Financial services segment has been a major contributor to the Indian economy over the last few years. Banking, insurance, mutual funds, capital market and equities are some of the key constituents of this vast sector. Independent researchers have anticipated a five-fold growth in assets segment making it a 1.47 trillion USD market along with growing the investor’s accounts to nearly 130 million by 2025. Often consumers are stuck in a similar conundrum regarding the key logics and analysis which can assist them to invest wisely and avoid huge losses. This is a point where a proficient financial advisor or a financial consulting firm can help the customers to be well-informed about the current financial market and the future trends. However, to attain these milestones, investors also need proper guidance and corrective actions so that their investments are not scattered.
One such prominent company which has evolved into an influential financial consulting firm is myFin Advisor. Founded in 2011, the company is one of the pioneers in India for e-Financial advisory services, catering to the B2B and B2C market segments. The company focuses on advising, consulting, and planning wealth for Indian residents, non-residents, expats, and corporates. Retail investors and Customer Consulting are the two primary domains under which the company offers individual advisory and complete financial planning solutions. With years of expertise, the company provides authentic and viable solutions in the sectors of insurance, equity shares, mutual funds, and financial planning. Additionally, they also assist customers in filling of the income tax returns, retirement plans, and other concierges’ services.
An Ingenious Mind
As the Managing Partner and Founder of myFin Advisor, Peeyoosh Agrawal is an invigorating frontrunner. After completing his graduation from IIT Bombay, he has been investing and managing his family portfolio since 2002. Prior to commencing his entrepreneurial venture, he has extensively worked for the Indian payroll system under the IT sector. In his professional career spanning over two decades, he has amassed wide knowledge and proficiency in the areas of taxation and corporate finance.
Initial Journey – Turning Hurdles into Opportunity
Peeyoosh’s professional journey is nothing less than a roller-coaster ride. His rough experience with a financial advisor who was hired by his family gave birth to the idea of venturing into the financial advisory market. A software engineer by profession, Peeyoosh carried the financial portfolio from his father in 1992. He closely observed the financial advisory market and felt that the penetration was lacking desperately among the citizens, which was mainly due to unawareness among the people. In 2011, the financial services market was fragmented and the majority of the people were interested in endowment plans instead of investing in shares, mutual funds, or ‘pure’ insurance. However, with sheer determination and the zeal to succeed, Peeyoosh floated his venture during the economic slowdown. He concentrated on the B2C customers and provided consultations on savings and mutual fund investment.
Astounding Services of myFin Advisor
The company has designed a structured service portfolio which aims to cater different segments. Evolving as a ‘one-stop-shop’ for all financial requirements, the company offers advisory services in three different formats.
Retail investors are of utmost importance for myFin Advisor and constitute the majority of the client base. Comprehensive financial planning is all about innovating and refreshing investment strategies to the clients. Expertise in deep investment knowledge backed by structured, data-driven approach assisted the company to devise ‘de-risked’ investment strategies for the customers. They also follow a systematic approach to answer the queries by their customers. Providing neck-deep analysis of the market and sharing the best industry practices helped the firm to win the trust and confidence of the clients.
The company has been a preferred choice for the corporate world due to its ability and agility to fulfill the requirement of the corporate sector. The company offers soft loans, mortgage and non-mortgage loans, and capital for initiating projects along with arranging funds from different investors across the globe. It also provides help in getting venture capitals for the startups. Additionally, myFin Advisor also files ITR, corporate forms, alongside assisting the firms to create and audit their balance sheets.
The company also extends its services to NRIs, PIOs, and Expatriates by providing consultation and guidance towards investing in mutual funds, equities, and Government bonds. myFin Advisor has been imperative in trying to bring foreign investment to India in the form of assisting foreign clients to invest in real estate sector.
Attribute to Success
Embracing cutting-edge technologies, professionalism, ethical practices, and continuous learning are the values that make the company stands ahead of its competitors. Persistence, Perseverance, and Patience are the virtues which result in gaining the confidence of their esteemed customers. The will-power to keep moving forward and staying focused has assisted myFin Advisor to stand against the tough times and evolve as a matured player in the market.
Marching Towards the Horizon
The organization holds a very enthusiastic view of the future financial advisory business. Having cemented its position in the market over the years, myFin Advisor has plans to acquire smaller companies which can help them in increasing their market share and revenue.
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