Advertorial: Raj Mahadev, CFP, Head (Wealth Management), DBS Bank
Raj Mahadev, CFP, Head - Wealth Management, DBS Bank speaks his mind with ET.
As one of Asia's largest financial services groups, DBS has the resources and expertise to provide the full range of corporate and investment banking services to large corporations, financial institutions as well as small & medium sized enterprises.
In addition, DBS also services individual customers through its Wealth Management services.Raj Mahadev, CFP, Head – Wealth Management, DBS Bank shares his views with The Economic Times.
What is the most important part of the financial profiling process?
In an industry where there is an oversupply of self proclaimed financial planners, very few really invest the time and effort required to make and help execute an optimal financial plan. Financial profiling is a long and tedious process, needs a lot of personal time to be devoted to it, but that is what true wealth management should be.
What according to you is the differentiating factor about DBS`s wealth/financial managers?
How do you think wealth managers should be compensated?
We believe that wealth managers should not be compensated by how many products they sell but by how well they have performed for their clients.
After deciding upon the asset allocation, DBS uses a scientific approach for selecting investment products for clients. We believe we are not just distributors of products.
Could you elaborate on DBS's technology investments?
Having realized the importance of an efficient system early on in the business, we invested in technology that allows end to end processing, single consolidated statement across all products, tracks client portfolio across distributors, etc.
For us complying to our ethical and transparent process is key and when we get a client on board, we don't immediately look at churning the portfolio. Using the "Delphi technique" we are constantly sharing learnings with our clients so that there is a clear benefit across all our clients.
How important is client relationship for DBS?
Post investment, DBS does not forget its clients till the next round of NFOs happen. We realize that information is a key component in today's fast changing world and hence we have regular dialogues with our clients, share a monthly consolidated statement and perform reviews as and when market situation demands or the client wishes to discuss.
All material is available on our website: http://www.dbs.com/in/ and is updated regularly.
Lastly, could you tell us what is unique about DBS`s wealth management offering?
Financial planning is a commodity offering in today's market but the differentiation lies in the way it is executed. At DBS Bank our clients' dreams are what drive us to deliver value.
In addition, DBS also services individual customers through its Wealth Management services.Raj Mahadev, CFP, Head – Wealth Management, DBS Bank shares his views with The Economic Times.
What is the most important part of the financial profiling process?
In an industry where there is an oversupply of self proclaimed financial planners, very few really invest the time and effort required to make and help execute an optimal financial plan. Financial profiling is a long and tedious process, needs a lot of personal time to be devoted to it, but that is what true wealth management should be.
What according to you is the differentiating factor about DBS`s wealth/financial managers?
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At DBS, we try hard that our clients don't have to hear what they are bombarded with everyday - "Book profits now", "This NFO is really cheap", "Buy this Fund, its about to declare a dividend" and so on. We believe that a good financial profiler is a true friend, who is working for you and not against you. He should suggest not only the returns to expect but the risks as well, help monitor investments closely and also occasionally tweak it to make sure that the person is always one step closer to achieving his goal!. How do you think wealth managers should be compensated?
We believe that wealth managers should not be compensated by how many products they sell but by how well they have performed for their clients.
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How does DBS select investment products for clients?After deciding upon the asset allocation, DBS uses a scientific approach for selecting investment products for clients. We believe we are not just distributors of products.
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What we offer to our clients is finalized after an extensive partner and product due diligence done jointly out of India and Singapore. We offer products that benefit the client, not necessarily those that benefit the Bank! We offer a comprehensive suite of products that captures the full Wealth Management life cycle. The credibility of the process is reflected in the performance of the portfolios based on the asset allocation model that is reviewed quarterly.Could you elaborate on DBS's technology investments?
Having realized the importance of an efficient system early on in the business, we invested in technology that allows end to end processing, single consolidated statement across all products, tracks client portfolio across distributors, etc.
For us complying to our ethical and transparent process is key and when we get a client on board, we don't immediately look at churning the portfolio. Using the "Delphi technique" we are constantly sharing learnings with our clients so that there is a clear benefit across all our clients.
How important is client relationship for DBS?
Post investment, DBS does not forget its clients till the next round of NFOs happen. We realize that information is a key component in today's fast changing world and hence we have regular dialogues with our clients, share a monthly consolidated statement and perform reviews as and when market situation demands or the client wishes to discuss.
All material is available on our website: http://www.dbs.com/in/ and is updated regularly.
Lastly, could you tell us what is unique about DBS`s wealth management offering?
Financial planning is a commodity offering in today's market but the differentiation lies in the way it is executed. At DBS Bank our clients' dreams are what drive us to deliver value.
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