Dhanamartha Financial Services: Facilitating Hassle-free Mutual Fund Investments for Customers through its State-of-the-art Technology Platform
Sumit Goenka
Founder & CEO
Derived from the Sanskrit word ‘Dhanam’ which translates to comprehensive wealth that extends further beyond monetary gains towards holistic prosperity and a peace of mind, Dhanamartha was founded in February this year by financial and investment industry expert Sumit Goenka (Founder & CEO) with a vision to ensure the financial well-being of clients by assisting them to steer clear of any unnecessary risks in their investment journeys.
A certified Financial Risk Manager from GARP and CFA (CFA Institute US), Sumit has over two decades of experience in equity investment and trading. Specializing in Financial Analysis, Risk Management, Hedge Fund Modelling and CDOs, he has worked with multinational conglomerates such as Citibank, Deutsche Bank, Ameriprise Financial and Tesco, to name a few. Additionally, Sumit was also part of the core team that developed India’s first Comprehensive Financial Planning Tool. Under his aegis, Dhanamartha has cemented its position among one of the most trustworthy partners in the country today to make smart and secure equity investments.
“The huge number of distributors that currently operate in the market makes mutual funds a highly competitive segment. Also, many investors are still averse to technology and lack a proper awareness about the advantages of mutual funds, preferring to invest in old asset classes such as FDs, Gold and Real Estate. While the constantly changes regulatory policies pose as a major hurdle for the industry, the biggest challenge in recent times has been from the social media influencers who are unregulated, lack complete knowledge or understanding of the mutual funds space (and client risk profile), and are causing a negative impact on the investors”, says Sumit, expressing his thoughts on some of the challenges currently faced by mutual fund industry in India.
Diverse Financial Products Portfolio
Dhanamartha has developed a nextgen technology platform through which customers can get access to a broad variety of financial products that include mutual funds, fixed deposits, insurance, funding against ESOPs, alternative investment funds, bonds, corporate FDs, unlisted equities, and much more. Additionally, as part of its strategy to further grow its AUM, the company also provides corporates with treasury solutions and liquidity management services, and even helps them make investments globally; for instance, in US equities. Mutual funds being its primary forte,
Dhanamartha’s core strength lies in its philosophy of investing for the long term to derive compounded returns.
Further, Dhanamartha also offers a unique product named Dhanam Salary+ for corporate employees, wherein the salary of employees is transferred to short term funds a day after their salary is credited and then gets deployed over a period of time as per the liquidity needs of the employee. This in turn increases the salary of those employees, as the interest rates for bank saving account is much lower and provide lesser returns (so salary goes up by the differential interest rates). Owing to such exquisite features and benefits, this product has been a favorite among both employees and the HR heads. Additionally, the company has also partnered with well renowned third party AIF providers to ensure that the investors can easily diversify their portfolio and gain access to numerous high-return investment opportunities in the long run.
“Investing has many variables, but one variable that an investor can really control is how long he/she remains invested. We are a full-fledged wealth firm with our offerings around equity, bonds and ESOPs. Be it Debt, Equity, Hybrid or Liquid funds, we offer every kind of mutual funds to our clients. Our platform provides investors with an intuitive, feature-rich dashboard through which they can buy/sell mutual funds and even view & manage their entire investment portfolio, including insurance and fixed deposits. This way, we are striving to stand true to our tagline – ‘Helping You Plan a Brighter Future’ by handholding them throughout the entire investment process”, explains Sumit.
Prioritizing Client Experience & Satisfaction
With client-centricity at the core of all its functions, Dhanamartha leaves no stone unturned to ensure that its customers get only the best quality services. Thus, the company has the highest levels of encryption in place as per the regulatory policies and hosts all the data on AWS cloud to further safeguard sensitive data. Additionally, the company has very stringent compliance frameworks in place across the entire organization in such a way that any kind of PII cannot be accessed even by the employees of the company. Further, the company’s website is SSL certified, and every transaction across all channels is routed through NSE and BSE digital platforms. This way, Dhanamartha ensures that both its website and app are not only user-friendly, but also act as safe avenues for all kinds of financial transactions.
Sumit further adds, “Unlike technologies that are based on the fund performance from the past, our technology looks at every individual holding of a mutual fund and then suggests a fund which are likely to perform better. We strive to maintain complete transparency with our clients and even disclose the commission that we are making as a distributor with various fund houses. Additionally, we are also working continually towards improving the mutual funds ecosystem by educating and creating awareness among investors. In light of this, we are working closely with the corporates to educate their employees about the benefits of leveraging technology to make smart investment decisions. Keeping in mind the investor segment who are not technologically proficient, we also conduct of lot of webinars, seminars and workshops in order to assist them to jump onto the technology bandwagon”.
The Way Forward
When asked about the company’s future roadmap, Sumit says, “Having achieved an AUM of Rs.150 crore since inception, we aspire to be among the top 50 mutual fund distributors in India in the next five years. Additionally, we want to further enhance our customer experience by integrating cutting-edge technologies in such a way that our clients are able to make investments or open an account within a minute. AI and data analytics will be interesting areas for us going further, as we plan to implement them onto our platform and provide customers with a curated list of funds based on their past investment experience and risk profile. Most importantly, we want to further scale our app and develop it into a one-stop destination for all financial products”.
Further, Dhanamartha also offers a unique product named Dhanam Salary+ for corporate employees, wherein the salary of employees is transferred to short term funds a day after their salary is credited and then gets deployed over a period of time as per the liquidity needs of the employee. This in turn increases the salary of those employees, as the interest rates for bank saving account is much lower and provide lesser returns (so salary goes up by the differential interest rates). Owing to such exquisite features and benefits, this product has been a favorite among both employees and the HR heads. Additionally, the company has also partnered with well renowned third party AIF providers to ensure that the investors can easily diversify their portfolio and gain access to numerous high-return investment opportunities in the long run.
Our platform provides investors with an intuitive, feature-rich dashboard through which they can buy/sell mutual funds & even view & manage their entire investment portfolio
“Investing has many variables, but one variable that an investor can really control is how long he/she remains invested. We are a full-fledged wealth firm with our offerings around equity, bonds and ESOPs. Be it Debt, Equity, Hybrid or Liquid funds, we offer every kind of mutual funds to our clients. Our platform provides investors with an intuitive, feature-rich dashboard through which they can buy/sell mutual funds and even view & manage their entire investment portfolio, including insurance and fixed deposits. This way, we are striving to stand true to our tagline – ‘Helping You Plan a Brighter Future’ by handholding them throughout the entire investment process”, explains Sumit.
Prioritizing Client Experience & Satisfaction
With client-centricity at the core of all its functions, Dhanamartha leaves no stone unturned to ensure that its customers get only the best quality services. Thus, the company has the highest levels of encryption in place as per the regulatory policies and hosts all the data on AWS cloud to further safeguard sensitive data. Additionally, the company has very stringent compliance frameworks in place across the entire organization in such a way that any kind of PII cannot be accessed even by the employees of the company. Further, the company’s website is SSL certified, and every transaction across all channels is routed through NSE and BSE digital platforms. This way, Dhanamartha ensures that both its website and app are not only user-friendly, but also act as safe avenues for all kinds of financial transactions.
Sumit further adds, “Unlike technologies that are based on the fund performance from the past, our technology looks at every individual holding of a mutual fund and then suggests a fund which are likely to perform better. We strive to maintain complete transparency with our clients and even disclose the commission that we are making as a distributor with various fund houses. Additionally, we are also working continually towards improving the mutual funds ecosystem by educating and creating awareness among investors. In light of this, we are working closely with the corporates to educate their employees about the benefits of leveraging technology to make smart investment decisions. Keeping in mind the investor segment who are not technologically proficient, we also conduct of lot of webinars, seminars and workshops in order to assist them to jump onto the technology bandwagon”.
The Way Forward
When asked about the company’s future roadmap, Sumit says, “Having achieved an AUM of Rs.150 crore since inception, we aspire to be among the top 50 mutual fund distributors in India in the next five years. Additionally, we want to further enhance our customer experience by integrating cutting-edge technologies in such a way that our clients are able to make investments or open an account within a minute. AI and data analytics will be interesting areas for us going further, as we plan to implement them onto our platform and provide customers with a curated list of funds based on their past investment experience and risk profile. Most importantly, we want to further scale our app and develop it into a one-stop destination for all financial products”.
