Vijay from Indore had ₹15 lakhs to invest. He called HDFC Securities. The relationship manager recommended a portfolio that charged 2.4% annually. The conversation lasted 8 minutes. The manager had 210 other clients.
Two months later, Vijay panicked during a market correction and asked to move everything to safety. The manager was unavailable. By the time they spoke, Vijay had already transferred money out. He lost ₹2.8 lakhs.
The manager never knew Vijay was a new parent. Never knew his anxiety triggers. Only knew account statements.