Alok Dubey: A Dedicated Financial Planner Helping Clients With Finance Management Through Prime Wealth
Alok Dubey
Financial Planner
In an exclusive interview with CEO Insights, Alok shares his professional background, what differentiates Prime Wealth from its competitors, and much more:
Shed some light on your professional background and experiences. What was your inspiration behind venturing into the wealth management domain?
I am an engineer by education. As my father has been into wealth management since 2004, I have grown up being in and around his office. Seeing my father bringing value to many people's life by giving the right financial advice made me interested in wealth management as a space. So, as soon as I completed my engineering, I decided to join my father and help him grow the firm as well as help the existing customers and investors manage their money better. I also decided to pursue my CFP (Certified Financial Planner) certification and after its completion, I not only provided consultation on investment but also started looking at the entire financial planning process.
Being associated with the Financial Planning and Advisory Industry since the age of 12, what are some of the expertise you have acquired so far? How do you apply them in your current role?
Since my childhood days, when I used to hang around my father’s office, I have seen people coming to my father with their financial problems, which helped me understand what kind of financial mistakes people make. The majority
of the time, it’s not the theoretical knowledge that works in real life.
Over the period, repeatedly experiencing the way people practically handled their lives or the decisions they made during a financial crisis or what made them earn huge amounts of money instead of failure helped me with the majority of my practical learning. So presently, we apply the same learnings for the new clients coming on board as well as we make sure that they make the right decisions while avoiding those mistakes.
Define PrimeWealth as an organization and its position in the industry? What are the organization’s unique propositions that it offers to its clients
When it comes to genuine financial advice, Prime Wealth has been very honest and unbiased since its inception and that has always got us more clients. When it comes to growing our client base, we have never done any kind of marketing and it has the referrals and our existing client’s positive word of mouth, which has earned us new clients. Providing financial service in the client’s best interest has been our motto since day one.
For us, the financial well being of our clients comes first and we only recommend the best to the by first putting ourselves in their shoes. We only make people invest in products where we have put our own money, which has been our philosophy since day one. We have always encouraged my clients to be in a position to maintain their worklife balance efficiently. For many of our clients, we have managed their money in such a way that instead of retiring at the age of 60,they are retiring five or 10 years before and that is where true financial freedom comes. And that is how we help our clients.
Compared to other financial ventures, where they sell only a certain kind of product, we, at PrimeWealth, have a 'Goal Based Financial Planning' approach.. While onboarding a client, we look at their entire holistic life instead of just focusing on the investment part. Sometimes clients need help when it comes to managing their taxes or estate planning or insurance-related issues or getting their will drafted and so on. So we try to be a one-stop solution for all of those types of financial needs and provide
Over the period, repeatedly experiencing the way people practically handled their lives or the decisions they made during a financial crisis or what made them earn huge amounts of money instead of failure helped me with the majority of my practical learning. So presently, we apply the same learnings for the new clients coming on board as well as we make sure that they make the right decisions while avoiding those mistakes.
Being genuine, honest as well as unbiased when it comes to providing any financial advice has always been my success mantra
Define PrimeWealth as an organization and its position in the industry? What are the organization’s unique propositions that it offers to its clients
When it comes to genuine financial advice, Prime Wealth has been very honest and unbiased since its inception and that has always got us more clients. When it comes to growing our client base, we have never done any kind of marketing and it has the referrals and our existing client’s positive word of mouth, which has earned us new clients. Providing financial service in the client’s best interest has been our motto since day one.
For us, the financial well being of our clients comes first and we only recommend the best to the by first putting ourselves in their shoes. We only make people invest in products where we have put our own money, which has been our philosophy since day one. We have always encouraged my clients to be in a position to maintain their worklife balance efficiently. For many of our clients, we have managed their money in such a way that instead of retiring at the age of 60,they are retiring five or 10 years before and that is where true financial freedom comes. And that is how we help our clients.
Compared to other financial ventures, where they sell only a certain kind of product, we, at PrimeWealth, have a 'Goal Based Financial Planning' approach.. While onboarding a client, we look at their entire holistic life instead of just focusing on the investment part. Sometimes clients need help when it comes to managing their taxes or estate planning or insurance-related issues or getting their will drafted and so on. So we try to be a one-stop solution for all of those types of financial needs and provide
financial advice in the best interest of our clients.
What are some of the major challenges you have experienced in your journey so far and how did you overcome them?
Financial planning is an industry where the client will be able to understand your value only in the long run. So they need to stay associated with you for more than 3 to 4 years to experience the value of a financial advisor. However, the biggest challenge has been to convince people that they need a financial advisor. All of us make mistakes when it comes to finances or money management.
But many people are ignorant about the fact that they are in a deep financial mess and they need an advisor to pull them out of it and also guide them for future wealth management. When it comes to their finance, people go for risky options such as investing a lot in real estate and so on. What they don’t understand is that along with big returns, those investments also come with huge risks. We try to help our clients on those levels first and help them with positive as well as secure financial investments.
How do you maintain a perfect balance between your personal and professional life? What has been your success mantra?
To be honest, I love my profession and when it comes to maintaining a work-life balance, it has never been a challenge for me. Being an independent firm, we run it on our own and there has never been a case where we have to meet deadlines or anything of that sort. Being genuine, honest as well as unbiased when it comes to providing any financial advice has always been my success mantra.
In terms of goals, we are presently managing somewhere around 200-300 families through our firm. My goal is to be able to cater to at least 1000 families and help them prosper when it comes to wealth in the next 5 - 10 years.
Alok Dubey(Financial Planner)Prime Wealth
An engineer by education, Alok Dubey has been learning about Investments and Equities since the age of 12 at his father's firm and is also a Certified Financial Planner. Through his Organization Prime Wealth, Alok has been providing services related to financial management as a one-stop solution for all the financial needs of their clients.
Hobbies:Playing Video Games, Spending time with Family
Favorite Cuisine:Indian
Favorite book: The Psychology of Money by Morgan Housel
Favorite Travel Destination: Singapore.
What are some of the major challenges you have experienced in your journey so far and how did you overcome them?
Financial planning is an industry where the client will be able to understand your value only in the long run. So they need to stay associated with you for more than 3 to 4 years to experience the value of a financial advisor. However, the biggest challenge has been to convince people that they need a financial advisor. All of us make mistakes when it comes to finances or money management.
But many people are ignorant about the fact that they are in a deep financial mess and they need an advisor to pull them out of it and also guide them for future wealth management. When it comes to their finance, people go for risky options such as investing a lot in real estate and so on. What they don’t understand is that along with big returns, those investments also come with huge risks. We try to help our clients on those levels first and help them with positive as well as secure financial investments.
How do you maintain a perfect balance between your personal and professional life? What has been your success mantra?
To be honest, I love my profession and when it comes to maintaining a work-life balance, it has never been a challenge for me. Being an independent firm, we run it on our own and there has never been a case where we have to meet deadlines or anything of that sort. Being genuine, honest as well as unbiased when it comes to providing any financial advice has always been my success mantra.
In terms of goals, we are presently managing somewhere around 200-300 families through our firm. My goal is to be able to cater to at least 1000 families and help them prosper when it comes to wealth in the next 5 - 10 years.
Alok Dubey(Financial Planner)Prime Wealth
An engineer by education, Alok Dubey has been learning about Investments and Equities since the age of 12 at his father's firm and is also a Certified Financial Planner. Through his Organization Prime Wealth, Alok has been providing services related to financial management as a one-stop solution for all the financial needs of their clients.
Hobbies:Playing Video Games, Spending time with Family
Favorite Cuisine:Indian
Favorite book: The Psychology of Money by Morgan Housel
Favorite Travel Destination: Singapore.