A trusted and knowledgeable Mutual Fund Distributor (MFD)is key to anyone seeking valuable investment guidance and counsel. Empathy, logical thinking, and presentation skills are essential qualities that come with being a sound MFD. However, some attributes are not readily visible, but equally essential in dealing with clients.

Here are seven fine qualities that every MFD must be fully aware of and try to possess.

A clean reputation

Money and wealth are core to our well-being. We strive throughout our active lifetime seeking, accruing, and protecting our sources of income. Trusting someone with our money is a serious matter. Be it a bank, an investment firm, or an MFD, our foremost concern is trustworthiness. Therefore, it is of paramount importance for a financial advisor to build and project an impeccable reputation. To establish an excellent track record of honesty and reliability, with proven credentials. Remember, the quality of referrals and recommendations that back your status at the marketplace can make or break your advisory services career.
The ability to see the big picture

They say, "Money isn't everything." As a financial advisor, you should be able to reach out to clients, not just as someone concerned with their financial needs, but also be in a position to observe and reflect on the quality of their lives. Often, people warm up to financial advisors who appreciate their goals, fears, and what is profoundly important to them in their lives. It is crucial for you, as their financial advisor, to take all the factors of your client’s experience into account. These could span a whole host of other areas such as their children's needs, housing requirements, retirement plans, or parental care.
Being proactive

To be proactive may sound like a very generic, fundamental requirement for anyone chasing success. But financial advisory puts you in the driver's seat, leading the way of someone's economic well-being, and by extension, their quality of living. That is a pretty serious responsibility. You need to keep your communication lines open, ready to spot and seize every opportunity to increase your client’s financial worthiness. It would be best if you spared no effort to be prepared with all the requisite analysis and reasoning related to every recommendation you make.
Courage and conviction

Clients love advisors who possess the courage to stand by their convictions. It displays integrity and ingenuity. An advisor who is patient and doesn't panic is critical to success. If you are always evaluating what options are best for your client, you will be ready to face different outcomes. You will always have a contingency plan for any given situation. Financial investments are entirely dependent on the push and pull of market forces, not always under your control. It is a highly competitive field, and therefore only the sturdy and the strong succeed.
Being prepared for downturns

Good financial advisors keep clients focused on long-term financial plans. When your advice is based on logic and a clear plan, it may ensure financial stability even when the economy faces a natural downturn. You must be well prepared to provide industry and historical context so that your clients feel reassured and avoid reacting in the moment. Investors tend to make emotional decisions in response to a loss of wealth. Clients who receive sound professional financial advice experience emotional benefits, especially during periods of stressful economic uncertainty.
Transparency

As cliched as it may sound, transparency in your dealings is a highly valued trait among clients. Do your clients know how you make your money? Do you ensure that your clients are completely clear about your charges, fees, and commissions? It is always good to begin by assuming that every client harbors a suspicion that there is a hidden agenda in your recommendations. It would be best if you made every effort to allay those fears.
Uphold client’s financial interest

It is easy to go along with your client’s ideas and plans, but it can often make terrible financial planning. And crucially, it can backfire on your reputation as a financial advisor. You are there for one reason — to provide honest advice based on your knowledge, experience, and insights. Sometimes that will mean disagreeing with your clients, and that is ok. And conversely, there may be occasions you may stand to gain from deals that you know are not in your client's best interest. It would help if you took care never to fall prey to such temptations. It goes back to quality number one - protect your reputation and integrity at all costs.

Being a Mutual Fund Distributor can be a highly rewarding career and a great way to live life. You can look forward to a life brimming with warm relationships, loads of exciting moments, and above all, the satisfaction of knowing that you are making genuinely beautiful contributions to the well-being of countless other people along the way.

For AMFI/NISM certified partners only. For private circulation only.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.