The winner of multiple awards such as the Prudential Chairman award and HDFC Upper Crust award, Sadashiv Arvind Phene is an inspirational figure. Jayshree Pyasi and Pallabika Ganguly narrate his success story
Sadashiv Arvind Phene is one of those traditional financial advisors who give customer the highest priority. Constantly on the move, he works hard to cater to his large client base built purely on referrals.
“I am basically a science graduate and university level player” says Sadashiv. He attributes his career choice to his father. “My dad believed that I could flourish as a businessman.”
As, soon as he graduated he ventured into the industry with post office and UTI (Unit Trust of India) savings plan leaving all the job offers his stature as a university player had gotten him. The year 1986 when he started his business was coincidentally the year when mutual funds (other than UTI) were first introduced. He believed that the future of Indian investment industry was in MFs. “Mutual funds are such investment plans that offered tax benefit and liquidity. So, I understood that investors would be interested in them.” Whatever commission he had earned till 1997 was invested in debt or equity based funds of SBI and UTI.
His committed approach toward clients made a mark in the first year itself and he stacked a client base close to hundred soon. He tested waters about viability of any investment plan personally before advising it to his client. This approach has been the driving force behind his credibility and growth in his client base. The portfolio he designs for the client includes a mixture of debt and equity funds with a healthy mix of long term insurance plan. At present he has a client base of twenty thousand.
The USP that sets him apart from his counterparts is his direct approach to clients. His inventory is basically built on clients’ references. Satisfied customers have been his brand ambassadors. He analyzes the customer profile and their portfolios before offering any financial advice.
His client base is made up of ninety percent retail and the rest is high net worth clients. He follows the ideal breakup for his client’s investment portfolio - 35% debt and 65% equity. “Generally, the clients are skittish towards investment in debt due to the high risk but I ensure that a certain percentage of debt MF is a part of their portfolio,” explains Sadashiv.
He operates without charges. He feels when asked to pay the retail investor always has an option to leave and put his money in bank deposits. According to him, the changes in SEBI policies and regulations have added to confusion in minds of clients. “The clients are confused whether to pay the advisor or not,” says Phene. “And, the regulations were introduced at a wrong time because it coincided with boom period. The industry which was on high was brought down because distributors were not ready to work without remuneration,” he concludes.
Though, the entry load ban affected retail sector majorly, it didn’t affect his business as badly as the rest of the industry because of a large AUM and client base.
Sadashiv is an acute family man and he draws on the strength of his family support for his business. His brother gives him crucial advice. Always on the move, Sadashiv is aided on the back end by none other than his wife.
On the topic of whether his ninth standard son would be joining him at the later stage he says, “As of now, he wants to be a cricketer like every other kid in India.”