After carving out her niche among the High Net worth Individuals in Agra, Shifali Satsangee has big plans to go retail. Read on to discover how Shifali has established herself so successfully in the financial advisory field
Shifali had always wanted to be a businesswoman. This is what drove her to initiate her mutual fund and portfolio management business. “My husband and I took a far sighted approach as we wanted to realise our full potential. While looking out for opportunities, we saw an opportunity in mutual fund and portfolio management as there were not enough professionals in it,” recalls Shifali.
This led to the launch of Funds Vedaa in 2002. After much deliberation, the firm took two key decisions. One was to focus on HNIs and the other was to create is USP which was to provide all financial requirements - from taxation and accounting to portfolio management.
“I started by catering to the existing clientele of my husband’s firm Sahib.P.Satsangee & Co and then expanded my horizon by looking at other potential clientele. Our USP has been to provide taxation and accounting as parallel services along with our core business. We have focussed our energies on delivering value added services so that we are perceived as different from the rest of the market,” says Shifali.
However, being a woman IFA, she faced a few road blocks. Most of her prospective clients were men and to convince them to invest was a little difficult. “People don’t take women IFA seriously as they doubt the competence of women in financial matters. I used to emphasize on a rigorous process of investment research and extensive investor profiling help them in asset and fund allocation. That is how I gained their confidence and made them comfortable,” claims Shifali.
Shifali believes in staying in touch with her clients. “I usually meet my clients once a week. We also proactively review client portfolios and asset allocation regularly. We currently have 20 clients with us. We have expanded the clientele base through reference from old clients,” says Shifali.
Shifali is proud of the fact that her first client is still with her. Shifali claims, “We customize the client portfolio according to the goal, requirement and risk profile. This leads to better results and generates greater client satisfaction.”
The firm is revising its business model by shifting its focus from earning revenue per transaction to revenue per customer.
The firm plans to leverage the digital space to grow. It is establishing its presence on social media network – Facebook and Twitter as there has been a fundamental shift in the way the world now communicates. It is also looking at launching its website in next three months. “We are trying to leverage the power of technology and making use of digital revolution to expand our frontiers, “says Shifali.
Three years down the line, Shifali wants ‘Funds Vedaa’ to be recognized as a respected brand by earning goodwill and establishing credibility in the retail segment as well. The firm plans to go retail in a big way and is looking to one or two more branches in Agra.
The retail strategy of the firm is to organize many customer awareness programs and reach out to clients from different geographies by utilizing the digital technology. “We would make our presence felt by sponsoring events that support good cause,” says Shifali.