Tru-Worth Finsultants was formed to assist people in attaining their financial goals by providing Guidance, Counseling and Advice in the Personal Finance areas like Investments, Insurance, Loans and more. In an interview with Founder of Tru-Worth Finsultants, Tivesh Shah, gave some insightful answers highlighting the influences made by his company to take Financial Planning towards newfound heights.
1. Kindly Brief about Tru-Worth Finsultants and tell us about the vision and mission of your company.
Tru-Worth Finsultants is personal finance firm providing service to individuals who want to be prepared for their future by protecting from various risks, achieving life-goals and leaving behind a legacy.
The mission is to provide value for each rupee an investor has invested by enriching his life through various goal achievements and create wealth in the process.
The vision is to have informed, aware and happy investors by hand-holding them through various stages of their life.
- Being in the financial service sector for years, please share your point of view about the industry.
The Personal Finance Industry is still in its infancy in India. The awareness is now getting created with next generation starting early, with utilization of digital medium. The penetration of various financial products as well as insurance is still low as compared globally but with the government’s various initiatives and the Financial Industry`s will to create awareness, the movement has beginning to pick pace.
- What are your biggest leadership challenges as a CEO? How did you manage to cope up the difficulties?
Biggest challenge was to make clients look beyond their short term requirements and take a holistic view of their life by prioritizing what’s more important than just money.
Over the period, we have created stages in our financial plan to engage with them in between and help them understand importance of what we are doing and also engaging them post-plan delivery to execute the suggestions to achieve their goals.
- Tell us how Tru-Worth Finsultants is helping their clients in Financial Planning? Which kind of unique services and solutions do you provide to clients that make you stand out from the other competitors in your field?
We, at Tru-Worth Finsultants, engage with clients in a holistic manner to cover various areas of personal finance through customized detailed financial plan or a goal based plan, as per requirements of clients. As a part of the process, the clients are taken through each stage of the financial plan and only when they are convinced the next stage is taken up, with the suitable products coming up only in the last stage after completely understanding their cash flows and goals. These engagements with clients at each stage makes clients adhere to the suggestions provided and execute them, which otherwise remains an academic exercise. The priority is given to making contingency funds, have proper risk cover through suitable insurance products, provision for short term goals and then long term investment in suitable products based on their asset-allocation.
- Customer relationship is an important part of the financial service sector, share some tactics and strategies to build long term customer relationship.
a) Don’t suggest products, without understanding the purpose of investing money for it.
b) Hand-hold the client through various stages of his life, without expecting to earn from him at all points.
c) In times of volatile market conditions, help him to stay focused on his goals or purpose of his investments rather than taking calls based on market scenarios.
d) Keep in touch through various touch points like social media, mails, etc. not only related to his investments but also his other areas of interest like sports, music, etc.
- Tell us about the company’s work culture and how do you keep employees motivated?
We are a small team with focused individuals for each task with “Clients First” approach.
We treat our employees as internal clients, to provide them an engaging and learning work environment.
- Mention some of the awards, achievements, recognitions and clients’ feedback that you feel are notable and valuable for Tru-Worth Finsultants.
The fact that he keeps coming back to us for our feedback on various things is our achievement in having fruitful relationship. Client’s satisfaction is our biggest award.
- What are the values and factors that you attribute your success to? Also, suggest the one quote which adorns your company very well.
Our focus on providing “Customized, Planned Solutions” to our clients, which is also our tag line. We always try to find out what is most suitable thing for the client to do, which will be beneficial in his overall life span rather than just taking short term views. To have empathy with our clients and then provide answers has helped us to engage with clients better to provide them with most suitable solutions.
The quote which goes very well is “Your customers are the judge, jury, and executioner of your value proposition. They will be merciless if you don’t find fit!” by Alexander Osterwalder.
- Please tell us about Tru-Worth Finsultants’s future plans to expand new market and new product or services.
In pursuit of our mission and to reach more individuals, we have started working with advisors who want to move on from only-distributing financial products to provide value based solutions to their clients. We assist advisors by helping them design and also implement process; provide outsourced financial planning services; provide them various customized tools to provide desired solutions to their clients.
