Dhruv Mehta and Roopa Venkatakrishnan have merged their practice with Sapient Wealth. With this merger, Sapient Wealth has five partners and the combined AUA stands around Rs 6,000 crore.
In April 2019, Amit Bivalkar of Sapient Wealth, Pune, Paresh Kariya of Aargus, Mumbai and Pallav Bagaria of Brand New Day, Guwahati had merged their practices to form Sapient Wealth
Talking to Cafemutual, Dhruv said that he along with Roopa have been looking for succession planning and institutionalising their practices.
“We were looking to merge our businesses and create an entity to manage multi generation wealth. Then Sapient approached us. Merger with Sapient gives us the confidence that somebody will look after our clients with the same value system, if something happens to us,” Dhruv said.
Moreover, Dhruv feels that the merger will help them scale up the business and reach one lakh people, a goal close to their heart.
“Both Roopa and me wanted to touch 1 lakh lives. Individually, it looked challenging. With Sapient’s preparedness and agility to scale up business, this goal is very much achievable.”
The rationale for such mergers is to reduce costs by sharing various expenses such as execution platform, software, back-end operations, customer communication, marketing expenses and so on. Among other key benefits are learning and mentoring from each other and better commission structure compared to individual distributors.
