Mr. Jay Ved, Mumbai Andheri
Q1. Can you tell us a bit about your family and how they have supported your journey?
Answer : It's truly challenging to summarize this in just a few lines, but I'll try my best. I live in a joint family with my mother, elder brother, sister-in-law, and nephew. My family has been an unwavering pillar of support in every endeavor I've undertaken. I owe my financial discipline and skills to my father, who excelled in budgeting for both short and long-term needs, and my mother, who taught me the importance of saving. Moving on to my extended family-my in-laws-they have shown immense trust in my decisions. In fact, I owe my career in this amazing business to my father-in-law Mr. Kaushik Vora, who introduced me to it. I feel privileged to carry forward the legacy he built. And of course, my wife, Radhika Ved, who is not just my life partner but also my business partner. She has stood by me through every high and low. Whatever we have achieved today is the result of our joint efforts. My greatest motivation, however, is my daughter, Dhvisha, who inspires me every single day. Beyond my personal family, I am fortunate to have a professional family as well, led by our mentors, coaches, and well-wishers-Rane Sir and Vibhash Sir. Additionally, my "Monday Meeting Team" constantly inspires me to push boundaries and aim higher.
Q2. Can you share your first impression of NJ Wealth and how it has evolved over time?
Answer : As I mentioned earlier, we were introduced to NJ Wealth by my father-in-law, so we were already quite familiar with NJ's systems. From the very beginning, it felt like a "one-stop solution" for all our requirements, where client records were managed efficiently and seamlessly. My father-in-law was particularly drawn to NJ's platform because of its robust data management capabilities. In today's business world, where data management is critical, NJ's system allows us to focus on what truly matters-meeting more people and guiding them on their wealth building journeys. Over time, NJ has consistently evolved its platform, introducing various tools and processes that have made our work seamless and effortless. Their constant innovation has not only simplified our operations but also added immense value to our practice.
Q3. What role has technology played in your growth story?
Answer : As the second generation in this business and a part of the Monday Meeting Team, we've often heard stories from senior partners about the earlier days, when physical application forms had to be filled out and submitted to NJ branches. Listening to these stories makes me truly appreciate how blessed we are to have been spared from such manual efforts. This has saved us significant time, allowing us to focus on other important areas of our business. A major part of our growth can be credited to technology. From opening E-Wealth accounts, registering clients' bank details, initiating their investments, or generating various reports, NJ's technological advancements have made every process quick, simple, and seamless. Moreover, technology has provided us with the flexibility to work from anywhere, anytime, enabling us to cater to clients across the globe without any constraints. It's been a true game-changer in our growth journey.
Q4. Can you share a memorable instance where you impacted/ transformed a client's financial life?
Answer : One memorable instance that stands out is with a client we acquired in 2019 through a referral from an existing client. At the time, both he and his wife had stable jobs and were very diligent in following our 8-step mutual fund investment process. He consistently sought our suggestions before making any financial decisions, which demonstrated his commitment to securing their financial future. A few years later, they decided to purchase a home, confident that their stable incomes would make the EMI manageable. However, about two years ago, their circumstances changed dramatically. His wife lost her job, and his employment shifted to a contract basis. The resulting financial strain made it challenging to manage their EMI, leaving them stressed and uncertain about their future. At that point, his portfolio was worth ₹30 lakhs, and he was considering redeeming a significant portion to pay down the principal on the home loan. Recognizing the long-term implications of such a decision, I advised him to avoid acting hastily. Instead, I recommended pausing his SIPs for a few months to ease the immediate financial pressure without depleting his hard-earned savings. Fast forward three years, and his decision to follow our suggestion paid off. Today, his portfolio has grown significantly, and he continues to benefit from the financial discipline we instilled. Not only did he reduce his stress during a tough time, but he also managed to build two valuable assets - his home and a thriving investment portfolio. This experience reinforced the importance of strategic decision-making during challenging times, and the client remains deeply appreciative of the guidance that transformed his financial journey.
Q5. What are your most used tools to run business in an organised manner and manage clients?
Answer : 3 Impactful Tools
1. *Need Plan* This backward planning tool enables clients to adopt a realistic approach to their financial needs. It encourages them to step out of their comfort zone and think beyond their current limits. By identifying and aligning needs with actionable strategies, it helps clients visualize the "big numbers" needed for their aspirations and needs, making them more achievable.
2. *Non-NJ PRU* Many clients remain unaware of their previous mutual fund investments, which are often scattered and unorganized. This tool helps uncover such hidden investments, turning their unstructured portfolios into a well-organized and need-based financial strategy. By matching these investments with their objectives, this tool acts as a bridge between past decisions and future financial clarity, unlocking significant untapped potential. These tools identify immediate, actionable opportunities in a client's financial landscape. By addressing these opportunities, clients can realize substantial results quickly. Whether it's reallocating underperforming assets or addressing neglected financial areas, this tool delivers "big numbers" with minimal friction, boosting confidence in the overall financial journey.
3. *Redemption Gain/Loss Simulator* This is a powerful tool that provides an in-depth analysis of mutual fund performance, even after the funds have been redeemed. It helps clients visualize the potential growth or loss they might have experienced, reinforcing the importance of long-term holding. This tool is particularly impactful for clients who frequently discuss booking profits or make unplanned investments. By showing the tangible benefits of staying invested for the long term, it encourages disciplined investing and discourages impulsive decisions that could hinder their financial growth.
Q6. What are your short-term and long-term goals for your business?
Answer : ST Goal: Achieve a SIP book of ₹2 Cr and an AUM of ₹200 Cr.
LT Goal: Build an automated organization similar to NJ.
Q7. NJ in one word
Answer : NJ's tagline, "Build on Trust", perfectly encapsulates its philosophy. In one word, NJ stands for "TRUST"-a value seamlessly passed on to its employees, partners, and clients.
Q8. MF AUM Target in 10 Years
Answer : As emphasized by Neeraj Sir, our industry is growing at a robust 26% annually. Applying the Rule of 72, we should be aiming to grow 10x in the next 10 years. • Current AUM: ₹150 Cr • Target AUM (10 Years): ₹1,500 Cr With additional effort and focus, we can accelerate growth to surpass even this ambitious target.