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Financial Distribution Summit 2012
HighLights
 

a)      The distributor needs to be compensated adequately but equally important is increasing the range of financial products: Sriram Taranikanti, IRDA

 

b)      Margin in the industry can be raised only by increasing volume and the key to increasing volume lies in having a talented distribution agency force: Rajiv Bajaj

 

c)      Much of the infrastructure for investment is in place, what is required is enhancing financial inclusion and financial deepening:  C Jayaram

 

d)     Customer opportunity and customer value are two things and what we really want to give is value to the customer:  Rajiv Bajaj

 

e)   There are several emerging challenges in the distribution of financial products given the larger extent of financial exclusion and the lack of financial deepening in India, said top professionals from the financial services industry, tax and regulatory services and financial planning organizations. They highlighted that industry needs to debate on the advisory and agency/ distributive models of distributing financial models, particularly at this juncture when the country’s economy including the financial sector is expanding while a vast section of population lies financially excluded. They were speaking at the CII’s Financial Distribution Summit 2012 here today with the theme ‘Financial Inclusion: The Untapped Potential’.

 

f)   Addressing the august gathering, Sriram Taranikanti, IAS Executive Director, Insurance Regulatory and Development Authority (IRDA) said, “The distributor needs to be compensated adequately but equally important is increasing the range of products for the customers, particularly for those in the rural and semi urban areas.” He also stressed on the need for convergence towards the rural side besides working towards reducing possibilities of mis-selling. 

 

g)    Speaking at the Summit, Mr Rajiv Bajaj, Vice Chairman and Managing Director, Bajaj Capital Ltd said, “The margin in the industry has come down and there is no other way but to increase volume and for that what is required is bring in talent in our distribution agencies.” He further added, “Customer opportunity and customer value are two things and what we really want to give is value to the customer.” There have been successful models in India like the micro finance and micro mutual funds, but still the financial planner needs to take up the responsibility of fostering financial education, he informed.

 

h)    Much of the infrastructure for investment is in place, what is required is enhancing financial inclusion and financial deepening by making more products available to larger number of people, said  C Jayaram, Chairman – CII Financial Distribution Summit 2012 and Joint Managing Director, Kotak Mahindra Bank Ltd. He highlighted the lack of depth in India’s debt, currency and derivative markets and the need to create the necessary support and channels to meet investment priorities by capturing the untapped customer segments.

 

i)    Speaking at the session, R Mukundan, Deputy Chairman, CII Western Region drew attention to how we can leverage technology for making quicker and efficient payments along with active engagement of the intermediaries. Pointing at the vastly untapped potential, he observed, “Only around one percent of Indian population participates in capital markets investments and around 80% of these investors are from metros and Tier 1 cities.”

 

j)         Among others who participated in the Summit deliberations were Shinjini Kumar, Director – Tax & Regulatory Services, PricewaterhouseCoopers Pvt. Ltd. Ranjeet Mudholkar, Vice Chairman & Chief Executive Officer, Financial Planning Standards Board India, Vikrant Gugnani, Chief Executive Officer, Broking & Distribution Businesses Reliance Capital Ltd., Rohit Bhuta, Chief Executive Officer, Religare Macquarie Wealth Management Ltd., Hemant Bhargava, Executive Director (Marketing/ PD), Life Insurance Corporation of India, Gaurav Burman, Associate Director, PricewaterhouseCoopers Pvt. Ltd., Jaideep  Bhattacharya, Managing Director, Baroda Pioneer Asset Management Co. Ltd., Royston Braganza, Chief Executive Officer, Grameen Capital India Ltd., Vishal Kapoor, General Manager, Wealth Management, India and South Asia, Standard Chartered Bank, Atanu Sen, Managing Director & Chief Executive Officer, SBI Life Insurance Co. Ltd., Jignesh Desai, Joint Managing Director, NJ India Invest Pvt Ltd., and Sumeet Vaid, Founder and Chief Executive Officer, Ffreedom Financial Planners.
 
Description

CII had organised the Financial Distribution Summit, CII’s National Flagship Summit on the financial distribution community on 19 December 2012 at Hotel The Lalit, Sahar Road, Andheri (E), Mumbai under the Chairmanship of Mr C Jayaram, Joint Managing Director, Kotak Mahindra Bank Ltd.

 

This national initiative was supported by Bombay Stock Exchange Ltd. (BSE), Central Depository Services (India) Ltd. (CDSL), Foundation of Independent Financial Advisors (FIFA), Insurance Brokers Association of India (IBAI), Life Insurance Council, National Institute of Securities Markets (NISM) and National Securities Depository Ltd. (NSDL) along with Financial Planning Standards Board India (FPSB India) as the Academic Partner and PricewaterhouseCoopers (PwC) as the Knowledge Partner.

 

The Summit had covered a wide range of topics including:

 

  • ‘Key Regulatory Drivers for Advisory and Distribution Growth’
  • ‘Innovating the Distribution Channels’

 

Leading industry players also participated in an exclusive Thinktank Panel Discussion ‘Global View and Indian Perspective: On the Current Model of Advisory and Distribution in India’.

 

Thus the theme …‘Financial Inclusion: The Untapped Potential’.

Knowledge Resources
You will get access to following Knowledge Resources by subscribing to the Digital Library of this event.
 
Bancassurance or Tied Agency – which is better? by Mr Atanu Sen, Managing Director & Chief Executive Officer, SBI Life Insurance Co Ltd
Innovation in Financial Planning Models with enhanced use of Technology by Mr Sumeet Vaid, Founder and Chief Executive Officer, Ffreedom Financial Planners
Role of Sub brokers / Franchisees in Distribution Network by Mr Jignesh Desai, Joint Managing Director, NJ India Invest Pvt Ltd
Mr R Mukundan, Deputy Chairman, CII Western Region delivering welcome remarks at the inaugural Plenary of the Financial Distribution Summit 2012.
Mr C Jayaram, Chairman-CII Financial Distribution Summit 2012 & Joint Managing Director, Kotak Mahindra Bank Ltd delivering The Summit & its Objectives at the inaugural Plenary of the Financial Distribution Summit 2012.
Ms Shinjini Kumar, Director-Tax & Regulatory Services, PricewaterhouseCoopers Pvt Ltd delivering Inside Perspective of Global and Indian Market at the inaugural Plenary of the Financial Distribution Summit 2012.
Mr Ranjeet Mudholkar, Vice Chairman & Chief Executive Officer, Financial Planning Standards Board India delivering concluding remarks at the inaugural Plenary of the Financial Distribution Summit 2012.
Moderator Mr Vivek law, Editor, Bloomberg UTV delivering welcome remarks at the Panel Discussion: ‘Key Regulatory Drivers for Financial Distribution Growth’ of the Financial Distribution Summit 2012.
Mr Sriram Taranikanti, Mr C Jayaram, Ms Shinjini Kumar, Mr Vikrant Gugnani and Mr Ranjeet Mudholkar at an panel discussion on “Key Regulatory Drivers for Financial Distribution Growth” at the Financial Distribution Summit 2012.
Key Regulatory Drivers for Financial Distribution Growth - An Open House Discussion
Moderator Mr Udayan Ray, Editor, Outlook Money delivering welcome address at the Plenary I: Panel Discussion: ‘Global View and Indian Perspective: On the Current Model of Advisory and Distribution in India’ of the Financial Distribution Summit 2012.
Mr Hemant Bhargava, Mr Jaideep Bhattacharya, Mr Rajiv Bajaj, Mr Royston Braganza, Mr Gaurav Burman, Mr Vishal Kapoor and Mr Rohit Bhuta at an panel discussion on “Global View and Indian Perspective: On the Current Model of Advisory and Distribution in India’” at the Financial Distribution Summit 2012.
Session Chairman Mr Rajiv Bajaj, Vice Chairman & Managing Director, Bajaj Capital Ltd delivering introductory remarks at the Plenary II: ‘Innovating the Distribution Channels’ of the Financial Distribution Summit 2012.
Bancassurance or Tied Agency-which is better? by Mr Atanu Sen, Managing Director & Chief Executive Officer, SBI Life Insurance Co. Ltd
Role of Sub brokers/Franchisees in Distribution Network - A Presentation by Mr Jignesh Desai, Joint Managing Director, NJ India Invest Pvt Ltd
Innovation in Financial Planning Model with enhanced use of Technology by Mr Sumeet Vaid, Founder and Chief Executive Officer, Ffreedom Financial Planners
Innovating the Distribution Channels - An Open House Discussion
Mr C Jayaram, Joint Managing Director, Kotak Mahindra Bank Ltd delivering summit wrap up at the Plenary II: ‘Innovating the Distribution Channels’ of the Financial Distribution Summit 2012.
 
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