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NRIs want a one-stop advisor who can give information on investing, how to buy/sell a property, FEMA compliance, gifting, getting a PAN card, opening a bank a/c, inheritance etc.
Both risk adjusted return and return maximization are wanted by NRIs and they are okay with lower returns provided risk is mitigated.
Advisors should have basic understanding of FEMA and Income Tax Act. Any investment done by NRIs is governed by FEMA while taxation part comes under the act.
Know what is applicable to the NRIs. For example, NRIs don't need aadhar card for investments or bank account. If you are not aware of some details, better to inform client than mislead.
Lic has taken insurance as NRI now he ask for pan no
A vivid opening to me.
And where I stand.
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