Amey Parab is the Business Head of Amey Investments, where he helps his clients achieve their financial goals through a range of investment and financial planning services. However, he faced challenges in identifying his clients’ insurance gaps and communicating the importance of insurance to them.
In this testimonial, Amey shares his experience of using the Employee Development and Management Toolkit (EDMT) by Sparrow’s Sprout.
Through his testimonial, Mr. Amey highlights the value of using EDMT to overcome common challenges faced by financial professionals and to provide better service to clients.
As the business head of Amey Investments, I manage a client base of 150+ clients, and one of my main challenges was identifying their insurance gap and explaining the importance of insurance to them. This made it difficult for me to close meetings related to insurance, and I knew I needed to find a solution to improve my client relationships and business performance.
Fortunately, I came across the Employee Development and Management Toolkit (EDMT) designed by Sparrow’s Sprout, which proved to be a paradigm-shifter for me. The toolkit includes various trackers, processes, procedures, and presentations, all of which help wealth management professionals to develop their skills and better manage their client relationships.
One tool from this toolkit that made a significant impact for me was the Risk Exposure Tracker. This tool enabled me to calculate my clients’ Human Life Value (HLV), identify their mediclaim gap, and determine the amount of life insurance they needed based on their HLV. This helped me understand my clients’ risk exposure and explain to them the importance of insurance in just 15 minutes. This was a remarkable improvement as it previously took much longer to close meetings related to insurance.
Using the Risk Exposure Tracker, I was able to close a 2cr worth of term insurance within just 15 minutes, which was a significant achievement for me. This tool helped me overcome my challenges and better serve my clients, ultimately improving my client relationships and business performance.
I highly recommend the Employee Development and Management Toolkit (EDMT) and the Risk Exposure Tracker to all wealth management professionals looking to develop their skills and better manage their client relationships. This toolkit helped me overcome my challenges and develop my skills, and I am confident it can do the same for others in the industry.
The Risk Exposure Tracker is an invaluable tool for wealth management professionals as it provides a comprehensive overview of a client’s financial risk exposure. It takes into account various factors such as age, dependents, loan liabilities, total investments, and savings, and uses this information to calculate a person’s Human Life Value (HLV), mediclaim gap, and the amount of life insurance they need based on their HLV.
The Risk Exposure Tracker is an excellent resource for wealth managers to help their clients understand their risk profile and the importance of insurance in mitigating financial risks. It also helps wealth managers to identify insurance gaps and present suitable insurance products to their clients. With the help of this tool, wealth management professionals like Amey Parab can quickly identify their clients’ insurance needs and provide them with tailored solutions that meet their unique requirements.
Overall, the Risk Exposure Tracker is an essential component of the Employee Development and Management Toolkit (EDMT) designed by Sparrow’s Sprout, and it helps wealth management professionals to develop their skills and better manage their client relationships.
To learn more about Sparrow’s Sprout and our Employee Development and Management Toolkit (EDMT), visit our website to discover how our tools and techniques can help you enhance your skills and better manage your client relationships in the wealth management industry.
