“Caliberated Tightening” – RBI’s new stance

The shift in RBI’s stance came, but not in the repo rate as most people were expecting today.The Monetary Policy Committee ( MPC) decided to change the stance from neutral to “calibrated tightening” of monetary policy, which in plain English means that rate cuts are probably off the table, and RBI can decide on when to raise or not raise rates depending on how fresh data comes in.

Whilst a 0.25% hike in the repo rate was the consensus view of the expected MPC action today, with some even expecting a 0.5% hike, the policy statement surprised markets – bonds positively, equities and the rupee negatively, with RBI choosing to do nothing, as MPC members voted 5:1 in favor of an unchanged repo rate at 6.50%. This was also probably driven by the fact that there have been two consecutive rate hikes in the last two MPC meetings.

They stuck with their primary mandate i.e. controlling inflation, with the objective to achieve medium term target for CPI inflation of 4 percent within the range of +/- 2%, while supporting growth.

Since the last MPC meet in August 2018, the Indian basket of crude oil has increased sharply by US$ 13 a barrel, whilst global economic activity has been able to withstand ongoing trade tensions thus far. Food inflation has remained unusually weak, which imparts a downward bias to its trajectory in the second half of the year. The risk to the food inflation from a 9% deficit in the monsoon, is also probably mitigated by higher production of major kharif crops for 2018-19 than last year’s record. An estimate of the impact of an increase in minimum support prices (MSPs) announced in July has been factored in the baseline projections.

The projected inflation in Q2:2018-19 is at 4%, 3.9%-4.5% in the second half and 4.8% in Q1:2019-20 with risks on the upside, which were lower than earlier estimates.

With risks broadly balanced GDP growth projection for 2018-2019 was lowered at 7.4% against 7.5 % in August due to strong base effect.Private consumption has remained strong and is likely to be sustained even as the recent rise in oil prices may have a bearing on disposable incomes. However, both global and domestic financial conditions have tightened, which may dampen investment activity. Rising crude oil prices and other input costs may also drag down investment activity by denting profit margins of corporates. This adverse impact will be alleviated to the extent corporates are able to pass on increases in their input costs. Uncertainty surrounds the outlook for exports. The recent rupee depreciating could be negated by slowing down of global trade and the escalating tariff wars.

Global headwinds in the form of escalating trade tensions, volatile and rising oil prices, and tightening of global financial conditions therefore pose substantial risks to the growth and inflation outlook.

Your Investments

As we see change in stance from neutral to calibrating tightening signals that rate cuts are off the table. Concerns seem to be around crude oil prices, global interest rates and the ongoing global developments on the trade front. Equities continue to trade at a premium and whilst it may be very tempting to buy lumpsums as equities have fallen substantially, equity valuations in India continue to be elevated vis a vis long term averages. A gradual entry strategy or a continued SIP/STP strategy is most suited to the current market scenario. It may be a good idea to add fixed income exposure through a combination of largely ultra short term, short and medium term strategies focused on high credit quality portfolios, to avoid any spillover of the continuing bad loan cycle on your investments.

Your Loans

After hiking the repo rate twice in a row, the Reserve Bank of India (RBI) has kept the key policy rates unchanged. However, the central bank has changed its stance on the key policy rates to ‘calibrated tightening’. This indicates that RBI is of the view that there is upward pressure on interest rates which means your EMIs are likely to continue ti go up. Expect banks to raise rates gradually even though RBI kept rates constant today.

Way forward

The next policy is due on December 5, but don’t be surprised for mid course corrections if the data so warrants. Ultimately that’s what caliberated tightening probably alludes to.

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How to plan your finances if you have an irregular income?

Listen up professionals and start-up owners!

Every individual has a passion and a dream. Many wish to break free from their mundane work life to pursue their passions. However, it can be difficult to break the shackles of comfort and security that a well paying job offers and venture into unchartered territory that your dream might lead you to. For those who manage to do so, we tip our hats to you and offer these words of advice.

 

Being a business ourselves, we understand the trials and tribulations that a professional or a start-up founder goes through. The fact is that it can take a while before you break even and start drawing an income. Even the revenues generated can be irregular so how do you manage your personal finances and ensure neither your nor your family’s dreams are compromised.

 

1. Know your expenses– With a job that gives you a fat paycheck your lifestyle expenses are bound to be high. Now with an irregular salary keeping up with the same expenses will get challenging. You and your family should be prepared to adapt to your new financial situation and trim down your expenses wherever possible. It might make sense to set up a SWP (Systematic Withdrawal Plan) that provides the necessary income and help you stick to a budget without going bust.
2. Keep those SIPS going through the good and the bad days-As the case is with most businesses, the revenues are not steady. There will be times when the business would have done well and the receivables have also come in and then there would be not such great times. With such irregular and unsteady income how do you manage to keep your family’s dreams alive. The Key is to invest the surplus in a liquid fund which will then systematically transfer the money on a regular basis in an equity fund. This will ensure that you keep saving and investing towards your future goals unhindered by the ups and downs of your business.
3. Insurance, your protection shield– The job of a life insurance policy is to not only provide for your family in case of an unforeseen event, it is supposed to also cover your outstanding loans and the financial goals such as kid’s higher education, comfortable life for your dependents etc. So ensure you have taken a cover large enough to meet your family’s needs. A simple term plan will do the needful.
4. Health is wealth– With the medical inflation rising at 10-15% annually, the importance of a medical insurance can not be stressed enough. Health is indeed wealth but you don’t want to lose your wealth due to any illness or accidents. You might also want to consider taking an accidental and critical illness policy as a safe guard measure along with a regular medical cover.
5. Contingency fund- This fund should be large enough to cover your 6-8 months expenses. Since you do not have a regular income, it is optimum to consider expenses over a longer period. You could even consider including your SIPs amounts for those many months, this will ensure your goals are right on track and are not hampered by the volatility in your income.
6. Keep personal and business expenses separate– This is the most important advice as it is very easy for the business expenses to spill over and be paid for from your family kitty. This is especially possible if you use the same credit card for both personal and business use. This can further stress your family budget over time.

With an irregular income it becomes essential to plan and channelize your money to ensure your family is well secured financially and their goals and dreams have wings. You might want to consult a financial planner to see how to fund your family goals if you choose to launch your start-up.

 

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Simple strategies to meet your cash flow needs after retirement

India is a saver’s economy. During the working years sacrifices are made for the benefit of the  family and retirement is keenly looked forward to. Advertisements of retirement products paint a picture of a comfortable retirement by the sea and that your life could be one happy vacation. However, in our experience as and when individuals start approaching their retirement they start to dread it. Questions such as are they well prepared for retirement, have they saved enough, and biggest dilemma faced is  where to invest this large sum of money in order to get a regular cash flow to become financially independent. What do you do to actually turn your retirement into one big happy vacation?

Effective cash flow management is the key to a successful retirement. The magic lies in creating a strategy that generates a regular inflation adjusted income for you and your surviving spouse, lasts you a life time and offers liquidity.

Strategy 1: Create a regular income stream

Every individual wants to be financially self sufficient. In the absence of a joint family, being financially independent is not a desire but a must have in your golden years. If you need money for your day to day expenses, then getting a payout once in 3 or 6 months doesn’t help. A lot of retirees rely on dividend income either from stocks or their mutual funds. This is a huge mistake which becomes evident with time when the steady income from salary has stopped completely. Receiving a dividend from your investments when you have a  salary feels great because it provides an additional income. What most people don’t realize is that the dividend is actually paid out at irregular intervals and the amount is also inconsistent. Similarly, the interest payout from your corporate FD might be on a quarterly basis or twice a year and now locked in until maturity.

How to execute this strategy?

To be financially independent at all times you have to ensure you have created multiple income streams and timed the out flow to suit your requirement. If you need to pay salaries and bills towards the start of the month, then set the payout around that time. Opt for monthly interest payout from FDs and set up a Systematic Withdrawal Plan (SWP) from your Mutual Fund investments on a monthly or bimonthly basis. This way you will know exactly when your next payout will happen and manage your expenses and bill settlements better. You will also be more in control of your finances rather than being helpless because of a bad strategy which can now not be easily changed.

Strategy 2: Generate an inflation adjusted income

Thanks to the increase in programs aimed towards investor education, many individuals understand and are aware of the impact of inflation on their income and wealth. The income that you receive should be able to beat inflation and help you live your life comfortably and on your terms. The current consumer inflation rate is at 4.17% however, it is essential to consider your lifestyle inflation which rises faster than food inflation. It would be wise to adjust your income against an inflation of 7-8%. The income that would have sufficed today will not manage to cover the same expenses next year due to inflation. On a yearly basis, you will notice that your bills are rising, so will the salary of your staff.

How to execute this strategy?

The interest income coming from your Fixed Deposits will not be able to implement this strategy since the returns are fixed and the amount is locked until maturity. You would not have the option to choose a higher payout even at the cost of wealth depletion.

This strategy can only to executed through a Systematic withdrawal Plan (SWP). With an SWP you have the option to increase or decrease the amount that is withdrawn from the investment. For eg. If your cash flow requirement is Rs 25000/month for the 1^st year, then with a Systematic withdrawal Plan you have the flexibility to adjust the payout by increasing it to Rs 27000/month which would be inflation adjusted. This way you can increase the payout from your debt funds using SWP strategy.

Strategy 3: Avoid excess liquidity as a part of contingency planning

Most senior citizens seek comfort in keeping large amounts of cash lying in their bank accounts. This they say is for emergencies and contingencies in case they need a lot of cash all of a sudden. Assume you have Rs 50 lakhs for your retirement corpus out of which if  5-10 lakhs are kept in your bank account for comfort then this is a very expensive way to deal with emergencies. With high inflation and increasing life expectancy, one can not afford to keep 10-20% of their wealth idle. At your age you will need every cent and penny to work as hard as it can.

How to manage liquidity?

If you have parked a large sum in your bank account, the reason has  less to do with emergencies and more to do with liquidity. With most of your money parked in illiquid assets like bonds, fixed deposits or real estate how do you get your money if a need arises. Liquid debt mutual funds are a perfect option since they provide both higher returns and offer liquidity. Liquid funds can generate a return of up to 6.5% and are highly liquid as the name suggests. You can redeem your units from a liquid any time and encash your money. You will receive your money in your bank account the next day.

Strategy 4: Plan your cash flow to avoid wealth depletion during your lifetime

With the advancement in medical sciences the average life expectancy in India has risen to be around 85 years. There is also a risk that both you and your spouse might outlive your life expectancy and live longer than what you had accounted for. This poses a threat to your financial independence as there is a possibility of your wealth getting depleted while you both are still alive. It therefore becomes important to invest your money in such a way that your portfolio can provide a steady cash flow not just for you but for your surviving spouse too and a little over your assumed life expectancy.

How to make this strategy work without compromising on your dreams?

As a retired person wealth preservation is of utmost importance however, if inflation and longevity poses a threat to your wealth and goals then you have to go beyond your comfort zone and add more growth assets in your portfolio. However, if there is a gap between the income that your portfolio can generate and your needs, then instead of taking excess equity exposure it is advisable to taper your expenses instead.

An expert financial planner will be able to execute and implement this strategy for you by creating a realistic portfolio which meets your income expectation and risk profile. A combination of debt and equity mutual funds should do the magic.

The secret to a successful retirement is a little bit of planning which can go a long way to turn your retirement into a happy vacation.

 

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Twice in a row, inflationary pressures show

Today marked the 3rd Bi-Monthly policy statement by the RBI for the FY 2018-19 with members voting 5-1 in favor of a rate hike.

This was largely in line with market expectations and was already priced in, as post the release of the minutes of the monetary policy bond yields did not move much in either direction.

However, the MPC also continued to maintain a neutral stance, indicating that it is trying to play a delicate balance between inflation and growth, and decisions are being taken with the objective of achieving the medium term target for CPI at 4% within the range of +/- 2% and future data prints

The MPC mentioned that domestically various indicators suggest that economic activity has continued to be strong. Significant turn around in the production of capital goods and consumer durables, Progressive monsoon and increase in MSPs of Kharif crops are expected to boost rural demand by rising farmer’s income. Vehicle sales augur well for urban income growth.

Retail inflation i.e. CPI grew to 5% in June from 4.9% in May, driven by an uptick in inflation in fuel. Food inflation remained muted due to lower than usual seasonal uptick in prices of fruits and vegetables in summer months. Adjusting for the estimated impact of the 7th central pay commission’s house rent allowances (HRA), headline inflation increased from 4.5 per cent in May to 4.6 per cent in June. Low inflation continued in cereals, meat, milk, oil, spices and non-alcoholic beverages, and pulses and sugar prices remained in deflation. Factors mentioned above have resulted marginally downward revision in inflation projections for Q2 vis-à-vis the June statement. However, projections for Q3 onwards remain broadly unchanged on account of uptick of 20 bps in inflation expectation for 3 months and 1 year ahead horizon survey of households by RBI’s. RBI’s industrial outlook survey also reported higher input costs and selling prices in Quarter 1 of 2018-19. Input cost of companies polled in services PMI in June also stayed elevated. Farm and non farm input costs rose significantly in June.

The central government has decided to fix the minimum support prices (MSPs) of at least 150 per cent of the cost of production for all kharif crops for the sowing season of 2018-19. This increase in MSPs for kharif crops, which is much larger than the average increase seen in the past few years, will have a direct impact on food inflation and possible secondary impacts on headline inflation. Uncertainty around the full impact of MSP on inflation will only resolve in the next several months once the price support schemes are implemented and procurement by the government is visible.

Based on an assessment of the above-mentioned factors, inflation is projected at 4.6 per cent in Q2, 4.8 per cent in H2 of 2018-19 and 5.0 per cent in Q1:2019-20, with risks evenly balanced. Excluding the HRA impact, CPI inflation is projected at 4.4 per cent in Q2, 4.7-4.8 per cent in H2 and 5.0 per cent in Q1:2019-20.

The MPC notes that domestic economic activity has continued to sustain momentum and the output gap has virtually closed. However, uncertainty around domestic inflation needs to be carefully monitored in the coming months. In addition, recent global developments raise some concerns. Rising trade protectionism poses a grave risk to near-term and long-term global growth prospects by adversely impacting investment, disrupting global supply chains and hampering productivity. Geopolitical tensions and elevated oil prices continue to be the other sources of risk to global growth. On account of these risks, RBI governor stated that by keeping the neutral stance, the Monetary Policy Committee have kept the option of further rate increase or decrease open and dependent on future data.

With an election year upon us and possible fiscal risks emanating, along with global outflows on the back of higher US interest rates and a falling rupee, this may not be the last of the rate hikes in our view.

Your Investments

Financial markets have continued to be volatile and driven mainly by monetary policy stances in advanced and emerging economies and geopolitical tensions. Globally, equity markets have been volatile on trade tensions and uncertainty around Brexit negotiations. However, it also important that public finances do not crowd out private sector investment activity at this crucial juncture.

Capital flows to Emerging Economies declined in anticipation of monetary policy tightening in Advanced Economies. Also currency of Emerging economies have depreciated against the US dollar over the last month on account of strong USD supported by strong economic data.

Equities continue to remain overpriced from a price to earnings perspective in spite of recent corrections and a better growth outlook. However, good results so far by many companies, along with good growth expectations and better capacity utilisation bode well for earnings growth going forward.

Real rates continue to remain positive.The rising G-sec yield makes dynamic bonds and long term bond funds unattractive and the exposure to the same should be minimized. Bonds with a shorter duration of 3 months to 2 years are ideal in the given scenario. We therefore, continue to believe that investors should continue to have fixed income exposure through a combination of lower duration and short term strategies.

Your Loans

With an increase of 25 basis points by the RBI, the deposit rate of the banks could further increase which would be followed by lending rate hikes. Thus we suggest looking at prepaying or raising EMI amounts on your loans to negate the interest rate hike and future hikes that could follow.

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What are Fixed Maturity Plans (FMPs) and who should invest in them?

Fixed Maturity Plans are a category of debt mutual funds that are currently attracting the attention of Ultra HNI and retail investors alike. With the debt market looking fragile and the 10 year Gsec yield on a back breaking spree, are FMPs the next alternative investment solutions that can save the investors from interest rate risk? Are FMPs for you, read to find out.

Fixed Maturity Plan or FMPs are close ended debt mutual funds that have a fixed maturity period. The AMC launches a New Fund Offer (NFO) and inviting subscription to scheme. Unlike an open ended scheme which stays open for subscription all the time, a FMP remains open for a limited period. The NFO will have a launch date and a closing date till when an investor can subscribe to the fund and after it’s maturity the fund ceases to exist. In the interim, an investor can trade the FMP on the stock exchange.

Where do FMPs invest and what are the indicative returns?

Being a debt fund, FMPs invest in debt securities like corporate and government of India (GOI) bonds, Non Convertible Debentures (NCD), and liquid instruments like T-bills, Repo, Corporate Deposits (CD) and Commercial Papers (CP), based on the market yield and the scheme’s investment objective, an FMP could invest in AAA to A+ rated securities with varying credit risk.

With the 10 year G-sec yields having crossed 7.9% mark, the bond yields too have surged. Now a portfolio of high quality of AAA rated securities can easily give a return in the range of 7.7-8.4% thus making them very attractive.

What is the maturity of an FMP?

The maturity of an FMP is similar to the maturity of its underlying assets. Since the FMP exists for a fixed period which is defined during the subscription of the NFO, it invests in debt securities with similar maturities such that they mature on or before it’s maturity date.

Eg: If the Fund has the maturity period of 1110 days then it will pick instruments that will mature on or before 3 years.

The fund manager of a close ended FMP follows a passive investment strategy where in they buy and then hold securities until they mature. Therefore there is minimum churning unlike in a open ended fund where the fund manager churns the portfolio more regularly based on his strategy and market outlook.

This helps an FMP keep its expenses lower.

How are they taxed?

Most FMPs have a maturity of 3 or 5 years. Being a debt fund, the biggest advantage of investing in a FMP is the indexation benefit that an investor receives after completing 3 years.

Although it is similar to a Fixed Deposit, the tax benefit that an investor earns makes an FMP triumph over any FD or NCDs.

Assume you had invested Rs 10 lakhs in a FD and FMP with the maturity of 5 years. Even though return generated by an FMP is higher, to level the playing field lets consider both had generated a return of 8%.

As you can see from the table above, you can potentially save Rs 1 Lakh in taxes by investing in an FMP. Even for an investor in 20% tax bracket, the post tax corpus earned from an FD would be significantly higher than a bank FD.

What are the drawbacks of an FMP?

Being a close ended fund an investor can’t redeem the units until the FMP matures. However, the investor does have an option of early exit through a stock exchange. For this the SEBI has mandated the FMPs to be listed on the stock exchange. The problem is that there is little demand for them in the secondary market and even when there is a buyer the price offered is lower than its NAV.

So an investor must subscribe to an FMP with an intention to keep their money locked-in for the duration of the fund and with the knowledge that this money would not be needed in the interim.

Also the indexation benefit can be enjoyed only if the debt fund investment has been held for 3 years, so it would be ideal to pick FMP with a maturity of at least 1100 days which is just a few days over 3 years.

 

Who should invest in a FMP?

Unlike a debt fund, an FMP is insulated from the interest rate volatility since the fund manager buys and holds the securities until maturity. Thus the returns of the FMP are less impacted by the price fluctuations triggered by the swinging interest rates of the market.

Therefore, HNI, ultra HNI in the highest tax bracket, retail investors and even senior citizens can benefit from investing in an FMP as the yields offered are competitive and the capital gains are taxed with indexation benefit making FMPs a very attractive investment solution in the tumultuous and uncertain interest rate scenario.

 

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6-0 verdict by MPC, interest rates hiked

Today marked the second and much awaited Bi-Monthly policy statement by the RBI for the new FY 2018-19.

In line with what bond markets expected, the Monetary Policy Committee (MPC) delivered a 6-0 verdict on an interest rate hike by 0.25%. The was largely in line with market expectations post the release of the minutes of the last meeting and thus the bond market had only a marginal impact of this change.

However, the MPC also continued to maintain a neutral stance, indicating that it is trying to play a delicate balance between inflation and growth, and decisions are being taken basis news flow and fresh data coming in.

The MPC noted that domestic economic activity has exhibited a sustained revival in recent quarters and the output gap has almost closed. Investment activity, in particular, is recovering well and could receive a further boost from swift resolution of distressed sectors of the economy under the Insolvency and Bankruptcy Code. This is in general good news for the economy.

Retail inflation i.e. CPI grew to 4.6% in April. The decision to raise rates is therefore in line with the objective of keeping the medium term inflation at 4% i.e. well within the 2-6% range.

Since the MPC’s meeting in early April, the price of Indian basket of crude surged from US$ 66 a barrel to US$ 74. This, along with an increase in other global commodity prices and recent global financial market developments, has resulted in a firming up of input cost pressure thus persisting in a high CPI inflation projection for 2018-19. On the other hand the summer momentum in vegetable prices was weaker than the usual pattern softening the food inflation in the short term, though this has been more than negated by the changes in oil prices. Household inflation expectations have also moved up sharply and  pricing power seems to be on its way up as well.

Taking these effects into account, the projected CPI inflation for 2018-19 is revised to 4.8-4.9 per cent in H1 and 4.7 per cent in H2, including the HRA impact. Excluding the impact of HRA revisions, CPI inflation is projected at 4.6 per cent in H1 and 4.7 per cent in H2.

Crude oil prices have been volatile recently and since consumption, both rural and urban, remains healthy and is expected to strengthen further, all this imparts considerable uncertainty to the inflation outlook, possibly on the upside. With an election year upon us and possible fiscal risks emanating, along with global outflows on the back of higher US interest rates and a falling rupee, this may not be the last of the rate hikes in our view.

Your Investments

Geo-political risks, global financial market volatility and the threat of trade protectionism pose headwinds to the domestic recovery. However, it also important that public finances do not crowd out private sector investment activity at this crucial juncture.

In most Emerging Market Economies (EMEs), bond yields have risen on reduced foreign appetite for their debt due to growing dollar shortage in the global market and on prospects of higher interest rates in Advanced Economies.

Equities continue to remain overpriced from a price to earnings perspective in spite of recent corrections and a better growth outlook. However, signs of improved demand and pricing power for companies, along with good growth expectations and better capacity utilisation,  bode well for earnings growth going forward. Corrections into equities could therefore be bought into.

Real rates continue to remain positive.The rising G-sec yield makes dynamic bonds and long term bond funds unattractive and the exposure to the same should be minimized. Bonds with a shorter duration of 3 months to 2 years are ideal in the given scenario. We therefore, continue to believe that investors should continue to have fixed income exposure through a combination of lower duration and short term strategies.

Your Loans

Even before the RBI meet, the banks had begun hiking both their lending and borrowing rates. This rise in lending rates was brought about by the rapid increase in bond yields and increased loan demand, especially in private banks.

With an increase of 25 basis points by the RBI, the deposit rate of the banks could further increase which would be followed by lending rate hikes. Thus look at prepaying your loans with excess liquidity.

A 6-0 verdict is therefore a clear indicator that inflation targeting continues to be the MPCs primary role, and a conservative stance will probably give foreign investors a more positive view on India.

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HR Consultants – can you plan your own finances?

Consultancy is the new age choice of profession. And being a consultant is right there amongst the top dream jobs!

One of the most upcoming fields in this professional niche is in the sector of Human Resources. Consultants in this sphere are referred to as Human Resource Business Partners.

A Human Resource Business Partner goes beyond the regular functions of the organization’s HR team. As such, HR Business Partners generally tend to be very busy as they handle important head hunting and hiring mandates. With bigger mandates and responsibilities comes a much nicer pay package alas with no time to look at personal finances!

But like all professionals, Personal Financial Planning should infact be at the top of the priority list. Why you ask? Let’s delve into the reasons.

Time Restraint: Like all consultants are occupied 24/7, a HR Business Partner is always vying for personal time. And when they do find some, the last thing on their mind is personal financial matters. In the catch up for personal things to get done, personal finances are a low priority. Yet should it not be the complete opposite of this? The importance of financial planning is not just related to finding out how much to invest and where. Financial planning and giving a structure to overall finances is aimed to attain peace in the thought that despite all other commitments, you are working towards insuring that financially your dreams and aspirations will be taken care of. And that is a great source of calm for a person constantly on the move.

Contract based Income: As a consultant, you are a contractual worker in essence. In other words, you are in receipt of the handsome income only as long as you manage to keep the contracts alive. Shouldn’t simple logic dictate your actions that this hard earned should be channelized for situations when no contract is available? Or in layman’s terms, creating a Contingency Fund for those truly lull periods in the industry. Wouldn’t you want to make this hard earned money work as hard as you so that your dreams of an early retirement or that fancy foreign holiday come true?

Insurance: While you may have already thought of the regular health and life insurance policies, what is worth considering are additional risk covers in terms of Personal Accident and Critical Illness Policies. These provide features which help augment income in case you cannot report in to work due to major accidents. In addition insurance that is worth considering for senior HR Business partners or top executives of HR Consulting firms is the Keyman Insurance Policies. (More on all these in the subsequent posts.)

What is it that you truly fancy doing with your hard earned monies that you worked so relentlessly for? Would it not be nice to know that your efforts can be enough to fulfil your life dreams? Most likely your answer would be a resounding YES! So then, what is stopping you? Mere inertia? An inherent fear of doing something wrong that can’t be taken back? Lack of knowledge on how to go forward? The questions are many.

And yet, the solution might be as simple as the professional choice that you have made for yourself. Why not consult an expert consultant from the financial advisory field? It is after all why you are hired right? So why the hesistance in doing the same thing for your personal benefit.

As fellow consultants and advisors we believe, like you, that specialization leads to credibility and expertise. And like consultants, we understand that trust is only gained through repeatedly providing sound and quality advice. Being credible and trustworthy is essential, more so in matters of personal finance.

Having a word with a Financial Advisor to make certain your hard earned wealth is doing the right thing may be a good idea and most certainly worth your coveted personal time.

Till then…continue the good job of quality consulting!

 

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