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Archive for the ‘Financial services’ Category

 

Go to any playground, classroom or backyard where young children gather and you will find a teacher or a parent trying to instill the importance of sharing. From toys to snacks, to our time and resources, we learn from a very early age that sharing is a virtue. It’s a fundamental childhood lesson designed to make us better people and better members of society.

 

Go to many boardrooms, office buildings and cubicles in the corporate world and, for the most part, you will find sharing is a lost art. People aren’t bad, but traditional corporate culture and systems fail to encourage real teamwork. Most people are out for themselves, trying to outshine and outdo one another for promotions and recognition in cutthroat competition that encourages confrontation rather than collaboration. The good of the company is a byproduct of this behavior, not the goal. There are teams in the corporate world; many of them are successful. But too many managers and team leaders take the credit for their team’s hard work – using “I” more often than “we” when describing success. And as the old saying goes, “There is no ‘I’ in teamwork.”

 

 I found this to be true in my own career. I first joined the working world in the real estate industry when I joined my father’s company. I was excited to work in a team environment and develop an exciting business in what I thought was a collaborative profession. Was I ever wrong. Each real estate broker was interested only in his or her own accomplishments; the success of the team wasn’t even a consideration.  Read more...

No matter how money savvy you are, financial and investment advice helps. It’s said that hard work hardly killed anybody, but when you’re above 60 and worn out with life-time of work, hard work might kill you. A well-planned retirement scheme could save you from money worries, even help you take a great vacation.

The Truth Revealed In Singapore

The shocking truth is that almost half of the young population, who is the corporate wealthy, hardly think of saving for retirement. Only eight percent of the money-endowed professionals are sure of meeting their goals. But, seven in ten of these fiery youths believe that they should start thinking about retirement planning. This is according to Zurich International Life that surveyed the professionals, residents, and expatriates of Singapore in the age group of 20′s and 30′s.

The people who were surveyed revealed that they need anything ranging from S0,000 to S million for a cozy retirement. Thanks to the extravagant lifestyle and extending lives, money requirement for investment planning is increasing like never before. If S million does not suffice for your retirement, you better get financial and investment advice fast!

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Again, most of the young professionals, no matter how influential they might be in the boardroom, still prefer to call their family or close friends for financial advice. Only a small chunk gets financial services to plan for their retirement and other benefits.  Read more...

Financial Inclusion has whetted the speed of development of banking industry in India. In order to face the bouts of non banking financial institusion, financial inclusion is being treated as an important weapon.The Committee On Financial Inclusion,2008,chairman,Dr. C. RANGARAJAN defined it as

“the process of ensuing access to financial services and timely and adequate credit where needed by vulnerable groups such as weaker section and low income groups at an affordable cost.”

Basically, it means that even lower strata of society with less disposable income should also have bank accounts, can get immediate credit as well as avail the benefits of financial advisory services.The people who have been covered for this are

underprivileged people in rural areas like farmers
underprivilaged people in urban areas like labourers,domestic help
unemployed
physically challenged

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Reserve Bank Of India, has taken a lot of measures to ensure that proper banking facilities is provided to all. It has started many such programmes like

Opening of RRB’s (regional rural banks)
Self help Groups
Cooperative movement
liberalised branch expansion
overdraft facilities even in savings account

But it lacks in proving to be a huge success because of lack of any proper business model,technology and poor delivery modes.In 2007, total accounts per 100 person stood at a meagre of 54 accounts!

If given due importance this will help in reducing the dependence of people on non-banking financial institutions and indigenous bankers.  Read more...

It may be the last frontier for offshore financial outsourcing; typically wary of risk and historically cushioned by solid margins, investment managers have historically eschewed offshoring of business processes as aggressively as their counterparts in the credit card or mortgage space. However, as operating models and financial structures change dramatically due to economic conditions, offshoring must, of necessity, become a strategic tool for asset managers to manage costs, transform service levels and support the development of differentiated offerings which can effectively compete in a global, highly competitive marketplace. But it will take readiness on behalf of two parties asset managers and providers to make the change.

It starts with a change of mindset for asset managers in a changing world

What are the implications of what is likely to constitute a “perfect storm” to drive the adoption of offshore outsourcing by the investment management industry? First and foremost, it will represent a huge challenge for the asset management community in terms of mindset change, operational readiness and commitment to execution. The extent to which asset managers, traditionally part of the financial services industry’s more conservative and risk averse class, are willing to adapt will affect the pace of adoption.

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Traditional business models will no longer be effective in an environment which is changing considerably. Firstly, there is a clear trend toward “globalization” with customers demanding a more international portfolio of assets and ever increasing interrelationships and linkages between international capital markets. For example, according to research by Oliver Wyman, fund flows into global and emerging market funds in the last 5 years have aggregated to over 0 billion, while there have been net outflows from US/Europe/Japan funds.  Read more...

Have you chosen your career yet? There are lots of options available these days. It is important to find out the area in which you have interest. You must always choose your profession by choice and not by compulsion. There are various industries present in our country.

Among these industries the financial industry is quite popular and lots of people show interest in this industry. The major reasons of people choosing this industry is the kind of work they offer and the salary they offer. Lots of people are known to take up financial careers these days.

But you must always remember that the financial jobs require the most responsible people on earth. In this job you have to deal with money and lots of planning and calculations. Just a year back the world witnessed a great turmoil in the economy.

After this phase managing finance has become very important for each and every country these days. To have a stable and healthy economy the country needs able, intelligent and honest employees in the field of finance. These days the industry chooses people who have a strong background in finance.

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So if you are interested in the financial service careers then you must start planning it earlier and take up courses that can help you have a good knowledge about this filed. You can search for the financial jobs on the internet.  Read more...