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Sujata Kabraji discusses the importance of and challenges in implementing Responsible Advising. She begins with explaining that it is imperative to begin discussions around Asset Allocation and Goal Setting right from the beginning to prepare new clients. She stresses the importance of educating her clients as she shares the way she gets her clients to believe in her – “If you want to work harder and save more, it’s up to you” is almost certainly met with “No but we want our money to work harder for us”. She knows her clients fears and behaviour and insists she doesn’t push her clients to a particular decision, pointing out the fact that she contacts them not more than twice regarding a particular decision.
When asked how she deals with client expectations of her regular fund reviews having to translate to portfolio activity, she interestingly says “I teach them to celebrate if I don’t keep shuffling, it means I got it right”. She educates her clients, sharing all her insights through a very open communication channel which harbours a greater deal of trust and a lower level of stress during short-term market lows. She teaches her clients to look up benchmarks when they’re stressed about returns to reassure themselves without having to turn to her.
Discussing what constitutes irresponsible advice, she says the main tell is when an advisor puts their own interests or earnings before a client’s needs. She believes the moment an advisor stops working very hard for his or her client is when they becomes irresponsible. When all mutual funds were re-categorized according to SEBI's new rules, she spent 628 hours of work into meeting fund managers, the marketing teams, the product teams and the sales team of 15 fund houses that she works with, to get complete clarity on how they are implementing the re-categorization, so that she can review her recommended funds list with confidence. Her purpose for this extensive exercise is, of course to encourage an investor to be responsible but also to demand responsibility from Fund Managers towards her client’s money. It is her belief that the client must always feel like they’re getting their money’s worth in terms of what they invest as well as what they pay as fees.
The name is Bond - Sujata Bond - her ability to go into detail is almost embarrassing when one benchmarks oneself against her . Every conversation with her is education . Keep up the good work mam . The new regulatory changes and like they say kathni VS karni thanks to my conversations with her one was able to anticipate almost 2 years earlier and prepare . Respect mam
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