Krishna is a very jolly and happy go lucky kind of person. He always keeps the mood upbeat of the people around him. With an MBA in general management, Krishna holds ample expertise in IT strategy, project management, leadership and resource management. He is a serial entrepreneur with a couple of startups under his name.
Rahul is also a successful serial entrepreneur and has established Pune’s best training center for DW/BI/Big Data. He has a BE in electrical and electronics engineering. He started his career as a software developer and went on to successfully launch a couple of startups. Both of them came together and founded a company, finvestor.in. It connects Financial Advisors with Customers seeking Financial Advice. Finvestor.in aims to change the fortune of financial investors in India, by providing them access to investment advice as per their needs and hence resulting in a sustainable and bright future.
Please provide a brief overview of your product/ service.
We are a marketplace for financial advisers. We offer two products for financial advice for customers:
One interaction with advisers for financial queries, which has free and paid. Fee the only advisory is as mandated by SEBI and provided only by Registered Investment Advisers (RIAs). Here a customer pays fees to the financial adviser so that unbiased/commission-free advice can be delivered. The advisers do not sell products but provide detailed insight into the financial journey of a customer.
Second service, currently free is the robo-advisory, which gives instant answers to questions posted by a customer. We are more into the personal financial advisory space and not the daily equity calls, trading calls space (though we have advisers listed who provide such services)
What inspired you to build the above product/ service?
finvestor.in aims to provide unbiased financial advice via SEBI Registered Investment Advisers and via automated Robo-Advisory. This will be as against the current practice of misselling of financial products by agents.
I have been a victim of commission motivated selling of financial products (ULIPs in the mid-2000s) and I have seen many of my friends and relative fall victim to financial products that do not provide any benefit to the customer.
What is your life mantra?
Life is short, live it full.
What was the most challenging part of your journey till now?
We sell a service – financial advice – selling a service versus selling commodity products online is the biggest challenge. A commodity product, such as T-Shirts, Table etc, is easier for the customer to understand, whereas when it comes to the fee-only financial advisory, people are unsure of what they would expect to get. To prove the value proposition for the customer takes time. A service also cannot be discounted as in as of a commodity product.
How did you overcome those challenges?
We are in a new area of the fee-only advisory. This concept exists in the developed nations, but it is new in India. We are also introducing Robo-Advisory using new age technology. When it comes to financial advisory, investors have been cheated and often avoid talking to an RIA assuming that the RIA to be yet another commission-agent and that it does not make sense to pay and get cheated. We are building social media blogs, offline training sessions to educate a small, yet, early adopters of people who we believe can spread the cause of fee-only advisory. We also have brought in the robo-advisory for free to encourage people to learn more about personal finance. We are seeing traction in the free advisory space and we are confident that people will shift to the fee-only advisory soon.
Share some details about the investments that you have been able to fetch for the business till now.
We are bootstrapped.
How do you protect yourself from the problem of Brain Drain?
We are a lean startup. We employ people on contractual terms. The IT development was executed via a freelancer; several market research was done by connecting with IIM Rohtak. Social media marketing was also outsourced.
According to you, what are the three qualities an individual must have to achieve success?
Humour – Helps you conquer anything.
Ethics – Helps you to be known for the right cause
Passionate -Unless you are passionate about something, you don’t get results
Which online tools/ services/ apps do you use the most and would like to recommend as well?
We are using Microsoft Azure and pretty happy with them
Share any one habit which you think makes you more productive.
Working as per my body clock – rise early and sleep early.
Share any one habit which you wish to change in yourself.
Improving which task is more important than the other.
Answer in less than 50 words
Work hard towards what you want.
- One mistake you believe every individual must avoid:
Not thinking about a Plan B
- One most important lesson that you have learnt till now:
If you don’t believe in yourself, nobody will.
What are your plans for next 3 years?
Working towards creating unbiased financial advisory and enabling wealth creation for all; Traveling the country and world and explore places
If you get a chance to start your career again what would you do differently this time?
I never regret any decision I take, all decisions have been either well thought or due to situations that I had no control over. My suggestion would be never to look back, but understand the best opportunities that today may provide.
What are your top three getaway destinations?
Mountains, Beaches and countryside – essentially anything that connects me with nature.
Share a quote that inspires you the most.
“Too many of us are not living our dreams because we are living our fears.” —Les Brown