Date: 14th December, 2024
Venue: LLIM, Mumbai
Time: 10:00 am to 5:00 pm
A one day National Seminar in association with BSE Investor Protection Fund and Wise Trader Academy was conducted on the topic “Smart Money Moves: Mastering Personal Finance and Wealth Management” in LLIM Auditorium from 10:00 am to 5:00 pm. Approximately 200 participants including students and faculty members attended the event.
The day started with welcoming the guests by the LLIM Director- Dr. H.J. Bhasin. Dr. Kamalji Gupta- Chairman of, Governing Council, conveyed his best wishes for the Seminar.
Mr. Kiran Patil, Manager at BSE Investor Protection Fund was the first speaker. In his address, he explained financial literacy. A key component of financial literacy is setting and working towards both short-term and long-term financial goals. He also explained limit unnecessary expenses, he discussed the importance of SIP, even enlighten with SIP calculator. He even explained not to use unregulated apps, fake video, and free Wi-Fi phone hack and pump n dump…. Social media.
The second speaker, Mr.Mahir Shah, senior manager and strategy analyst OMNISCIENCE Capital Advisor Ltd. He started his session with Asset Allocation. He explained traditional options of equity, Debt, Real Estate and commodities VS Innovation E-nablers.
The third session commenced with Mr. Saurabh Khanna, MCX; explaining Tax planning, wealth management, financial planning, retirement planning and estate planning. He even discussed the importance of fundamental analysis, importance of investing in commodities.
The last speaker Ms. Devika Kakar, Senior Investment Analyst- Niraga Capital Pvt.Ltd, explained Investment banking buy and sell side. The buy side refers to firms or individuals that purchase securities for their own portfolios or on behalf of clients, like institutional investors or high-net-worth individuals. These firms are typically investment managers, hedge funds, private equity firms, mutual funds, and pension funds. The sell side refers to firms and professionals that facilitate the sale of securities. These include investment banks, brokers, and dealers that help companies and governments raise capital or sell their assets. The focus is on creating, selling, and distributing financial products, and advising clients on the buying and selling of securities.
The key takeaways from all these sessions were:
1. Diversification: The importance of diversifying investments across different asset classes like stocks, bonds, mutual funds, and real estate to mitigate risk.
- Long–Term vs. Short-Term Investments: Balancing between investments with quick returns versus those designed to grow wealth over time (e.g., retirement funds, stocks).
- Understanding Risk Tolerance: Tailoring investment choices based on personal risk tolerance, age, financial goals, and market conditions.
- Mindset and Emotions: Understanding how emotions like fear and greed can drive financial decisions, and how to make informed, rational choices even in volatile markets.
- Financial Discipline: The role of self-control and patience in wealth-building, especially when market fluctuations occur.
By the end of the seminar, participants would likely have a better understanding of how to take control of their financial destiny, invest smartly, and prepare for a prosperous future through a combination of strategic planning, informed decision-making, and disciplined financial habits.