Great Companies: How did you get your idea or concept for the business?
Abhishek Mohta: I started saving at a young age of 17, I was saving 40% of my pocket money every month but even after savings for almost 5 years I wasn’t able to achieve my financial goal of throwing a party for my parents on their 25th Anniversary. I invested the entire money in fixed deposit which could barely beat inflation. The amount required was almost double than what I was able to accumulate. School never taught me about inflation and how purchasing power of money gets reduced oveertime. I compromised, and gifted a microwave oven to my mom instead. I felt very bad and there was a feeling of not achieving something just because I didn’t invest my money prudently.
I studied more about money, concepts of finance and how can I grow my money, I also joined a course and became a Certified Financial Planner. I got a sense by then that most people struggle with money and there is a lot of gap as how money is managed and how it ought to be managed and it resulted in formation of Trustedarms Wealth Management LLP where we help individuals & families create a better, secure & happy financial future.
Great Companies: What are the various Services provided by Trustedarms Wealth?
Abhishek Mohta: We assist individuals & families in setting their financial goals and achieving them by investing the right amount, in the right asset class. Our Services include Financial Goal Setting & Planning, Portfolio Review, Investments.
Great Companies: What makes Trustedarms Wealth different from hundreds of other similar service providers?
Abhishek Mohta: Our philosophy and approach makes us different from not only hundreds but thousands of similar service providers.
We talk about you – where most organisation talks about products, we talk about family & their financial goals and give them the right solution to help them achieve them.
Most people invest randomly without understanding their own requirements or buy products which are sold to them. We define the 4Ks of Investments – Kya, Kab, Kitna, Kaise. Kya means why they want to invest their money, Kitna means how much money they would be requiring to accomplish the goals, Kitna means how much they will need to invest to achieve the goals and Kaise means how and where will we make them invest.
We save a lot of our client’s time. We understand that people don’t have time today, we are online since 2012 and inspite of not being a fintech company we have our mobile app and various other tools since 2015.
Where everyone talks about returns we know we are risk managers and don’t let our clients loose their hard earned money.
Treat our clients goals as our own goals.
We have Competent & Strong Research.
Great Companies: What are the struggles and challenges you face?
Abhishek Mohta: Nothing as such. The one thing that I would like to mention is that there has been a lot of traction in crypto space recently and lot of people have become traders. People who were afraid of investing money in equities through mutual funds have suddenly started putting their money into cryptos looking at past returns, following their friends or someone on twitter who says has made fortune in it. This may be a story because of the current bull phase but we have been facing challenges in managing such clients expectation especially the millennials.
Great Companies: How do you plan to grow in the future? What does 5 years down the line look like for Trustedarms Wealth?
Abhishek Mohta: We are planning to invest more in technology, research and human resources as we grow. We require more people as our client base is growing, so we can give personalised services and have more client engagements. We are sure to grow our client base and asset under management 5x in 5 years. We are also planning to conduct 60 Investor Awareness Programmes in this time frame to help more and more people become aware around managing their personal finance.
Great Companies: If you had one piece of advice to someone just starting out, what would it be?
Abhishek Mohta: You take care of your clients well, manage their money well and you will never have to look back.