GettingYouRich can help you plan your financial future
Gettingyourich (GYR) is a startup offering financial planning services, based out of Mumbai. Launched in August 2012 by Rohit Shah, the firm strategizes personal finance affairs and helps streamline investments of individuals and corporates. The firm also advises on asset allocation and tax issues.Rohit Shah, a Gujarati by birth, could not resist his temptation to startup after proving his mettle with corporates like IBM, Citigroup and Sterlite across domains ranging from technology to banking. However, the void in the personal finance market attracted Rohit to startup on his own and thus GYR was born. Rohit holds a business degree in finance and is a certified financial planner.
Entrepreneurship was not being an easy path, and Rohit was well aware of the hurdles and vaults on the, nevertheless it was a fait accompli. “I had enough savings enough to invest in my operations and business as well as take care of my household. Fortunately, we started making money soon and very rarely faced cash crunch,” shares Rohit. Like most entrepreneurs, he started his office at home.
Rohit has branded the financial plan they offer ‘Merawala’. “We help individuals achieve their target of generating cash within the stipulated income. Given the capricious nature of economy and stock markets, we advise individuals on investment and tax matters,” says Rohit about his offerings. Youngsters, says Rohit, fresh out of the college are unaware of savings and investment perspectives. And GYR helps them compartmentalize their income, suggesting how they should their money, how to save and so on. Rohit has spearheaded a number of seminars at the colleges in and around Mumbai and most of them have been well received and proved to be a good ground to tap potential clients. Most of GYRs clients fall in the age group of 25 – 45 years.
The firm also offers services on risk management for high net worth individuals (HNI). Their Merawala plan has been specially designed for young married couples to help them plan their insurance as well as children’s education. GYR charges Rs 4500 for their services and Rohit says they have kept the price low to make it affordable to youngsters. However, the inclusion of horde of new services and plans have lead them to push up the price plan to twelve thousand rupees. He claims the plan has been well received their customers. Rohit claims their services has attracted more than 60+ clients, some of whom are situated in Australia, UK and UAE. In India, most of their clients come from Tier I and II cities.
While they continue to grow GYR has also been involved in CSR activities from the beginning and Rohit says they have partnered with some NGOs to support their cause. While it was Rohit who used to initially designed plans for the individual, growing customer base has also made him add to his team new financial planners.
Rohit has mostly bagged its clients through seminars, social media circles and referrals. “An entrepreneur makes a lot of mistakes, be it his disinclination towards spending money or taking risks. I have had share of mine too. But I have essentially learnt not to ponder over mistakes, but rather mend them as soon as they are realized.” Started with couple of lakhs, Rohit claims the firm has started generating decent revenues and are operationally profitable. They have plans to move into a new office very soon. “I want to build my own software that takes in the information from the clients and provide an outline for the plan. We also want to get ISO certified and increase the tally of our clientele list to 100,” says Rohit about his vision.
