Mundada Finserve: Empowering Millennials with Innovative Wealth Management Solutions

Bharat Ramesh Mundada, DirectorIndia is poised to become a hub for young and millennial populations, presenting a unique opportunity for growth and innovation in financial services. Recognizing the importance of savings and investment for this demographic, Mundada Finserve provides comprehensive wealth management services tailored to these needs. Established by Bharat Ramesh Mundada and Komal Bharat Mundada in 2022, Mundada Finserve builds on the foundation laid by its predecessor. The firm operates primarily as an execution platform, providing essential financial tools and a do-it-yourself product kit for easy reference.

"We are certified by NISM as a mutual fund distributor, FI registered, and recently obtained a wealth management certificate from Moody Analytics. To stay updated on market trends and regulatory changes affecting mutual funds, the firm regularly engages with fund houses, fund managers and product managers while also utilizing various media channels such as television, newspapers, and magazines for day-to-day market insights", shares Bharat Ramesh Mundada, Director.

Flexible Investment Platforms

Mundada Finserve offers comprehensive financial services, specializing in mutual funds, corporate fixed deposits, corporate and government bonds, as well as health and term insurance with tax plans, estate plans, and NRI services, which the clients can access both online and offline. Through the
website or the app, customers can create accounts, complete KYC norms, and start investing. Alternatively, the firm provides a physical model where dedicated personnel assist clients with all paperwork and investment decisions based on their specific needs.

"We conduct a comprehensive analysis of each client's investment needs, evaluating short-term and long-term requirements with personalized investment advice based on this analysis. We typically recommend against equity funds for short-term investments and avoid conservative funds for long-term investments. The investment strategy is customized to align with the client's specific financial goals and needs", says Bharat.

Mundada Finserve's investment strategy is entirely customized to align with the client's specific financial goals & needs

Moreover, Mundada Finserve takes a unique approach to wealth management and investment advisory services. The firm ensures 24/7 availability to clients via phone, Whatsapp, or calls, providing continuous support. Unlike many firms, Mundada Finserve avoids cross-selling products, focusing solely on customer needs. It tailors recommendations to specific client requirements, be it for mutual funds or other financial products. The firm's ethical sales practices prioritize client needs over revenue generation; ensuring advice is always in the client's best interest. While past performance is considered, firms often advise investing in areas with modest past performance to identify significant future growth opportunities. This client-first philosophy and strategic, data-driven advice aim to provide exceptional value and growth potential for all clients.

"Our strategy is to transition risk-averse customers, who originally invested in fixed deposits, to multi-asset products that offer lower risk compared to pure equity funds. These products aim to provide returns of 10–12 percent over a three-five-year period. This approach has been successful, with many customers having most of their money in mutual funds and being satisfied with the returns. We expect returns in the range of 12–14 percent, which is considered reasonable given the nominal GDP growth rate of 11–12 percent", explains Bharat.

Finally, over the past two and a half years, the firm has successfully grown its mutual fund AUM from zero to nearly Rs.360 crores, to reach Rs.450 crores by financial year end. By targeting retail, HNI, and corporate clients, especially in tier-II and tier-III cities on Retail and HNI. Plans include enhancing infrastructure and expanding the team to support continued growth across all asset classes, including mutual funds, fixed income, and insurance.