imgbd An exciting deal for mutual fund advisors

Amit Dalvi, Business Head, Edelweiss Partners

Edelweiss Partners offers a comprehensive, multi-product platform that enables mutual fund advisors to seamlessly evolve into complete financial advisors. This comes at an opportune time when investors are taking to a variety of financial products like never before. Amit Dalvi shares details of this all new proposition from Edelweiss Partners.

WF: The MF industry has seen many fund platforms being set up in recent times. In what ways does Edelweiss Partners go beyond the normal and help fund distributors to evolve into complete financial advisors?

Amit: We are witnessing a huge shift in investor behavior away from physical assets and into financial assets. Mutual fund advisors who are single product focused are benefiting from this wave - but only partially. Would you not like to make the most of this once-in-a-generation shift in investor preference? Why restrict yourself to only mutual funds, when your investors evaluate options across mutual funds, IPOs, company FDs and NCDs? And why lose out business from those investors who choose to buy a home using a home loan and therefore have little to save in financial instruments? As a financial advisor, isn't it time you broaden your horizons, using mutual funds as your base, but also diversify into all other financial products that your investors consider? Do you want to remain only a mutual fund advisor or evolve into a complete financial advisor?

Edelweiss Partners now offers you a one of a kind, partner-focused platform with an aim to ease the process of investing and client onboarding. It offers 'under one umbrella' solution through which our partners can offer different products like Mutual Funds (MFs), IPOs, NCDs, Company Fixed Deposits (FDs), home loans etc. on a single platform to their clients.

WF: One of the biggest benefits of platforms is boosting advisor productivity - how does Edelweiss Partners help in this context?

Amit: Our partners should spend most of their time engaging with investors, but a substantial portion of their total productive time is spent on paperwork and other process driven actionable. Also, our partners should be able to quickly offer product information, or IPO updates to their clients without delay. The platform will help partners will real time information and updates.

The platform allows creating custom portfolios for multiple clients in a very simple manner. It offers a comprehensive range of goal planning tools and online calculators for our partners so that they can make the most of their time with the clients and offer customised and data-driven financial solutions. At the same time, the portfolio recommendations based on client's risk profile. It is also equipped with an e-locker facility wherein the documents of the clients can be stored securely.

With this multi-product platform where partners can make transactions in matter of a few clicks and get real-time information and updates, all they need to do is to meet clients and deepen relationships for cross-selling and better business growth.

WF: What has been the response so far to your new platform?

Amit: It's been two months since our soft launch and the response to Edelweiss Partners platform has been very encouraging so far. In fact, since the launch, more than 1500 users have subscribed to it. Currently, it stands at 90-95% acceptance level among our partners, which is quite heartening to see. When the platform was in its preliminary stage, we took slow and steady steps to reach out to our partners, as a precise evaluation of user needs and nuances can take place only once the platform has been launched and reached the focus group.

Based on their feedback, we enhanced the interface of the platform. Currently, we are looking to aggressively market the platform to reach out to maximum broker base. Over the next one-year, we are targeting a user base of 25,000 partners.

The focus is clearly on quality of user experience. There have been several inputs from our sales team and partners. We have enhanced the platform based on needs of the users. The enhancements in the interface have made it significantly easier for users to navigate through the platform, and much more.

WF: In what ways do you make distributors comfortable with your technology oriented solution, to enable them to make the most of the proposition?

Amit: We are dedicated to train the users on how to use the platform so that they can take greater advantage of the capabilities it offers. Our internal sales team has gone through an extensive training program in order to support our partners. Also, since the launch of the platform, we have been conducting partner meets at branch level on a regular basis. In such meets, we take the partners through an in-depth training module covering aspects like transaction, client portfolios, net worth, and real-time information.

We have also launched a full-fledged 'Help section' on the website to answer user queries. Using this section, customers can have a detailed understanding of how to use the platform.

We have ensured that the content for training module and query resolution is in very simple language. We will also be soon initiating a 'Welcome Call' practice; as soon as a user login will get activated on the platform, our service team will connect with the user and give support if any required for online demonstration.

WF: How are you popularizing this platform and what are plans ahead for this initiative?

Amit: We are reaching out to partners through our digital marketing initiatives. Apart from that we are looking to conduct some roadshows and sponsor some relevant events to bring this platform to the forefront. We have also planned referral programs for partners through which they can earn additionally, by referring their fellow partners in the industry. This will help us to grow our portal network and also help more partners to leverage technology and attain productivity.

Our focus is very clear. We do not want to replace technology with manpower. We want to use technology as a support to manpower. This platform is to aid the partners and help them augment business growth. At this stage, we want to ensure the development of all existing modules to a sophisticated standard. We will soon be launching the mobile app too. In the next one-year, we are looking to offer a comprehensive financial planning for partner's clients. So in nut shell it's clearly human with technology which is going to be focus area for us.

Evolve seamlessly from a single product advisor to a complete financial advisor

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