I won’t lie that I had a “smart financial expert” upbringing or was very passionate about finance from my childhood. Neither I had a “Rich” dad nor I lived in the company of some great financial gurus. Although I was born in a Rajasthani family but I was never spoon-fed the Marwari traditions of managing money. I was new and raw to this world where billions change hands every day.
It was in 2000 and I had just started my first job at a financial advisory company on Rs 1000/- pm salary, driving from one end of the city to another on my father’s scooter, I knew sales job meant traveling long distances in short time. If it takes sacrifice to show what you are today than this was the time I had just left a campus placed job in brand management (of electronic goods) field, a salary of Rs 11000/- and my girlfriend in another city (she was campus placed too in the same organization and actually we could have moved in together). So this is how my journey started…
For the next 14 years till today, I was privileged to see the 3 Dimensional image of the financial world. In real or 2D world you see only two aspects of a financial product and these are- you have a need and someone, usually a middleman, an agent or financial planner cater that need. You have savings and need regarding safety, return expectations, time of investment etc… The advisor takes consideration of your requirements and selects the best product for you… not the solution. In the third dimension, the Savings and Need exist but the advice gets contaminated because of the third dimension called greed. Yes- the advice is biased or there is an absence of advisory. Poor investor becomes the scapegoat and his concerns are sacrificed.
There are good stories also… I have seen advisors turning down offers which will bias their advice. I have seen financial planners turning someone’s life. Goals being fulfilled, prosperity, client turning wealthy and stress-free. I have seen advisor going an extra mile and even at the risk of spoiling his cash flow and relation, he stops investor from committing a blunder.
It’s a huge sea… where sharks and dolphins swim together.
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Moral of the story…
If you know pros and cons of a thing it’s your responsibility to educate. The gap in the financial advisory is wide because investors are not informed. They do not know what they are subscribing to… they do not hire right people and above all they do not ask right questions.
Here comes the importance of Knowledge. Investors do not need to be an expert in finance but he should have the conventional wisdom to know what’s wrong and what’s right. He should be smart enough to know when he is taken for a ride.
And… that’s what I do …
When I know something I want to spread it, make people aware so that no more financial lives are sacrificed and no more scapegoats.
This blog is my way of imparting my experience of the financial world, sharing the insights, gaining the wisdom and exposing the truths… yes, the dark ones too.
Role of thewealthwisher.com
- Making you responsible and sensible because it’s your money… the buck starts here and everyone is hawking on it.
- Enabler- Will make you take decisions and own them… will pat you for success and make you learn from mistakes.
- Have patience… be disciplined…let go things… be stress-free may be theories but will have an important place in your financial life…
- Bursting myths, decoding jargons and exposing unhealthy practices of- Investors, Advisors and Companies engaged in selling personal financial products.
- Sharing success stories, enablers, knowledge initiatives and innovations of- Investors, Advisors and Companies engaged in selling personal financial products.
It’s a long journey ahead and I welcome you as my companion… as you surf various pages of thewealthwisher.com
With all regards
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The Wealth Wisher blog was founded by Radhey Sharma – I thank him from bottom of my heart for trusting me to take his creation ahead.