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There are currently 4 models - 1. pure distributor execution model 2. Advice cum distribtion where the digitization is now getting evolved. 3. Purely digitized and template based model. 4. RIA.
RIA model will become large in the HNI space. Digitization based model will become more mainstream. Distributors have to see digitization as a facilitation instead of intermediation.
Narrative has changed from amount to # of clients, all about customer acquisition. So digitization is a necessity for IFAs to connect to many as clients as possible.
Bottom of the pyramid -- those who have 20-30K one-time investment -- are not being serviced. For that segment, distributors need to invest in technology as well as human resources.
Relationship led business development is a thing of the past and is now driven by content selling and advice around portfolio allocation. IFAs have to increase their knowledge base, use technology.
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