Vanesh Panchal | CEO | Beeline Broking Ltd.
This story talks about a visionary who wanted to make a splash in the finance sector. The aspiration to create a better company in the finance world and deliver innovative broking services is what this journey is all about! Beeline Broking – One of the trusted brokers in the finance space. He has been active in finance space for over two decades now, but his hunger to contribute is as unstoppable as ever- Vanesh Panchal, One of the Founders of Beeline Broking.
Taking the Plunge into the Business World
After two decades of retail experience in his kitty, Vanesh decided to give wings to his dreams and founded Beeline Broking. Quitting lucrative jobs, Vanesh decided to covert his dreams into reality. “It’s my dream to have my own broking house as I had worked with a couple of national brands, always wished to start my own broking house and lead efforts in the market”, Says Vanesh.
Vanesh has always been passionate about finance sector. He started a broking business as sub-broker in 1994. After attempting a hands-on food processing business, he migrated to Ahmedabad to start a job. He has given his fruitful contribution to various finance companies. He worked as vice president in Indiabulls from 2003 to 2007. Later with his team of around 150 people, he started working for Monarch Networth Capital Ltd. in March-2012. After his short stint at kunvarji Finstock Pvt. Ltd, he founded Beeline Broking services to deliver exceptional financial services to customers. One in three accounts in india should be beeline’s – is Vanesh’s vision towards his company.
He is very focused on his vision and aggressive in execution. His younger brother and wife always support him in every part of life. “My younger brother and my wife are my all-time guidance and now both kids have become my source of inspiration in fulfilling my dream”, Says Vanesh.
About the company
Founded in September 2014, Beeline Broking is now a full-service broker firm. The company is also a member of all exchanges and depository and is also a merchant banker. The company’s products are equity trading, Mutual Fund, Currency/commodity trading / Hedging, etc. The company also recently started an insurance business for its customers.
Talking about motivation Vanesh Says, “We have population of around 130 cr out of that more than 45 % is middle age, and our equity participation/awareness is around 3.5 %, always motivated made to be part of creating equity awareness in younger generation and looking for sizable chunk for participation from 3.5 % to 5 % in short time”.
Overcoming Challenges, Creating Opportunities
Coming from a family of the teacher, Vanesh always finds it difficult to manage a fund for business. It was very difficult to manage a fund for a business of broking as this industry is very capital intensive. With support from friend, family, and partner, Vanesh ventured into Beeline Broking Ltd. and started fulfilling the needs of customers.
In the broking business risk is all over as profit margin is very paper thin and there is a risk of more than 100% capital due to the nature of business and volatility of the market. Moreover, corporate governance issue things are going worst in term of managing risk. Under the leadership of Vanesh, Beeline Broking Ltd. is overcoming these challenges with proper risk management at a place along with real-time action of a specific stock and margin tracking.
Vanesh’s Perspective on Current Scenario of Industry
Initially, the company started its operations in a traditional way-people used to visit broker office, used to trade and prefer to trade in person. The advent of technology started to revolutionize the trading platform in an amazing way. Everything is carried out with just one tap of a finger. It results in cost-effectiveness and trading has become convenient for users. Due to technology, Indian investor has now more aware and updated with the market and able to take a better decision for their hard earned money. Beeline Broking is a torchbearer in implementing technology in its trading platforms to give customers a smooth experience.
Vanesh doesn’t skip a beat while talking about the current industry scenario, “Future of fintech lies in data collection, segregation, and analytics. There will be a large scale adoption of technology in the financial sector. Banks and tech leaders have started to look at smaller players who can make their operations lighter thereby retaining a customer. Some fintech startups are going head on competing with the large players. Complacency will not be a good thing for the incumbent players in the space”
Wise words for budding Entrepreneurs
While advising budding entrepreneurs, Vanesh says that always focus on customer problems. “Once they figure out the pain points working on robust products that can scale owing to internet and mobile penetration. Data and internet penetration is the way forward. Those who focus on core customer engagement and problem are likely to succeed”, Says Vanesh.
What lies ahead?
The company’s business plan is to do 360 degrees a complete self-driven robotic planner. The company is looking forward to having total control over client’s individual budget, expenses, investment related to their goal and give them mirroring effect of what they can get in future if they adopt such discipline and risk if they failed in coming days. Progressing forward with the positive approach, the company is looking to expand its branches in every western part of India 2019-20.
