January 2020

Who should be the anchor of your financial journey along with you?

The answer to this question could be as simple as someone "trustworthy", "reliable", "knowledgeable" and "accountable". However, to my mind, the challenge lies in the execution of these rather simple qualities! It is of paramount significance that the above-mentioned characteristics should be present in an individual who is your advisor as well the organization he/she is part of.

In our personal lives, as we grow we attract individuals who have a similar thought process to ours and our universe is created around these relationships. Similarly, for any professional relationship too, the DNA match is of the utmost value as only this factor can result in sustainability. Typically in a situation where you have a financial advisor, there are three major stakeholders- the investor, the financial advisor, and the organization. All the three stakeholders will definitely have independent goals but these tiny beads of goals should be sewn together to construct a purpose that is common to all yet, it serves the larger community. Any goal in isolation would be meaningless, as only integration with the universe gives the achiever a sense of fulfilment and the joy then would be boundless. At Client Associates, the private wealth management firm, our purpose is to be "the ones who would protect and grow the wealth in the society thus endeavouring "to leave the world richer than we inherited" by providing excellent wealth management services. Would this be the goal of any investor bearing any risk profile or of any wealth owner i.e. to leave the wealth they have created or received from generations in a manner that it would grow at a sustainable rate and create a legacy for their Next Generation?

The moment this synchronization of purpose sets in-between the advisor, investor, and the organization, there is a state of harmony. There are no conflicting thoughts that also eliminate the possibility of undesirable action from any parties. This leads to long-lasting relationships being passed on to generations letting them focus on giving back to society in many different ways and not just focusing on managing their wealth as that gets taken care of.

Why do organizations get carried away and give in to temptations, which may be toxic not only to their investors but also to their employees?
The answer lies in the impatience or rush to gain the maximum market share and profitability in the shortest tenure possible. History provides us with umpteen examples of how a patient a brand has to be for it to become a leader in its category- but once you are the leader you drive the market and not just the market share. This can happen only through a rooted thought process and accepting organic growth as a means to an end.

The purpose with which we are driven at CA, the largest multi-family office in India enables us to participate in growing the ecosystem and at the same time co-exist in an efficient manner. Our business growth model gives equal importance to growth from our existing relationships, new relationships, and market growth.

  • Existing relationships are our source of strength and our focus is to grow along with them steadily. This gives us unparalleled joy
  • New relationships are equally important as they reaffirm our faith in our transparent, purpose-driven and non-conflicting model and help us expand our practice
  • Market growth reassures us on the scientific and data-driven processes we have designed and timely execution of the decisions which are an outcome of these processes

As happiness begets happiness, hope begets hope, positivity begets positivity we strongly believe that the thought process we carry shall beget clients and a universe which is in sync with protecting and growing their legacy hassle-free and with utmost satisfaction.

Keywords: Wealth management services, Private wealth management firm, Multi-family office

Pratibha Jain
Executive Director- Wealth
Client Associates, Bangalore
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