It was the year 2003 when Vinod had just begun his career as a Chartered Accountant (CA) and part-time financial advisor. He used to file income tax returns for many of his clients, including Nita Shah’s (name changed) deceased husband, Ritesh Shah (name changed) who was a chief officer in merchant navy.
Nita’s daughter, Sheena (name changed) was a state-level tennis player during those days. In fact, Vinod had met Ritesh during one of Nita’s practice matches.
Jain had gone to meet one of his clients at the tennis court when he met Ritesh. As Ritesh required assistance in filing his income tax returns he approached Vinod to do it for him. Later when Ritesh learnt that Vinod was a financial advisor, he shared his investment details too with Vinod.
Interestingly, before leaving for his last voyage, he entrusted his family’s financial responsibility to Vinod. Ritesh died of a heart attack on the ship itself leaving behind Nita and 7-year-old Sheena to lead their life by themselves. Soon after his demise, Vinod stepped in to train Nita and her daughter to be financially independent.
Ritesh had invested in bank deposits and some insurance policies. He had also invested in company deposits of a few cement and steel manufacturers. In fact, he had huge deposits in a few junk companies as well. However, at the right time, Vinod withdrew them and invested the proceeds in other assets.
Vinod asked Nita if she wanted to continue investing in traditional instruments or re-arrange the portfolio. “Do whatever you feel is right. My only dream is to see my daughter living a good life,” Vinod still recalls Nita’s words.
As Vinod was acquainted with their goals, he chalked out their investment plan easily.
Sheena had to travel overseas for training and matches at least once in a year. This typically incurred a cost between Rs. 4-5 lakh per year. Also, the cost of professional training and equipment coupled with the household expenses had to be managed efficiently.
Nita thought Sheena would have to sacrifice her career aspiration due to their limited resources. However, Vinod assured Nita that Sheena would achieve her dream without any problems.
Today, Sheena is one of the top ranked tennis players and is married to an Olympian and one of India’s best tennis players.