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MUMBAI: UTI Mutual Fund, the Fund House with the largest number of investor accounts (As of September 2010, source: AMFI website) and CNBC?TV18, India?s No. 1 Business medium honoured the best financial advisors in the country at the fourth edition of the prestigious ?Financial Advisor Awards 2010? held in the city. Mr. M. D. Mallya, Chairman, Bank of Baroda was the Chief Guest at the awards who felicitated the winners.
?UTI Mutual Fund and CNBC?TV18 Financial Advisor Awards 2010? have honoured financial advisors who have set a benchmark by maximizing the investors? returns through sound advice. These are authoritative awards that recognize the potential of the nation?s best financial advisors and felicitate them for their unparalleled service and contribution.
Speaking on the occasion, Mr. M. D. Mallya, Chairman and Managing Director, Bank of Baroda said, "We are seeing India positioning itself into a sustainable growth mode. From the level of 6% GDP during 2002 to a level of 8.5% growth in 2010 and dreaming of taking the GDP growth to over 10% in the next couple of years, there has been a huge transition from what we were doing in the past to what India as a country is capable of doing. The key factors influencing India‘s transitional growth includes the improving demographics of the country, the reduced dependence in terms of proportion, the fundamental structural reforms which have been consistently introduced as far as the country is concerned, the improved efficiency in both private and public sector as far as the corporate is concerned and the enhanced pace of financial deepening which we have witnessed in the recent past. All these factors together have contributed to the strong financial system in the country and therefore from the level of an emerging economy, India now can be called as a mid-size economy with a capacity of outperforming China in the years to come. Resultantly, India‘s wealth creation rates have kept on increasing and therefore have witnessed a paradigm shift.?
Adding further, Mr. Mallya said, ?In India there is a need for sound financial advisors and wealth management services in the institutional investors segment, retail investors segment and the household investors segment that are a part of the country‘s developing economy. With an increase in new investors and their lack of ability to make informed decisions, both in short and long term investments, the role of financial advisors has become critical. Business channels like CNBC-TV18 who disseminate financial information also have an important role to play since they provide financial literacy to those individual retail investors who do not have adequate finance to pay a financial expert in order to make informed financial decisions.?
?I would like to compliment CNBC-TV18 for their initiative of recognizing the contribution made by the financial advisors and UTI Mutual Fund for supporting this initiative. A small beginning which began four years back, the Financial Advisor awards has gained momentum and respectability with an increase in the number of aspirants and overall applications for these awards. I congratulate the winners for the work they have carried forward."
Speaking on the initiative, Mr. Senthil Chengalvarayan, President and Editorial Director, CNBC-TV18 said, ?The year 2009 had been a year of recovery as well as a learning experience for investors. While investors guarded and weighed each investment decision, it was the prudent advice by the financial advisors that helped in restoring investor confidence. Financial Advisor Awards 2010 honours their role not only as financial advisors but also as conduits for long term sustainable wealth creation.?
Speaking on the occasion Mr U K Sinha, Chairman and Managing Director, UTI Asset Management Company Ltd. said ?There are professional services in this Country which have not received the recognition commensurate with their contribution to the society. Financial Advisory service is one such service. It has been in existence for decades and has shown maturity. It has played a stellar role in spreading the benefits of the growth of the Indian economy across the length and breadth of the Country. Instituting this award is a small step on part of UTI Mutual Fund and CNBC to acknowledge the role and the contribution made by the Financial Advisors. .?
Mr Jaideep Bhattacharya, Chief Marketing Officer, UTI AMC said, ?Financial Advisors play a critical role in the expansion of the Indian mutual fund industry. Financial Advisors Awards is recognition of their efforts to create long term wealth for their clients.?
