The Nasik based Mukesh Chotani turned into an advisor on the urging of his fellow actors in theatre! Jayshree Pyasi traces his story from his days in theatre to becoming the President of Nasik Agent Association
The Transition
Mukesh Chotani was working as a Marathi theatre actor in Nasik after his graduation. Coached by the likes of Nana Patekar, Mukesh was looking at a thriving acting career. But destiny had other plans. Mukesh’s logically inclined mind was always good with numbers. A keen observer and investor of stock markets, his decisions and analysis often turned out to be rewarding and he made substantial profit on his investments in the market.
This development did not go unnoticed by his peers. They saw his potential in guiding people to make right investment decisions and they motivated him to start looking at investment advisory as a career.
“My theatre colleagues used to tell me that I am good at understanding the market and guiding people towards right investment decisions. So, why not make it a career? After that I decided to take a plunge,” says Mukesh.
His initial clients were his theatre friends. In 1994 he took up UTI agency and then began a long association with Kothari Pioneer as a distributor of MF products.
The firm and marketing
His advisory firm, Udit Investments has an AUM of around Rs. 40 crore with a higher share of short term funds. Majority of his clients are HNIs and 20% of his clients are from theatre. “The building blocks of my business were theatre artists who later gave referral to their friends and relatives,” recalls Mukesh.
Later he focused on social clubs and NGOs. He is active member of Lion’s Club, Rotary Club and certain other NGOs where he delivers informal lectures on financial literacy. Sometimes those who attend his sessions come to him for guidance and become his clients.
Views on SEBI regulations
Mukesh believes that SEBI regulations are hurting the advisors and investors of tier two and three cities.
“I do not run a fee-based model and haven’t opted-in for the transaction fees because an investor in these cities doesn’t want to and can’t afford to pay fees. The warning that comes up in mutual fund advertisements further discourages investors to invest in mutual funds,” says Mukesh.
Nasik Agent Association
When the advisors of Nasik decided to form an association, Mukesh Chotani with his extensive 17 years experience was chosen to preside over the association. Today, the association represents the interests of 116 members.