Karyam Financial Services: Offers Financial Services For Various Stages Of Life
Nagaraja Sirigeri
Director
As a director, what were the initial challenges that taught you the basic lessons, and how did you manage to succeed in the later phase?
Yes, we have encountered challenges in the financial industry like changes in the regulatory framework, changes in the licensing and educational criteria, reduction in brokerages, streamlining compliance, restructuring or re-categorizing of the funds, introduction of riskometer, moving towards digitalization, and others.
I have taken such changes to improve our services, improve our practices and offerings, and provide higher transparency to clients. The fundamental lesson is that we have to adapt to changes, as that's the only constant in life. Learning continually is a vital part of our culture at Karyam. Along with the previous two learnings, it's essential to create value and an inclusive approach regarding all stakeholders (employees, clients, vendors). This, coupled with practicing transparency, has helped us achieve
success as we went along.
According to you, what are the critical elements needed for successful financial planning? Also, what are the measures you take to assess an organization's financial performance, and what contextual factors do you consider when developing financial strategies for your clients?
We Indian's are good at savings but need to shift from savings to an investment mindset. We consider this to be a part of our mission to bring awareness to all these aspects. This would mean that our customers can make decisions independently, and we facilitate by providing a road map based on the suitability approach.
Every individual and family would require money or financial support at various stages of life to fulfil their needs, wants, and desires. Some needs are common to most families, and some needs are specific to them. So, we provide need-based solutions through a suitability approach. Some of the milestone requirements for which our customers approach us: emergency requirements, family health expenses, kids' education, and their marriage expenses, travel/vacation expenses, post-retirement expenses, and many such expenses needed to fulfill each family requirement.
We also work with organizations and business owners to evaluate with tools we have developed in-house to give them a semblance of where they are headed. A vital aspect of this process is to bring about awareness for them, which could be creating a corpus to manage their business during any contingency circumstances, strategic investment requirements, and many such financial needs to meet their targets.
Share some client stories where you have brought your experience to its best use and helped the client make profits.
We have helped families of young couples who are career oriented by educating them on how they can manage to be debt-free or with well-planned, limited debt. The majority
According to you, what are the critical elements needed for successful financial planning? Also, what are the measures you take to assess an organization's financial performance, and what contextual factors do you consider when developing financial strategies for your clients?
We Indian's are good at savings but need to shift from savings to an investment mindset. We consider this to be a part of our mission to bring awareness to all these aspects. This would mean that our customers can make decisions independently, and we facilitate by providing a road map based on the suitability approach.
Karyam as a company understand the importance of business strategy, goals and objectives, research, and optimization of performance
Every individual and family would require money or financial support at various stages of life to fulfil their needs, wants, and desires. Some needs are common to most families, and some needs are specific to them. So, we provide need-based solutions through a suitability approach. Some of the milestone requirements for which our customers approach us: emergency requirements, family health expenses, kids' education, and their marriage expenses, travel/vacation expenses, post-retirement expenses, and many such expenses needed to fulfill each family requirement.
We also work with organizations and business owners to evaluate with tools we have developed in-house to give them a semblance of where they are headed. A vital aspect of this process is to bring about awareness for them, which could be creating a corpus to manage their business during any contingency circumstances, strategic investment requirements, and many such financial needs to meet their targets.
Share some client stories where you have brought your experience to its best use and helped the client make profits.
We have helped families of young couples who are career oriented by educating them on how they can manage to be debt-free or with well-planned, limited debt. The majority
of their earnings would go towards creating wealth for future needs. Here we have advised them on various protection plans offered by insurance products like term insurance, health/accident/critical insurance, travel insurance, and business insurance products to meet their requirements. This has helped our clients have peace of mind, take a calculated risk, and confident strides in their professional careers. It has truly enabled them to move on to higher summits and challenging roles.
There are also retiree clients who have specific and basic requirements. It can range from having enough funds to cover their living expenses to health coverage with their prevailing financial means. Our corporate clients also have been able to reap the benefits of our financial acumen and experience when the Covid pandemic blindsided the world economy.
As the director of Karyam Financial Services, how do you integrate the consideration and management of risk in strategy setting, achieving goals and objectives, optimizing performance, and managing significant projects?
We as a company understand the importance of business strategy, goals and objectives, research, and optimization of performance. We are backing these up with our human capital and by using latest technology. We have our web portal and mobile application, which helps us make the entire process flow smoother for internal usage and our clients.
We are continually optimizing using live feedback and tech that supports our every step, from onboarding the client, getting their KYC check, completing the online video eKYC process if needed, creating a transaction account, and getting the NACH mandate. This also empowers our clients to make mutual fund investment transactions on their own. Apart from transactions, it also helps create targets to achieve various financial milestones on their own and keeps them updated by tracking these goals as and when required.
Nagaraja Sirigeri, Director, Karyam Financial Services
Nagaraja has Post Graduate Diploma in Business Management (PGDBM) with two significant subjects International Business and Marketing. Before Karyam, he worked with ICICI Bank, Canon, ICICI Prudential Life Insurance, and Standard Chartered Bank. He has more than 15 years of experience in the financial sector.
There are also retiree clients who have specific and basic requirements. It can range from having enough funds to cover their living expenses to health coverage with their prevailing financial means. Our corporate clients also have been able to reap the benefits of our financial acumen and experience when the Covid pandemic blindsided the world economy.
As the director of Karyam Financial Services, how do you integrate the consideration and management of risk in strategy setting, achieving goals and objectives, optimizing performance, and managing significant projects?
We as a company understand the importance of business strategy, goals and objectives, research, and optimization of performance. We are backing these up with our human capital and by using latest technology. We have our web portal and mobile application, which helps us make the entire process flow smoother for internal usage and our clients.
We are continually optimizing using live feedback and tech that supports our every step, from onboarding the client, getting their KYC check, completing the online video eKYC process if needed, creating a transaction account, and getting the NACH mandate. This also empowers our clients to make mutual fund investment transactions on their own. Apart from transactions, it also helps create targets to achieve various financial milestones on their own and keeps them updated by tracking these goals as and when required.
Nagaraja Sirigeri, Director, Karyam Financial Services
Nagaraja has Post Graduate Diploma in Business Management (PGDBM) with two significant subjects International Business and Marketing. Before Karyam, he worked with ICICI Bank, Canon, ICICI Prudential Life Insurance, and Standard Chartered Bank. He has more than 15 years of experience in the financial sector.