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Two top MFDs of Mumbai – Darayas Mistry, Farr Lapp Investments and Parul Kothari, Sangam Investments have joined hands with Happyness Factory, a wealthtech platform led by Amar Pandit.
With a combined AUM of Rs. 400 crore, Darayas and Parul have been successfully serving HNIs and Ultra HNIs including CXOs, business owners, and trusts.
Through this partnership, Happyness Factory is expected to ensure business continuity and enhance investor experience.
Darayas said that this partnership will ensure business succession. He said, “Business continuity and succession planning is critical to business of any size, as a company will always live beyond an individual. It’s not just about serving this generation but also the coming generations. That’s possible only if you have someone who is there to take care of your business for generations to come and ensure seamless transitions.”
Darayas believes that handling clients gets difficult if an MFD grows in size. He said, “As we grow in size, it can become difficult to handle our clients the way we have been handling them. So, to ensure that we grow without affecting the client experience, it became crucial to collaborate with a FinTech platform that can offer high-end services, a better team and a better infrastructure.”
Parul feels that collaboration is the way forward for the financial distribution industry. She said, “The mutual fund industry was nascent until a few years ago but strategic collaborations like this are proof that collaboration is the way forward. To ensure world class processes, transitions and maximum growth, larger outfits are required with more specialized services.”
In addition, she said “It’s not just business continuity. It’s also investment continuity and that’s not possible without an effective continuity plan. Happyness Factory’s team is delightful to work with (they are wonderful people) and I feel this partnership will not only benefit us but also our clients.”
“We are super excited to have Darayas and Parul join our Happyness Factory Family. We loved the way they care for their clients. We also loved the way they were honest about their challenges, their clarity of thinking in terms of what they were looking for and more importantly their quick decision making,” said Amar Pandit, Founder, Happyness Factory.
