In today’s world, taking risks and making smart investments is the key to success. The same applies to the domain of wealth management, where traditional saving instruments are no longer sufficient to achieve financial goals. To excel in this field, one must have the ability to transform into a risk-taker, and the role of a wealth manager becomes crucial. But how does one succeed as a wealth manager in India, and what job opportunities are available in this field? To answer these questions, the Pagalguy team recently interviewed Saikat Bose, the Deputy Vice President and Product Head – Investments at Bandhan Bank, who has made a name for himself in the wealth management field; here are a few glimpse of that conversation.
The Initial Days
Saikat Bose, a prominent figure in the wealth management field, hails from Rourkela, a small town where he spent his formative years. He pursued his undergraduate studies in Kolkata before completing his MBA at IMI Delhi. During Saikat’s early career, wealth management was not well-known, and banking focused on face-to-face customer interaction. As every bank aspired to enter the wealth management domain, the field was full of unexplored opportunities. With traditional savings instruments offering diminishing returns, the emphasis shifted towards an investment mindset. Saikat’s desire to work in a customer-facing role led him to venture into the world of wealth management, which proved to be an excellent career choice.
Regular Workday
Saikat Bose currently holds a leadership position in the wealth management field, where he is responsible for overseeing investment products and developing distribution channels. He is also involved in creating and managing portfolios, as well as conducting extensive research to ensure that all decisions align with his clients’ needs and preferences.
In this role, Saikat plays a crucial role in guiding clients in their investment decisions. He has to keep himself up to date with the latest trends and economic developments and stay ahead of the curve with new and innovative investment strategies. Furthermore, he has to have a keen eye for detail to ensure that his clients’ portfolios are well-diversified and aligned with their goals and risk tolerance.
Saikat’s extensive experience in wealth management, combined with his expertise in research and analysis, allows him to provide tailored advice to his clients, which can help them to achieve their financial goals. He understands that each client is unique, with different financial goals, risk tolerance, and investment preferences, and he uses this knowledge to build customised portfolios that meet their specific needs.
Lessons along the Way
In his career journey, Saikat has learned two crucial lessons. The first one is the significance of trust. According to him, trust is the most important currency one can possess. It is not about how much you sell but rather how much you gain from your customers. He stresses the importance of being there for customers during difficult times and standing by them. The second lesson that he emphasises is the value of thinking long-term. He advises the younger aspiring wealth managers to plan their personal and professional lives with a long-term perspective, as short-term solutions often are less helpful in the grand scheme.
Advice to Young Gen
A valuable piece of advice that he offers to the present generation is to prioritize investing in relationships. He is convinced that, eventually, these relationships will help establish industry connections that provide industry insights and facilitate the cracking of significant client or partnership deals. Therefore, while navigating the corporate world, it is important to consider your interests and the ecosystem you inhabit by connecting with colleagues, peers, and individuals in your community. By fostering these relationships, you can significantly enhance your career prospects.
Time with PaGaLGuY
Saikat has been a member of the Pagalguy community since 2004
“What stands out to me most about Pagalguy is the opportunity it provides to connect with peers. Whenever I attended college fests or events at business schools throughout India, I was always accompanied by a group of familiar faces, thanks to the PG network. As a business school representative, I particularly enjoyed visiting campuses and encountering at least ten people I know through the platform. Pagalguy has played a crucial role in my success in wealth management.” he said.
Saikat’s Advice for Pagalguy Users
- Have a precise understanding of your objectives and what you want to achieve through Pagalguy.
- Never hesitate to ask questions, as there is no such thing as a stupid question.
- Be open to offering assistance and provide unbiased responses to those seeking help.
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