Starting in 1994, Akshar Investment Services has grown to be a Rs. 100 crore advisory firm. Jayesh Salvi, owner of Akshar tells Jayshree Pyasi that this was made possible only through dedication and commitment to clients
Jayesh Salvi and Vaishali Salvi started their financial advisory firm Akshar Investment Services in 1994 with a lot of enthusiasm. The christening of their firm as ‘Akshar’ was one of the memorable moments of their life. “We wanted to name our firm ‘Akshar’ as it signifies the beginning of many things,” says Jayesh.
After completing his B.Com degree, Jayesh forayed into equity markets. In spite of a degree in CA, he wanted to establish his own advisory firm. An urge to do something different was shared by his wife Vaishali and it was their collective passion that gave birth to Akshar.
Jayesh has been in the financial advisory services for more than a decade and half. He describes his journey in financial advisory as a “fruitful one.” The large number of awards and certificates that adorn the office are a testimony to Akshar’s commendable work.
In his 16 year long career, Salvi has accumulated an impressive AUM of Rs 100 crore. Akshar’s client base is largely composed of retail clients. Salvi attributes his success to the fact that he has always made client benefits a priority. His investment model is not a fee-based one. “An investor who comes to me with a sum of twenty thousand cannot be expected to pay a fee on that. He is seeking to increase his assets through investments, not to lose a part of his money as a fee to a financial planner,” says Salvi.
Jayesh believes in using latest technology to gain an edge. He uses his own software to profile clients and develop portfolios.
Salvi is among those IFAs who complied with the guidelines as soon as they were introduced. “When the entry load ban was imposed I accepted it and worked towards the benefit of my clients. Similarly, when AMFI announced the KYC norm, I notified all my employees and clients that it will be effective from January 1, 2011. I have already completed my KYD formalities,” says Salvi.
Salvi is proud of his small and efficient team. The team multitasks and advices clients on all types of investments. Salvi and his team make a thorough understanding of client needs. “If we find that a client is without adequate insurance cover, we do not advise him on stocks or MFs,” explains Salvi.
Akshar’s reputation has been built on the trust of its clients. Salvi is proud of the fact that his first client has not only stayed with him but has given over a hundred references. Today, he acquires most of his clients through referrals.
His office at CBD Belapur is frequented by aspiring advisors appearing, seeking a prosperous career for themselves. For the next generation of financial advisors, Salvi suggests, “The new IFAs should be clear with their clients. They should look to build credibility in the market before expecting profits.”