As a part of Saturday School, the Franklin Templeton Academy in association with Wealth Forum takes this opportunity to present a series of advisor training modules on video, one every month, on various aspects of financial planning and the investment advisory business. You could view this video content by visiting the link https://www.franklintempletonacademy.com/and view different courses on your desktop, Tablet or Smartphone. Moreover, watch these videos in the language of your choice - English, Hindi, Tamil, Gujarati and Bengali. If you are a first time visitor, you will need to go through a simple one-time registration process before viewing the video. The videos also have a multiple choice quiz at the end of the module to help assess your understanding of the topic. You could even receive an e-certificate on successful completion of the course. In the fourth part of our series, this month, let us discuss the module on "Advising Affluent Investors"

Mutual funds are a very versatile product available across asset classes, risk profiles and investment horizons. There would hardly be any 'would be investor' who may not find a product in the mutual fund suite to match his goals and risk appetite. However, mutual funds are not a 'one size fits all' product and advisors need to differentiate their communication and approach towards each investor. The first key task of advisors, therefore, is to segregate investors based on their requirements as well as their current financial status and accordingly strategise.

This module on 'Advising Affluent Investors'from Franklin Templeton Academy is aimed to explain the softer aspects of engaging with mutual fund investors and the art of professionally conversing across varied clients group. The following four videos help in building a strong foundation for advisors to interact with new and existing clients - 1. Segmenting clients on the basis of their wealth relative to their financial goals, 2. Dealing with knowledgeable clients, 3. What are the factors that make an investor choose an advisor, and 4. Affluent Clients: Needs vs. Preferences. A note of caution is that advisors must view these videos as Client Management videos and not Business Development videos.

The first video 'Segmenting clients on the basis of their wealth relative to their financial goals' helps to define clients under three broad categories - Retail, Retired and Affluent.It further explains how toinfluence each client group in a professional manner. Among the three groups, interacting with the 'Affluent' group would be the most challenging as the group would be 'wealth sufficient' to meet all goals and aspirations. The video explains the differential approach to be used while interacting with this group. Besides, there are also useful suggestions that may be used while interacting with 'Retail' (working age group) and 'Retired' client groups.

The second video on 'Dealing with knowledgeable clients'explains how this category of investorsneeds to be carefully handled by acknowledging their knowledge about investment products.

The third video on 'What are the factors that make an investor choose an advisor' looks at qualitative factors like trustworthiness and delves into various aspects of this trait which may be help to build a long term relationship with clients.

The last video on 'Affluent Clients: Needs vs. Preferences' looks at the factors which are expected to play an important part in investment decisionsfor this group as well as the non-stereotypical role advisors need to play while influencing this group.

We hope you view these videos in detail and also encourage your team to do so. As mentioned earlier, you could view this module and other interesting topics by visiting https://www.franklintempletonacade
my.com/and view different courses on your desktop, Tablet or Smartphone. Moreover, watch these videos in the language of your choice - English, Hindi, Tamil, Gujarati and Bengali. If you are a first time visitor, you will need to go through a simple one-time registration process before viewing the video. The videos also have a multiple choice quiz at the end of the module to help assess your understanding of the topic. You could even receive an e-certificate on successful completion of the course. Do write back to us with your feedback and suggestions on editor@templeton.com .

Share this article