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Milind Chitnis discusses what constitutes Responsibility in an Advisor-Investor relationship, sharing some possible challenges from an Advisor’s perspective. “I’m not comfortable with clients who simply dump their money on an advisor and expect results”, he says as he explains the importance of a client being involved in the process. He highlights the need to establish expectations right at the beginning in terms of what an investor expects from his/her money. An investor must also understand the two asset classes and their specific functions. Lastly, it is vital for them to be ready for review and periodic communication, as part of being involved in the process.
For Advisors, he first highlights the importance of ethics, explaining the value of making clients aware of where they are and aren’t getting benefits from selling a particular fund as transparency builds trust. He explains that advisors must know their subject and do their research to make sure they have answers to possible questions from their clients. Lastly, he stresses the importance of knowing a client and rightfully determining what is good for them.
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