Karan Datta introduces a whole new dimension to your client engagement efforts, with the launch of Axis MF's "Do Your Homework" initiative. Axis MF's research demonstrates clearly that planning for children's education is the undisputed No 1 goal for Indian families today. What parents need today is not just number crunching and an SIP recommendation - they need lot more support in helping them actually prepare - emotionally and financially for their family's most important goal. Axis MF has gained rich insights into what consumers really need on this front, and has come up with a comprehensive support solution, which you can now take to your clients. Here is an opportunity to significantly enhance the quality of conversations you have with your clients - read on as Karan shows us how.
Friends,
I want to share with you some insights we have gained by listening closely to what investors are saying, and a proposition we have come up with, to address what investors want. Here is one statistic for you to think about: In a consumer research exercise we conducted covering 1000 parents with children in the 4-12 age group across 10 cities, 83% of them voiced children's education and education related expenses as their biggest apprehensions. Apprehensions about "retirement planning" and "EMIs on loans" come in way behind at 39% and 22% respectively.
The Number One Goal that Indian families are concerned about is providing good education for their children. Its not just the cost of education that is a concern - there are today, a plethora of education and career options available for their children, which were not available to their parents. Unconventional career choices are often difficult for parents to comprehend and enthusiastically support. What parents need, more than ever before, is to first prepare themselves to support their children emotionally through their career choices, and also financially, to help give wings to their dreams. What parents need to do is, to do their homework.
Here's a short video on an experiment we conducted, which brought home the point to us, that parents have some homework to do, in terms of aligning with their children's aspirations.
Whether you are a distributor or advisor, we ought to be consumer-centric, we ought to focus on helping investors do their homework well - not just on the money aspect, but beyond.
I am sharing in the links to this note, the contours of our initiative called "Do Your Homework". What we are trying to do here is to change the language we speak with investors. Its not just about running some numbers and suggesting an SIP. Its about helping parents connect better with their children's aspirations, and then helping them put together investment plans to realise these aspirations. Our attempt with "Do Your Homework" is not to focus on any particular product - its to focus the conversation with investors on issues that matter most to them.
I do hope you will take the time out to go through our research findings and our "Do Your Homework" initiative. I do hope this will help you enhance the quality of conversations you have with your clients on their number one goal.
Its time for us to do our homework well, to enable investors to do theirs.
AMC Speak
