1.

It takes seasoned expertise and perfect execution to successfully navigate how to market a
financial services firm. This results in effectively resonating with target audiences, delivering
good ROI, and assisting financial services organisations in achieving their business goals.
Financial marketing: What is it? the distinctive fusion of reputation management for financial
services companies, content marketing, brand communications, PR tactics for financial firms,
and strategic communications. As a financial services marketing firm, Communications
Strategy Group (CSG) works with a variety of financial services clients as a trusted partner
and strategic advisor, staying abreast of market developments, cultivating connections with
important reporters and influencers, and having a firm grasp on how to influence key
decision-makers.
What is financial services online marketing? Effective financial services marketing depends
on the creation of high-quality content that cuts through the clutter and produces
measurable outcomes in a market that is flooded with rival marketing materials and thought
leadership. The best way to promote a provider of financial services depends on the
objectives of each individual corporation. The marketing of financial services necessitates a
thorough, individualised approach that ties brand identity and mission to your specific
stakeholders' goals and opportunities, from thought leadership, such as bylined articles,
story placements, and speaking opportunities, to influencer and media relationships and
placements.
Financial services, one of the oldest sectors in the world, must compete with a fast
expanding market and provide the types of enhanced and customised digital experiences
that customers demand. Consumers of financial services prefer to transact with reputable
financial institutions. Establishing a distinctive corporate culture, creating new and useful
digital experiences, and supporting industry thought leadership are the keys to earning
respect and authority. Financial customers are increasingly looking to interact with
businesses that provide outstanding digital experiences and convenience. Your target
audiences can be reached with the correct marketing message. Financial services brands
must continue to optimise the end-to-end user experience to be competitive and satisfy
consumers' expanding expectations. This includes better messaging, UX, and technology.
A winning marketing strategy involves using data to introduce new services to existing
clients and make pertinent recommendations to them. It is crucial to comprehend how a
user's experience varies from one touchpoint to another in order to improve the customer
journey and guarantee that customers can obtain what they need when they need it. We
use inventiveness and flawless execution to generate measurable business results, whether
we're launching a branded content studio at Money 20/20 as part of an integrated content
marketing campaign, building brand recognition for Janus Henderson Investors, launching
the first actively managed exchange-traded fund (ETF) and increasing assets under
management (AUM), or routinely securing top-tier media coverage as part of an ongoing PR
strategy for a personal finance product.
Wide-ranging changes in the financial services industry in recent years, such as disruptive
technologies, strict laws, and changing client relationships, have made it difficult to plan how
to promote a financial services organisation. More players now have opportunity to enter
the financial services industry thanks to the digital age. With more businesses offering the
same products and services, there may be less incentive for customers to stay brand loyal as
a result of greater competition. Consumer trust difficulties in the financial services sector
have gotten worse over time, making it more challenging for marketers to establish a
genuine connection with their audience. Despite the fact that personalised ad campaigns
may be distributed more easily by brands with the help of automated marketing, the
financial services sector has been slow to adopt this strategy because of internal and
compliance issues as well as leadership resistance. Selling an idea rather than a physical
commodity is frequently a tough aspect of the art of marketing financial products. When
there are no guarantees, it might be challenging to sell potential future outcomes.
Regulations must always be brought up when discussing the marketing of financial services.
There are severe restrictions on what financial advertisements may and may not contain.
These constraints may hinder innovation and force financial marketers to rely on tried-and-
true strategies that they are aware follow legal requirements, a tactic that ignores changing
consumer expectations.
The development of traditional and digital marketing strategies for financial services should
take into account a variety of personalised factors, including target markets, new and
emerging markets, available resources, and your organization's specific goals, objectives,
strengths, and weaknesses. One of the earliest, simplest, and most efficient marketing
techniques used by banks and other financial institutions is customer outreach. Reaching out
to customers requires addressing their requirements for information, resources, and
awareness. Free consultations, seminars, eBooks, and financial education programmes could
all be results of customer outreach. It's no secret that our world is becoming more and more
digital. It is essential to provide clients with digitally seamless access to your company's
customer service and experience portals, as well as digitised financial products. A key
component of your company's entire digital marketing plan is social media. Results-driven
social media is a long-term approach that helps your company create trust, take advantage
of marketing opportunities, and expand and nurture your client base. It may be short-term
content. Are you utilising big data in your company? Utilizing and applying data as part of
your financial services marketing plan is now simpler than ever thanks to customer
experience platforms and automation solutions. Big data can assist you in identifying clients
and providing services to them before or after they are required. It can also help you target
particular audiences that require more customer service or online financial education. One
of the best marketing strategies is storytelling, which can be used on a variety of platforms,
including social media, video, advertisements, blogs, and more. Engaging content marketing
methods make use of your brand's distinctive story and services to draw in customers,
arouse feelings, and motivate them to take action.
2. A credit score is a numerical expression used to quantify a person's creditworthiness. It is
based on a level examination of their credit files. The main component of a credit score is a
credit report, which is normally obtained from credit agencies. Credit scores are used by
lenders, like banks and credit card firms, to assess the risk involved in lending money to
consumers and to reduce losses brought on by bad debt. Credit scores are used by lenders
to decide who is eligible for a loan, the interest rate, and the credit limitations. Credit scores
are also used by lenders to identify which clients are most likely to generate income. Credit
evaluation is not just used by banks. The same strategies are used by other businesses like
mobile phone providers, insurers, landlords, and government agencies. Alternative data
sources are being used by digital finance organizations, such as online lenders, to determine
a borrower's creditworthiness.
Repaying your auto loan punctually indicates your dependability to credit bureaus and can
eventually increase your credit score. However, making late payments can only damage your
credit. While paying off your credit card debt is vital, your utilisation rate and timely
payments are more crucial. Many times, debtors would disregard these elements in the
mistaken belief that speedy debt repayment will result in a perfect score.
Since it first emerged in January 2020, the COVID-19 pandemic has had a negative impact on
many facets of existence, including human life and the economy. Layoffs and pay reductions
have had a significant negative impact on cash flow, which has increased demand for
additional credit, primarily in the form of unsecured loans. But to be eligible for these loans,
a strong credit score is crucial, especially in times of need. A person's credit score
demonstrates to the bank how creditworthy they are. Your credit score will increase if you
have a bank loan or credit card and pay the loan back in EMIs or pay your credit card bills on
time and in full. However, the score could be negatively impacted by any missing default
payments.
Interest rates for credit cards and personal loans are frequently higher than those on
mortgages, auto loans, and school loans. In addition to lowering your credit usage, paying
those off first will also result in interest cost savings. A debt reduction calculator can also be
helpful.
It's critical to routinely check your credit score during a period when your income may
change because of wage reductions, layoffs, or even incremental pay cuts. Considering that
your spending would be decreased, keeping an eye on your score might help you avoid any
significant differences. Visiting a free credit scoring website is one of the finest ways to check
your credit score for nothing. Usually updated weekly to monthly, these websites give you
access to your credit report, score, and/or credit monitoring. Registration for the most basic
credit score updates is free. However, other websites charge a monthly fee for more
sophisticated features.
Although cancelling your auto payment could lower your credit score, it can undoubtedly
free up some money each month. This is due to the significant impact open accounts with a
solid history of on-time payments have on your score. Your credit mix and average account
age may both decrease because of closing an account.
You can stop additional damage to your credit score by making up any missed payments.
Your objective should be to raise your credit score from a 319 as much as you can. That
entails paying off any accumulated debts. When you start skipping payments after a while,
debt collectors start to knock on your door. You might also need to take into account the
prospect of facing legal action from debt collectors or credit card issuers. A 319 credit score
suggests that the holder has frequently skipped payments. You can prevent a lawsuit by
making such payments in a timely manner. Additionally, it will stop your debt from being
collected.

During a crisis, paying off your credit card debt as soon as you can is crucial. If the debt is not
paid off, it grows along with the interest that is accrued, making it more difficult to pay it off
in the future. Your credit score may be impacted by any type of late payment. Late payment
of a credit card bill increases the likelihood of higher finance charges. The finance costs have
a maximum annual increase of 49.36%. The likelihood of falling into a debt spiral. When the
balance on the credit card is paid past due, the credit score is the one that suffers the most.
When a payment is repeatedly missed, the likelihood of receiving a loan from the bank
reduces, and the label "defaulter" may be added to the credit card statement. If you have
repeatedly defaulted, the bank has the sole option to end your interest-free period. Since
the bank does not charge interest on the borrowed money during the grace period, it is a big
benefit to credit card users. Depending on the cardholder's credit history, this time frame
may range from 21 to 51 days. A late payment fee is applied when a cardholder doesn't pay
even a small portion of the unpaid balance by the deadline. Cardholders are charged a late
payment fee, which varies from bank to bank, when the due date is missed. It could become
tedious to pay finance fees and late payment fees at the same time. When the minimum
payment is taken from the remaining balance, the bank does not charge a late payment
penalty. The credit limit affects how much you can spend; the higher the credit limit, the
more you can spend. The credit limit may decrease after several missed payments, which
may ultimately reduce the cardholder's purchasing power. People believe that paying the
minimal balance due will result in them paying less interest. The cardholder invites problems
for the subsequent billing cycle by doing this. The transaction date, not the payment due
date, is when interest begins to accrue. Therefore, it is preferable to pay off your debt
before the deadline.
It is advisable to choose the moratorium only if there is an emergency, such as a stop in
regular income or a lack of finances to satisfy vital obligations, because the interest collected
during the moratorium period will need to be paid. A moratorium is a temporary halt to
operations until subsequent events make it appropriate to lift the halt or until associated
problems have been resolved. In reaction to short-term financial challenges, moratoria are
frequently implemented. When a catastrophe throws off routine, a moratorium is frequently
implemented. A government or the central bank may impose an emergency moratorium on
some financial activities following earthquakes, floods, droughts, or disease outbreaks.
When things return to normal, it is lifted.
Although it is a possibility, it is advised against using credit card withdrawals during this crisis
as they come with several additional expenses, including cash advance fees, additional
finance charges, and late payment fees. As repayment of the advance amount has a
separate and higher interest rate, it also has a small negative impact on your credit score.
Banks like to lend to customers who keep their credit usage percentage under 30% of their
available credit. The financial and health crises have been dubbed the worst in years as the
COVID-19 epidemic draws near. Many people's financial well-being and any economic goals
they had set for the year have both been severely hindered. The key to navigating this crisis
without harming your financial security will be paying off previous debt and keeping your
finances stable.
3. A. ULIP, or Unit Linked Insurance Plan, is its full name. A ULIP is a type of insurance that
provides coverage for both your family's financial security and investment opportunities to
help you achieve your long-term objectives. There are two portions to the premium paid for
a ULIP. It is split between contributing to your life insurance and investing the remainder in
the fund of my choice. Depending on your objectives and level of risk tolerance, you can
choose to invest in either equities or debt funds, or a mix of the two. Because of this, ULIPs
are a great investment choice for the long-term objectives of your family and you. You can
pick the level of life insurance coverage you desire with unit-linked insurance policies. The
minimum Life Cover granted by most ULIPs is 10 times your annual premium. However, you
can choose your Life Cover amount up to 40 times your yearly premium or even higher,
dependent on the policy and the insurance firm. You also have the choice of partial
withdrawal+ with unit linked insurance policies, which enables you to take out a portion of
the money that has been invested in your policy. This choice enables you to pay for urgent
costs like your child's 10th, 12th, or graduation fees, a family vacation, unexpected bills, and
more. Most partial withdrawals are free of charge. There are three primary categories of
funds: equity funds, debt funds, and balanced funds, which combine the two. Equity funds
can be used to make investments like stock purchases. In debt instruments, debt funds
invest. Equivalent amounts of both stock and debt are invested in by balanced funds. ULIPs
give you the option to invest in several funds based on your investing objectives and risk
tolerance. For instance, you can invest in equities funds if you want to increase your wealth
and don't mind taking a risk with your money. Similar to this, you can invest in debt funds if
you want consistent returns on your money. Using the switch option, you may easily transfer
funds between equity and debt funds. The majority of insurance policies only provide a
predetermined number of free swaps each year; any more switches incur a minor premium.
ULIPs are designed to assist you in achieving your main objectives, such as the possibility for
wealth growth, retirement preparation, or education savings for your children. You have the
additional advantage of knowing that your premium goes toward ensuring your future
objectives with ULIPs. A ULIP, or unit-linked insurance plan, combines investments and
insurance. In ULIPs, a mortality charge is paid as part of the premium; the remaining portion
is invested in a variety of financial products, including market funds, bonds, debt, equities, or
hybrids. You are free to choose the funds that you want. ULIPs are frequently seen as one of
those financial plans that, on paper, seem too good to be true. Some of the benefits of ULIPs
include fund switching and investment flexibility. In plain English, this means that you have a
variety of investment options and can pick the funds you would like to invest in. Transferring
accumulated funds is simple and has no negative tax effects. The quantity of free switches is
nonetheless constrained and varies from insurance to insurer. Due to the investment and
insurance functions of ULIPs, there are additional fees that must be paid, such as fund
management fees, administration fees, and policy mortality fees.
A straightforward and risk-free form of insurance coverage is a term insurance plan. It offers
your family financial security against a certain premium paid over a predetermined period of
time. At reasonable prices, you can obtain a significant amount of term insurance coverage
(sum assured). In the event of the policyholder's passing, the beneficiary receives the sum of
the term insurance. Term insurance only provides a death payout. In plain English, it
guarantees your family's financial security in the event of your passing. At a reasonable cost,
it essentially functions as a tool to replace your income in the event of your untimely death.
Despite having no investment component, it provides coverage for your nominee for the
entire policy term with no adjustments to the premium. Additionally, by combining the
standard insurance with important add-ons like the waiver of premium, critical illness rider,
 accidental death benefit, return of premium, etc., the benefit that is supplied can be
improved. The length of the insurance can range from five to forty years, and if for whatever
reason you are unable to pay the payment, your coverage will end. In that situation, you
won't be eligible for any benefits. Since the premium remains the same for the duration of
the policy, it is crucial to choose a plan you can afford in the long run.

ULIP Term Insurance

Insurance + Investment Insurance

Anyone interested in making long-term The family without the breadwinner

investments

Partly invested in different funds No investments

partially invested as an insurance Pure Insurance

premium

Returns are influenced by both market No returns; only Death Benefit

performance and the amount of
money allocated.

The premium prices for ULIP can be The market offers relatively cheaper premiums
much higher than those for a term for term insurance plans.
insurance plan because of the
numerous fees associated with it.

When you desire long-term increases When you want to safeguard your loved ones'
in returns and insurance safety and financial future from certain
calamities

There are numerous expenses, No charges

including service charges, fund
switching fees, policy administration
fees, fund management fees, and fees
for allocating funds.

Depending on your needs and your Between the ages 25 to 35 years

savings, you can purchase it whenever
you choose.

At least – 3 years to 5 years No lock-in time (You have to get it renewed

every year)

Not Secure Highly Secure

Units may be redeemed at the current You cannot take advantage of maturity
unit prices. benefits until you choose the Return of
Premium Plan.

All payments made are free from taxes Section 80 deductions (C). Section 10 would
under Section 10D of the Income Tax also exempt the nominee's Claim Benefit from
Act of 1961. Tax refunds are also taxes (10D)
available for premiums paid in
accordance with Section 80C.

The ability to switch between the plan's No switching option

connected funds and to alter

Depending on the investor, a term of Depends on the individual purchasing the

10 to 15 years is advised for good plan and the term that was selected by him or
returns on investment. Additionally, it her. For as long as a person has dependent
relies on how well the market for the family members, it is preferable that they carry
funds one invests in does. term insurance coverage.

Depending on the market performance benefits in the event of the policyholder's

of the investment you have purchased untimely death. If a policyholder has return of
premium coverage, the insurer will repay the
premiums they have already paid as a maturity
benefit if they live over the policy's term.

Term plans are risk-free insurance policies that aid in protecting your family's future in the
event of an unlucky circumstance. They are especially helpful if you're looking for a plan with
a big sum promised yet inexpensive premium rates. Along with the amount of life insurance
covered, ULIPs also provide investing opportunities. In contrast to term plans, you can
achieve long-term financial objectives and obtain a maturity benefit. Both plans have various
functions, so you should select one based on your needs. Both can be added to your
financial shopping cart to assist you develop a corpus for your later years as well as to
protect the family's financial future. You are aware by this point that Term Insurance and
ULIPs cannot be compared because they are like chalk and cheese. Despite the fact that
both are insurance products, they have various uses. Term insurance provides your family
with financial security in the event of your untimely death, whereas the premium for ULIPs is
split into two parts, one of which is set as insurance and the other of which is invested in
different funds. While term insurance protects your family in the event of your death, a ULIP
strives to safeguard your financial future through investment. It would be foolish to compare
their benefits and goals because they are different. If you're still unsure whether to pick
term insurance or a ULIP, go with the option that best suits your financial requirements.
Ameet should choose Term plan because it has lower premiums and is cheaper
3.b. Equity Funds are mutual fund programs that allocate their assets depending on the
investing goals of the underlying program to equities of various companies. These funds are
excellent choices for capital growth investments since they have the ability to generate
wealth over the long term. Equity funds are a good option for investors who seek exposure
to the stock market and long-term investments. Equity funds give investors the opportunity
to participate in a diversified portfolio that is exposed to several economic sectors.
Investments can be made regardless of market capitalisation. Compared to investing directly
in stocks, this carries less risk because the underperformance of some stocks can be
mitigated by the performance of other stocks. Equity funds have the potential to produce
superior inflation-adjusted returns than conventional investing options since the returns are
market-linked. Equity funds give investors the chance to gradually increase their wealth over
time. Equity funds are expertly managed by fund managers that actively monitor market
investment opportunities while attempting to reduce risk. Due to this, investing in equity
funds is a wise choice for investors looking to access the equity market. Investors can simply
invest, redeem, or transfer their units to a different plan by beginning a SIP (Systematic
Investment Plan), SWP (Systematic Withdrawal Plan), or STP (Systematic Transfer Plan).
Under Section 80C of the Income Tax Act, investments in ELSS (Equity Linked Savings
Scheme) are eligible for tax benefits of up to $1,50,000 (for individuals and HUF). One of the
shortest lock-in periods among tax relief instruments at the moment is its three-year length.
SIP allows anyone to begin investing in equities funds with as little as INR 500 per month.
You can invest in mutual funds through the SIP feature starting at just Rs. 500 each month. If
you consider the impact that even a tiny monthly contribution can have, we can state with
certainty that your money will begin to increase slowly but steadily over time, eventually
building up to a larger corpus. In retrospect, it would even be preferable to start small.
Because even if you first made mistakes, there would be little money at risk. On the other
hand, if you continue to wait until you have amassed a sizeable sum before investing in your
first mutual fund, you risk being too late. This is so that your mutual fund investments can
grow quickly over time. Most of us frequently struggle to follow our financial strategy.
Sometimes the temptation to overspend money and other times the turbulence of the stock
market derail our intentions. Here, a SIP can be quite beneficial. Here, your funds are
automatically taken out of your bank account each month. This would initially assist you in
avoiding blowing your hard-earned cash, and gradually, you would develop financial
discipline, which is the key to increasing your wealth. Even the most seasoned investors
cannot time the market, that is, invest money when markets are weak. This is why investing
in lump sums can be disastrous. What if you make an investment now, and the markets
decline shortly after?

Ameet and Supriya should invest in SIP as it is easier to invest and is superior in risk
mitigation.