the back-end people completing all the formalities related to the transactions and the front-end people catering to the new customers. At the helm of affairs was the managing director of the company Mr. P.R. Dilip, surrounded by his library of books and newspapers in his quaint cabin, constantly searching for a new investment opportunity to provide those extra percentages of returns to the investors that believe in him. With no money spent on marketing, Mr. Dilip is of the opinion that his clients are the best way of spreading the word about his company.
Directly being mentored by the Managing Director himself, we started our work on the project titled ‘A Holistic Approach to Wealth Management’ which included researching the household savings and investment data and finding out the reasons for the conservative investment strategies taken by them. The research was preceded by we getting an understanding of the regulators in the Financial Ecosystem of our country, the rules & regulations that they formulate and the powers that they have over the companies. Within a couple of days, we were introduced to the Impetus way of customer profiling. This customer profiling is basically an excel sheet, that takes a deep dive into the lives of the individuals filling it and helps the company get an understanding about this customer. Mr. Dilip carefully analyses this sheet and provides his input to the client. He believes in educating his customers and making them self-sustainable rather than making them depended on him. We were fortunate enough to get a hands-on experience on that client profiling tool by getting a couple of customer profiling done and providing them with a financial roadmap, under the guidance of our mentor.
Further, into the project, we undertook Equity Research on a company of our choice with a futuristic outlook which could be a great investment opportunity in the time to come. This Equity Research report provided immense understanding about the company and the sector that that company was in. Lastly, we ended the project by gaining understanding the future prospects in the field of Wealth Management which included developing insights about the new financial products that are available in the market, cryptocurrencies, robo-advisors and the future of wealth management industry.
The journey of my internship was filled with learning ranging from life skills which are needed to settle in a new city to have a knowhow of the workplace ethics. The learning from everyone who was a part of the company was immense and it definitely paved way for me into a fruitful corporate life ahead.
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About the Author:
Sahil Sheth
A full-time foodie and a BBA Graduate from Symbiosis with a passion for reading books. Keen on developing insights about the Indian Financial Market and an aspiring Wealth Manager.
Second Year PGDM student at Institute for Financial Management and Research (IFMR)
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