This is an Interview with Sankarsh Chandra, Founder & CEO of Savart, a wealth management platform.
Q. How did your company start?
Sankarsh: It was not a part of my initial plan to start a business or anything associated with it. However, as the journey progressed, I understood that it is important to regularize our vision, create an organization with individuals who will exponentially increase our productivity and thus help reach more people.
Everything happened in a step-by-step manner and the idea was not entirely clear in the beginning. There have been a lot of changes since we began working on the plan.
Q. What was the vision behind it?
Sankarsh: Savart was started with a clear vision of helping people achieve their financial goals by making smart investments. We believe we have stuck to it so far and will continue to do so in the future.
Q. Describe the services that you offer to your customers and in what way they are unique?
Sankarsh: The services offered by Savart are:
● Risk Profiling: It is our constant endeavor to try and understand clients better, thereby giving you the most customized services ultimately. Our unique EFG – Emotional Financial & General Analysis, ask less & understands more. Things were as subtle as the way you navigate our application are analyzed, to understand the way you think and behave with money.
● Portfolio review: We also review the existing portfolios of clients.
● Financial Planning: Having a financial plan helps! Having a direction and drive makes it easy to track progress and achieve goals. Moreover, there is a discipline created.
● Investment Planning: The first step towards making an investment is to create a portfolio of high-quality securities. We also believe that asset allocation is as important as picking the right securities. Hence, we leave this to our intelligent systems and team. The result is a simple, easy-to-use portfolio with clearly defined allocations and investments.
● Buying: It is important to buy the right company or mutual fund at the right price & unfortunately, it takes time to do it. We do the research so you don’t have to. We don’t give tips or picks, we give well-constructed portfolios.
● Re-balancing: The markets & the nature of the underlying businesses are dynamic, it is important to occasionally but systematically review the investments and make necessary changes when required. We do not like making too many changes to the portfolio either, keeping the churn and costs always low.
● Selling: Selling is as important as buying. Emotional decisions made in haste always result in regret. Our systems and experts consider your personal financial goals, needs & the market, company dynamics to make an informed & systematic Withdrawal.
Highlights of our services & work:
● Affordable pricing: Our vision of serving ‘everybody’ is one of the most important aspects of the business. We make constant efforts to drive our costs down to make our services accessible to a larger number of people. Our special discounts for students, farmers and those with poor financial backgrounds are a small part of our initiative in this direction.
● Indiscriminate quality of service: Unlike the industry norm of treating customers based on the revenue made from each of them, our services are designed in a manner so as to render the best of results to everybody, irrespective of the quantum of investment.
● Zero conflict of interest: Savart never ventured into the broking business to ensure that our work is in the client’s best interest. We keep our advisory unbiased by keeping away from broking.
● Extensive research: Savart employs the combination of computing accuracy & human intuition to conduct meticulous research on mutual funds, stock, bonds and other investments.
● Niche customer segment: Savart typically caters to the INR 100 – INR 5,000,000 market that is not served by the larger advisory & PMS category players. It is also a part of our strategy to reach out to rural & sub-urban areas and create investment awareness & help them invest seamlessly.
● State-of-the-art technology: Savart’s intelligent advisory systems scourge more than 1200 parameters spanning everything from corporate governance, ethics to business potential and entrepreneurship of companies. This eclectic research is enabled by deep-learning algorithms & artificial intelligence developed by Savart’s in – house technology team.
● Culture & Principles: Savart is governed by a strong family-like culture and principles that clearly define the transparent & idea meritocratic approach within the organization.
● Diversified investment options: Savart’s research covers myriad asset classes including stock, mutual funds, bonds & gold to ensure that all clients receive a balanced portfolio. We are also working on including private equity & select exotic investments to our asset portfolio soon.
Q. Difficulties that you have faced or you are facing.
Sankarsh: We have faced several challenges throughout the journey of our startup, from financial to product-related. However, the only constant in our business has been our commitment to give the best experience to our clients. This has helped us weather the storms and grow steadily.
The current challenges that we face are with the automation of all of our processes. We have been working on it very closely and have made some progress but a lot of work still Remains.
Q. How your company is helping India to grow?
Sankarsh: I guess it is India which is helping us grow and in turn we believe and hope to add some value to the society. We work with clients from varied backgrounds among whom there are few from not so well to do financial backgrounds. It gives us immense excitement to work with them and help the. achieve their financial goals.
All our team members at Savart also spend quality time in not just selling products to people but also explaining, educating and spreading awareness. I believe this is very important and crucial to creating a financially literate society.
We are and will be doing a lot of other things that will continue to benefit all.
Q. What are your strengths
Sankarsh: My core strengths are:
1. Patience: This is owed to my long exposure of working with long term investments.
2. Energetic: I am always excited about work.
3. Confidence; I am very confident about everything I do but remain open to listen and learn.
Q. Message to budding entrepreneurs
Sankarsh: The single most important message to my fellow entrepreneurs would be to believe in themselves and stay committed to whatever they are building. It is also important to understand that passion is a key element for success throughout the journey. A strong combination of passion, commitment and innovation will ensure that one can make a unique place for themselves.
I also believe patience is very important irrespective of the domain of work. It is a key trait to survive the intense journey of being an entrepreneur. On the contrary, I also believe that it is difficult to pinpoint specific traits, especially because I have seen so many successful people who do not tick some of the above boxes. So, I guess being original is equally important.
It was a nice conversation with dear friend Sankarsh, I hope he will reach more milestones in his Savart journey.
Visit Savart for any Investment Guidance.