Mr. Shailesh and Mr. Sadruddin - K Mint Financial Services LLP - Pune
ES: Please introduce yourself and also Share your vision and mission or goals in life.
Answer: Shailesh is a college dropout who got into the advisory business through his friend Mr. Khetani who is a qualified CA and they both are business partners since 2005. Our vision is to create an organization that believes in creating wealth for its clients with minimum volatility. Focus is now making a smooth journey towards creating wealth.
ES: Share your experience with NJ Portfolio Management Services (PMS).
Answer: We have an excellent experience of NJ PMS where it is true to its label “rule-based investing”. It gives us the much-needed automation of asset allocation wherein asset allocation is followed in real and not only on paper. For instance, when markets came down in March ‘20 they followed the rule and increased the equity allocation during the turmoil when everyone was scared and wanted to redeem. (forget about investing in deep). This gives confidence to investors that it's true to its label of rule-based investing and thereby avoids human emotions and baisess. It fits in our vision for reducing volatility while creating wealth.
ES: Tell us how you present, Pitch NJ PMS to your customers.
Answer: We tell the customers the importance of Asset allocation and human emotions. It's easy to say that buy low and sell at a higher price but it's difficult to put into practice. With asset allocation and rule-based investing and that too in good stocks, it’s a rare combination available in the market. We are very confident of this strategy and have started putting our efforts in this direction and that has started reflecting in figures as well. We have built up an AUM of Rs. 35 crores in a year's time.
ES: Let us know why should a partner promote NJ PMS.
Answer: NJ PMS is a unique combination of Asset Allocation, Removing human behavior, and biases. As a partner, it helps me in removing my own biases and I am true to the client regarding the asset allocation promised and execution happens when it has to take place. As we all know in asset allocation it will always give us the opposite transaction than what is in our mind. So to reduce the execution risk and being true to the client of asset allocation one should have a sizeable exposure to NJ PMS. Also stocks ETF‘s and Mutual Funds all are available on one platform so it reduces work for both clients and partners. The most important threat of the DIRECT plan gets eliminated.
ES: How much importance do you give to Asset Allocation & Risk profile while offering solutions to clients needs
Answer: It is very important to understand the client's needs and risk appetite for any solution. Many clients don’t want any further wealth creation they are more focused on wealth preservation so we need to take that into consideration and assign asset allocation. Maximum work is at this stage once correct asset allocation is decided for the client then all the future is work is easy to execute. But if there is a disconnect here at the time of asset allocation then the client might be dissatisfied either way. So it's very very important to strike the right asset allocation while onboarding the client.
ES: What advice do you give to Partners who have not started work on NJ PMS?
Answer: See, it’s very simple. Build your own conviction in the strategies/process being followed by NJ PMS. One should study it in detail. When you find an answer to this question: “why not invest or be with such type of investment strategies and what could go wrong in following it in your investments?” will make life easy for you and your clients. Answer to this question and in-depth understanding of the process that NJ PMS follows will help one to build the conviction. And we all know that conviction is something that you need to pitch/present anything with confidence.
We have dwelled a lot into this and have interacted with clients on these points but we never find a solid point from any of them that why one should not go with these investment strategies. We can tell you that, It will only make the journey smoother for the clients in creating wealth.
ES: Share your experience about NJ’s Technology initiatives.
Answer: Excellent, NJ has always remained ahead of the curve when it comes to technology. No company opens a PMS account online, but NJPMS is the front runner in making it online. The real test was done during the pandemic, it would be very very difficult to cont. business without E-Wealth. It’s because of many Digital Initiatives taken by NJ before and after the pandemic, made it possible for us to cont. With our business without any hindrance. All these truly helps a lot in focussing on core business activities and maintaining competitive advantage.
Thanks.