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A unique way of maintaining Client Relationships and empowering lives

From being awarded as the innovator in finance, to maintaining client relationships on the go! Khyati Mashru shares her experiences as an advisor and what works best when markets are volatile. It is sure client relationships which are beyond numbers and we admire the way she does it. Read on to know her insights!

MF Live: Awarded as Innovator in Finance for 2012, at International Women’s Leadership Forum. That’s a big title please share your experience and what brought this honour?

Khyati Mashru: Well, One of my clients had nominated me on this platform. She was completely awed by the entire process from start to the end and she felt it made a difference to her life totally and helped her take a holistic approach to her finances! She also felt the way entire planning to counselling to coaching was done can really make a difference to people’s life. She was so much at peace with her money post the planning process and she felt it was very innovative and engaging way to solve the financial puzzle of people’s life. And yes, after jury examining the entire process felt this was quite innovative and that made us win it! Undeniably, it was an amazing experience and this reminds us as a team time and again to keep innovating and keeping making difference to people’s live. Life is everything beyond numbers.

MF Live: What are the major milestones in the industry for Women advisors as well as Women Investors?

Khyati Mashru: Honestly no Milestone as such, when you look at things from my perspective - I just strive to be better than what I was yesterday. As long as my clients are coached well, financially empowered and if their wealth  is growing year on year and if they aren’t panicked when markets are low and volatile - then I think I have fairly achieved my milestones.

Women investors perspective - Firstly, They need to know their no’s well as to how much insurance, medical insurance and corpus is required for various goals they have including kids education, retirement, holiday goals etc. And even if they start to save 50% of what is required for them to achieve goals then it would say first milestone is achieved and then they can gradually step up  by 10-15% year on year.

MF Live: How do you build the trust in the clients?

Khyati Mashru: I think its just about coaching them right and helping them understand how actually it functions. More than money it’s about managing their emotions with money. Its giving them the right education and facts. Most importantly, being with them when they have to make important decisions related to money - Like, buying a home, helping them on options which school to select for their childeren’s, What’s a maximum amount they should be spending for their annual vacation etc. helps big time in building trust.

MF Live: Connecting with clients is an important task for you. How do you maintain Client relationships? What problems/ challenges you face while connecting the clients?

Khyati Mashru: Honestly, that’s the major task I focus on as a Chief financial coach. So my travelling time is used as communication time. I always carry a list of clients with me in my file and I reprint that list every quarter, so I make a point other than clients scheduled review I have to touch base with all clients once in a quarter just to check what’s going on in their lives and not talking about finances on that call. Apart from that we make a point to wish client on their birthdays & anniversary’s and in fact my team makes a small video with each of us wishing him/her and we send that. I feel that’s highly personalised and in that way the overall relationship of client with my team also improves. Over and above this personalisation, newsletters, whats app broadcasts are routine means of communication.

MF Live: What’s your Mantra for Motivation?

Khyati Mashru: First time, few years back I got a call from my client - Father said that today our son is going to USA for further studies and it was only possible because we were guided well and without any stress we could achieve our dream, his Mother was very emotional when she spoke to me. One couple called me for their house warming ceremony and they said it would not have been possible without you. So this gives me a kick to do more and more better and keeps me motivated 24*7. I just want to hear more and more of goal achievements in time to come.

MF Live: How do you stay updated on various subjects concerning yours profession?

Khyati Mashru: Well, thats the most challenging thing. But yeah, technology makes it easier for me to do that. All the information you need is available on your fingertips. So I dedicate 30 mins to scroll through all of it during the day and yes of course weekends I give a little more time to stay updated and read more.

MF Live: What do you think will be the toughest part of this job?

Khyati Mashru: Everything is great, when going SEEMS good. When markets are volatile or on correction mode and doesn’t give a desired returns even one year then yeah that is the tough time and convincing them to hold on at that time is a toughest part of the job. Any relationship is to be held strong when it’s at a weakest point, if you are with clients during this phase - they for sure will be your clients for life!

MF Live: Female and Finance- Elaborate

Khyati Mashru: Well I personally believe that things are changing in a better way now more women's are getting access to equal opportunities at work, home and society, but still there is a need for re-organization of how finances are managed in the family setting and on an individual level. Women's are well versed with the art of handling finances as they grow up handling wellness of almost everyone around them, Battling every day in a system that is stacked against her in many ways.  Even today also a large majority of women seem to be neglecting a very crucial aspect of their life i.e. PERSONAL FINANCE. Even today, women tend to shy away from money matters and they rely on their father, husband, etc. Women's are the valuable member of this society who needs to be on her own, Financial Independence would just be the first step towards the long journey of discovery her own identity.

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