The financial decisions by a finance professional make a remarkable impact on his or her associates whether its a company or an individual client. The reliability and sustainability of these decisions play a major role in shaping the career of finance professionals.
This gives rise to the need of good MBA finance colleges such as International College of Financial Planning, that not only educate their students with the core content of syllabus but also with the useful knowledge pertaining to this field.
Here are some of those tips, that a good MBA finance college will teach its students, to be discussed with the clients-
Suggest your client to not to invest all their savings.
As a finance professional one often meets people who get too much excited over the idea of investments. They may be aware of the risks involved but at the same time they are too much diverted towards the expected profit returns. The reality of investments, if it bears a high amount of risk, should be clarified to the clients. They should be given a good portfolio and suggested to invest only a part of their savings to one kind of investment. For e.g. some experts suggest that out of one chunk of savings save 20% for retirement and consider investing rest 80%. These useful tips one can learn while pursuing internship program during MBA in finance.
Suggest the client to always bear a good credit record.
When you will learn about loans and credits during MBA in finance, you will also get to learn about some frauds and lapsed payment case studies. This will enable you to visualize that in each of such cases how the client only had to suffer at the end along with the lending authority. Thus, suggest your client to keep a clear credit history, so that if in future any further need of taking up a loan or a credit arises, the client should not face any difficulty. The client needs to build up a market reputation of trust and reliability. As a finance professional you should guide the client about the several elements involved with keeping a clear credit record.
Budgeting the client’s requirement.
Earlier, when people used to get retired, their whole-sole dependence was on the retirement fund or PPF that they expected at the end of their working age. But these days, as you will learn in your MBA in finance course, a number of market instruments are available for investment, PPF doesn’t seem to be the only option left with the retired people. If they plan about retirement at early stages they can avail more benefits at a later age. As a student of an MBA finance college you will learn about more of these policies and investment plans.
Let the client know that salary should not be the only source of income.
With the ever rising expenses and market inflation rates, the clients generally ask their financial advisor about some additional source of income. As most of the MBA finance colleges teach their students, there are various type of plans for investment and savings returns to help people to get subsidiary income support. For example, you can suggest an HNI client to invest in large scale project such as an educational institution while a middle class client to invest in property or commodity or liquid money etc. Such advices to the clients help a professional to win the trust factor of clients and secure a stable career in finance.
