How a Lucknow-based jeweller streamlined his cluttered portfolio of 27 mutual funds and 9 insurance policies
Subscribe to enjoy similar stories. Twenty-seven mutual fund schemes, three endowment and six moneyback life insurance policies. That was what Anurag Kesarwani's financial portfolio looked like until 2023.
Over 40% of his annual expenses went into paying the premium for the nine insurance plans, another 40% towards mutual funds, and the remainder for household expenses. Coming from a traditional Lucknow-based business family, the major focus for Kesarwani, 39, had always been the core jewellery business. "Once I joined the family business, I continued with our traditional way of investing via fixed deposits, insurance policies and mutual funds.
Our family worked with two mutual fund distributors and my father knew an insurance agent via whom we invested in insurance policies," he said. And then, things changed. Kesarwani said there was always a niggling doubt about his investment portfolio.
Enter Sahaj Money, a registered investment advisory firm founded by Abhishek Kumar. Kesarwani's financial portfolio took on a new direction. He surrendered half of his insurance policies and is now invested directly in only four mutual fund schemes.
"I am an engineer by education and jeweller by profession. I knew something was amiss in the way our family invested. Around covid-19, I channeled my energy into understanding the investment world.
I happened to watch a video by M Pattabiraman of Freefincal, in which he talked about fee-only financial planners. I checked out the suggested website and eventually chose Sahaj Money for my financial advice," said Kesarwani. Kesarwani and his wife Sneha (36) have eight-year-old twin sons and a one-year-old daughter.
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