Pankaj Mathpal would be a familiar name to those who track the financial world through business channels and publications. Jayshree Pyasi discovers that Pankaj is devoted to the mission and cause of financial planning.
A
post-graduate in marketing management, Pankaj worked in the sales
department of a pharmaceutical company for a decade. Looking for more
challenge and monetary gain, he entered the financial world through a
part-time agency of ICICI Prudential in 2004.
From
the beginning, he wanted to position himself differently from the
traditional advisors. He believed that it was only when the advisors
were seen as experts and not as sellers, they would be able to command
respect. “When I was working as an MR, I was
required to promote products in front of doctors. When I became an
advisor, I wanted to be a doctor who could diagnose a client’s financial
needs and aspirations,” says Pankaj.
His
client centric approach made him impart knowledge to those clients who
lent him a willing ear. In fact, even before he became a CFP (Certified
Financial Planner) in 2009, he was writing plans for his clients.
In
2009, Pankaj set up Optima Money Managers, a firm dedicated to make
financial plans. The firm caters mostly to retail clients. He likes
making the aspiration come true for people who aim high with limited
resources. He guides them on managing cash flows, making budgets and in drawing up the right investment plan.
Pankaj
explains, “We are more into financial planning for retail investors in
the salary bracket of ten-fifteen lakh. HNI generally need a lot of
wealth management. I believe in imparting knowledge about how goals can
be met but not how wealth can be multiplied.”
Writing
financial plans is a passion for him. He turns down clients if they
want to only buy a financial product from him. Though selling a product
would garner better financial incentive but writing a plan is what gets
him excited.
Pankaj
has never been short of clients because of his popularity in media. He
is one of the better known faces in financial space. He is on the expert
panel of ET Wealth and has been writing for Economic Times for a
longtime. He makes regular appearances on CNBC Awaaz and Zee Business.
“Soon
after my CFP, I wrote a mail to Economic Times that I would like to
contribute to your paper. And the same day I received a confirmation
from them to write for their query corner. And from there my media
popularity took off,” says Mathpal.
His
differentiating factor and off-beat thinking is highlighted in his
views about the ideal age for taking risks. “A person who has
responsibility of children and his parents may take less risk than the
man in his late fifties who has independent children,” says Pankaj.
His passion for everything that is finance has trickled down to his six year old son as well. His son is aware of what an ATM is and can name six large banks. He even offers to chip in from his piggy bank when the family is considering a big purchase.