Ritesh Sheth - Next Level Education
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Ritesh Sheth

Ritesh Sheth

Ritesh Sheth, CWM (Chartered Wealth Manager) is one of the leading Financial Advisors running the show at Tejas Consultancy in Mumbai. He has been a friend since long and has always amazed me by his confidence and energy. Although he is a veteran in the business, I would still call him a very young man because of his dashing personality and also the fact that he started business very early. As it happens when you give time, his career too has compounded. In a free wheeling interview we discussed about his story. I was also keen to find out his trade secrets so that others too can get inspired by his success story and embark upon a similar path. But finally it boils down to the basics of being customer oriented and working hard with honesty. While we all understand that, Ritesh has walked this talk.

1) Where you started your business and how has been your business journey?

Investment and Insurance consultancy was formed by Kalpana Sheth and Deepak Sheth in the year 1980. I joined them in 1989 when I was in 9 th std. I started by providing support to them then in 1991-92 I handled the NFO of UTI Master Gain. Thereafter started looking after mutual fund business of Birla, Templeton, ICICI Prudential etc We have come a long way and the biggest job satisfaction comes from the fact that we have helped hundreds and thousands of families in Mumbai in our own small way to help them achieve some of their dreams and aspirations through wealth creation from mutual funds.

2) What did you do to reach here.

  1. Commitment to retail Client even though it is very hard to reach out to such large client base individually.
  2. We developed in house software which was built in 1996 with DBASE 4, and now it is on cloud with investment and Insurance data. So we used database marketing and technology at a time when nobody focussed in this area.

3) Any thing specific which makes you different from the average IFA

  1. We have been conducting investor awareness programmes since the last 17 years.
  2. We have reached out to slum areas, Govt offices, Municipal offices, Police Station, Auto Rickshaw and Taxi drivers, Bus drivers, small shop keepers.
  3. We have been using technology to make our operations more productive. We send reminders, call them to take commitments on future investments, we use software to automatically track their investment and suggest changes to help them personalised there investment as per their needs.

Now we are managing 7000 Clients with average application size of 5000 . We are managing a monthly SIP book of 2500 investors and a monthly SIP amount of nearly Rs 1cr.

4) What is your view of the advisory business in the medium to long run

As we deal with retail segment we took feedback from client on recent development. We realised that they need an investment mentor and guardian to look after their money. It doesn’t matter what people call it. The client is satisfied and does not want us to change our format. When you create relationships, people invest based on their trust in you, rather than the products you sell.

5) What’s your SUCCESS MANTRA for IFAs?

  1. We believe in simplicity we try to remove complexities of life by organising finance with next generation technology
  2. We create clarity and clear vision for products we offer them.
  3. We design investment and insurance strategies that optimize probability of success.
  4. We emphasize lasting relationship therefor our suggestion must stand the true test of time.
  5. We help set and redefine goals as life happens.
  6. We believe in spending more time with clients not in AMC offices
  7. We believe in working for client’s benefits first
  8. We believe in sticking to our opinion and convincing clients if we think it is good for them
  9. We believe in thinking for the long term …

 

4 Comments
  • Amit kumar mahto
    Posted at 04:25h, 25 October Reply

    I met him personally 2 months back…Really hes a man courage, enthu and full of energy…Hes d best example for us..need to learn a lot from him..

  • PRIYANKA WANI
    Posted at 04:59h, 25 October Reply

    Really impressed the way he is doing his work and his innovative ideas .Thank you so much sir for sharing such successful stories it helps me lot doing my working as an Ifa

  • NITIN J POPAT
    Posted at 16:16h, 25 October Reply

    Ritesh is truly a Role model for an IFA.

  • Vikram
    Posted at 05:15h, 26 October Reply

    Lot of things to learn from this story. Thank you for sharing

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