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Tarraki Corner From the world of glamour to finance

From the world of glamour to finance

Continuing with our series, Minesh Mehta (former agriculture merchant) and Mona Fakih (former model) tells us what made them move towards financial advisory.
Banali Banerjee Oct 10, 2016

Minesh Mehta, M2M Financial Consultants

Minesh Mehta is one of the finest examples of what hard work and determination can achieve. His perseverance has helped him get recognition in the financial advisory profession. Minesh hails from Ahmedabad where he used to deal in agricultural instruments.

Minesh ventured into financial advisory by sheer accident and under somewhat tragic circumstances. He migrated to Mumbai in October 2003 after his shop was destroyed in Godhra riots. His life came to a standstill during the communal riots.

“My shop of agricultural instruments was situated in a very sensitive area in Ahmedabad where the riots took place. I lost everything. For six months, I was not in a position to open my shop. Many people attempted suicide and fled the area but I did not want to give up. I was looking for some work in Gujarat but it was very difficult at that time, so I moved to Mumbai to find a job. I thought that I would earn a living by running a taxi if I didn’t get a job,” recalls Minesh.

In November 2003, Minesh read an article in a newspaper about dividend declaration of a mutual fund scheme which made him curious to know more about the subject. “I was completely clueless about mutual funds. But it really excited me. I thought if you invest Rs. 100 then you gain Rs. 20,” says Minesh. His inquisitiveness landed him in the AMC’s office which had advertised the dividend. The staff gave him some basic knowledge about mutual funds and introduced him to a successful financial adviser who trained him.

Today, he manages around 1200 clients with an AUM of Rs.60 crore in mutual funds. He advises his peers to have strong faith, courage and determination in order to thrive in this business.

When asked what he likes about his current profession, he says, “This business does not require any major investment. I came in Mumbai with only Rs. 1600 in my pocket and without making any investment, I was able to start my business as a distributor.”

Masarrat Mona Fakih, Allegiance Advisors

Rarely do we come across an IFA donning multiple hats. Founder of Allegiance Advisors, Mona Fakih, has been a fashion designer, model, sales executive and a wealth manager.

Although Mona had the option of joining her family business, she wanted to be independent. A fashion buff, Mona started her career with fashion designing but had to quit the job after her father passed away. “After finishing graduation, I took up a job in graphic designing firm but soon had to quit as my dad passed away. I had to go back to my hometown to stay with my mother as she was alone. Later, I got an opportunity to work in a equity broking company in the sales department in my hometown. After a few years, I was asked to move to a different department which was not of my choice. Eventually I had to quit,” recalls Mona.

During this time, Mona took some modelling assignments. Simultaneously, she also became an MF adviser since she was exposed to mutual funds during her stint at the broking firm and thought it could be a lucrative business “During my stint as a sales executive, I understood the concept of mutual funds and how it can deliver good returns over a long time. I decided to take up MF distribution along with my modelling assignments. I became the top individual distributor for one of the top AMCs at the national level,” recalls Mona.

She gave a formal shape to her business by floating Allegiance Advisors in 2000. Since then there has been no looking back. Her business has grown by leaps and bounds. Her clientele includes HNIs, SMEs, corporates and celebrities.

When asked what is the most satisfying thing about being an adviser, she says, “Keeping clients interest first and helping them achieve financial freedom is the most satisfying feeling,” says Mona.

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