Home EurekaInterviews Professional Getting the right portfolio for your investments – Abhishek Mehta

Getting the right portfolio for your investments – Abhishek Mehta

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To invest is a crucial decision where one puts his hard-earned money in the expectation of some benefit in the future, such a pivotal moment requires sound financial advice from a skilled and trustworthy source. Abhishek Mehta who has completed CA, CFA and CS have brought about a change in the norm of financial advice. With previous experience in companies such as Deloitte and Anand Rathi, Abhishek refused to settle for the nine to five robotic, dull and drab job environments. Determined to be his own boss he along with his friends Krishna and Madhavi, started a company for Wealth management and Tax Advisory Services. The team at Eureka Moment sat down with Abhishek Mehta here are the excerpts of the interview;   

I learnt, rather than being a small fish in a big pond, be a big fish in a small pond. It may be that your bank balance has a few zeros less but in terms of happiness you will be much happier

– ABHISHEK MEHTA

Q: Tell us something about yourself.

A: I completed my studies during the course of my graduation. I joined Deloitte and then Anand Rathi where I was the executive assistant to CEO there for 3 years. I learnt most of the things there then started my own company. Not many people know this but I was removed from Deloitte in four months but I knew I would do something I wouldn’t let my career or my life be dependent on someone else.

Q: Tell us more about your initiative.

A: A few friends and i from Anand Rathi got together and decided to start our own wealth management firm because we felt that a lot of firms are doing product selling as opposed to actually going ahead and saying this is the right advisory so April 1, 2017, was our last day at Anand Rathi and all of us started this journey without the assurance of funds or clients. We started with a coffee shop 3 months we sat in one coffee shop from 9 AM to 6 PM, slowly and steadily we kept building our client base So what we try to build is a one-stop solution for the client. So what we try to build is a one-stop solution for financial advising. We have a team of about 22 people.

Q:  What is the Eureka moment of your life?

A: My Eureka moment came when I was in Deloitte. After becoming a CA I joined Deloitte, good salary, everything was nice. Not many people know this but I was removed from Deloitte in the first four months. there was something that I couldn’t give my 100% The day I was removed I was in a state of shock but the next day I decided no matter what happens I will not do a job I wanted to do something of my own whether I earn ten rupees or I earn ten lakhs that will be my own decision but I wouldn’t let my career or my life be dependent on someone else. That was a failure but it gave me my start

Q: How do you manage the operations for such a thing?

A:  We then decided to divide our services into four parts. The first was wealth creation – investment planning. Second, wealth protection – insurance planning. Third, wealth transmission – will writing, power of attorney letter of guardianship. Fourth, reporting all this to the tax authorities. Each section is headed by two people than all the eight people report to me. We hire a lot of interns because they are more enthusiastic to work     

Q: Who are your target audience?

A: Most of these things are available only to the upper-middle-class segment of society. But we wanted to focus on the middle-class people having a salary between 10 to 50 lakhs, those who actually need the financial advisor who usually gets their advice from banks or insurance agencies. Today we are managing the wealth of around 700 families and filing return of more than 1000 people in a year.

Q: Three advise you want to give to the newbies

A: Mediclaim, Term plan, SIB. If you have these three you don’t need to do anything. 

Q: Three changes you wish to see 

A: Instead of buying endowment plan for insurance people should buy a pure term plan. Rather than doing FD’s or keeping more amounts in a savings bank account they can use the money for debt mutual funds or liquid mutual funds and instead of pen and paper more and more transactions must use technology. 

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