The Genesis of PPFAS Wealth

It all began with a conversation... 

At an event hosted by us around the beginning of last year, we noticed that a long-standing client who was usually cheerful, was unnaturally despondent. On our inquiring, she mentioned that at the behest of an investment advisor, she had invested a certain sum of money in the debentures of an upcoming company. While the investment was offering her a good yield, she had recently discovered that it was also quite illiquid. This resulted in her being unable to sell the same for the purpose of paying her daughter’s college fees. She exclaimed sadly that she now had no option but to redeem units in one of PPFAS Mutual Fund ‘s schemes to bridge this shortfall.

Another client aged around 60, who overheard this, said he too was facing an issue. In order to help his brother-in-law achieve a sales target, he had purchased an Endowment Insurance Policy maturing 30 years from today. Apart from the estimated returns being an abysmal 4% per year, he would only receive around 30% of the current value in case he chose to opt out of this Policy today. He was in a dilemma as to whether he should bite the bullet today or remain invested in a low-yielding investment.

The first client then reminded us about PPFAS’ credo of creating high net worth individuals rather than chasing them and jocularly remarked, “Now that you have made me one, perhaps you could assist me in managing my money”

Looking around the room, we felt that many more of our clients may be facing such issues. For them, it was not a dearth of money which was the cause of their angst. It was a dearth of good advisors who helped them avoid pitfalls which many of them were prone to

Could we not serve them? They had trusted us to create wealth for them. Would they not be open to us helping them protect, preserve and nurture this wealth? And, if satisfied, would they not happily recommend us to others who were in such need?

This thought sowed the seed for PPFAS Wealth… A division which would aim at extending the good work undertaken by PPFAS Limited – in its stockbroking, Portfolio Management and advisory services - since 1992, or through its wholly owned subsidiary, PPFAS Mutual Fund since 2013.

This is what we noticed as we scanned the landscape:

• A siloed approach to managing wealth, which often prevented clients from having a bird’s eye view of their overall financial position.
• Undue focus on investment products, with less attention being paid to other important aspects such as estate planning and insurance.
• Suggested products - while being good in themselves - were sometimes, not aligned with clients' goals.
• Clients were not always fully informed about the total cost (upfront and recurring) of the product being recommended.

In other words, while clients were seeking financial doctors, they usually came across financial chemists who sought to cure by providing whichever medicines they had in stock, rather than the medicine best suited for the client.

PPFAS Wealth aims to be that financial doctor who will prescribe the solution most suitable to the client.

Such a solution will be arrived at after examining the complete picture… just as a doctor decides after reviewing the entire medical history of a patient.

Our solutions will be simple, and our fee structure very transparent.

Integrity and competence are the two pillars on which PPFAS Wealth will rest upon.

Just as the greatest joy for a doctor is to see a patient who is cured, we will derive the greatest satisfaction when we witness our recommendations playing their part in promoting our clients’ financial well-being and consequently, enhancing their peace of mind

Today, as we take the first steps towards revitalizing our Advisory division, we are keenly aware that we are standing on the shoulders of PPFAS. 

At this moment we pledge that none of our actions will tarnish this great legacy bestowed upon us... and we will always ensure that it is client-first!