We are approaching the annual Morningstar Investment Conference. Attracting delegates from across the country, this must-attend event poses a unique opportunity to engage with leading investment professionals. You can see a quick video here.
A highlight of the 2016 conference was when Nilesh Shah of Kotak Mutual Fund engaged in a conversation with Vallabh Bhanshali of Enam Holdings and Hemendra Kothari of DSP BlackRock Investment Managers.
Insights from Hemendra Kothari
* You don't do a business to create value to sell. The objective should be to create a great institution, whatever be the size.
* To get clients, you must build trust. You must act like his/her money is your money. Give the best possible honest advice rather than try to constantly see your bottom line. See how you can remain in touch with the market and at the same time give correct advice as per the requirement of that individual’s risk-taking ability.
* Employ the right people in your own firm. To keep good people and nurture them, you must empower them. If you trust them – empower them. I like keeping people who are smarter than me, rather than worrying about that they will learn and get out. Keep people who are smarter than you.
* Embrace technology. It is changing the field of wealth management.
* Put an emphasis on research even if you can get it from outside.
In Conversation with Hemendra Kothari
Insights from Vallabh Bhansali
* Just having an ideal dream is no good. You need some kind of plan that you are able to take action on. Keep reviewing it because everything keeps changing. In every aspect of my life, I have followed these steps: have a large ambition; be inspired by something much bigger than your immediate self; have a conceptual plan you must create, execute, review, renew.
* I tell my people, are you the person that you would like to deal with? Try and think of the other side. If you are too selfish, I want my commission, I was my sales, et cetera, it's not good. But if you think of the other side, they will talk to an honest man, a consistent man, a knowledgeable person, and someone who will keep him out of trouble, and if in trouble, will stand by him.
* To be liberated you must be knowledgeable. Your desire to be liberated from ignorance is what makes you knowledgeable. Before you speak have you given thought if you are qualified to speak?
* There is no formula for success. But there is a formula for excellence. That's how I have lived my life and that's what I would advise you. Your processes - mental, physical, intellectual, emotional, must be excellent and not just adequate.
In Conversation with Vallabh Bhansali
Do join us for the 7th Morningstar Investment Conference to be held in Mumbai on October 10-11, 2017.
Take a look at this video where participants discuss their experience at the conference.
