Tuesday, January 27, 2009

My Wishlist for a Financial Services Company

Financial services is a fragmented one in India. My rough estimate is that there are over 20 lakh agents & advisors trying to sell you a financial product.

And there is an information asymmetry there, with your advisor knowing more info about the product than what is known by the buyers.

Moreover, an insurance agent doesn't know about Mutual Funds and vice versa.

I think there is a huge business opportunity for a one stop, holistic financial services company.

What would be my wish list from such a company?

To differentiate between other competitors, which includes millions of agents/advisors, they must have:

  1. Well trained, professional financial planners on role call
  2. Providing personal finance education to the prospects through:
  • e-books,
  • fortnightly news magazines,
  • online module on financial planning,
  • seminars every week,
  • seminars at the workplace of prospects (through tie ups with corporates)
3. Providing personal finance desktop application/software to the clients

What is your wish list for a Financial Services Company?

My Timelines on Twitter

India's first online weekly on Personal Finance

Post a Comment