The man behind India's 7000 people's Financial Freedom: An up-close with Sharan C Patil, Managing Director, Inspire India Financial Services
"Financial Freedom Is My Birthright" is my tagline…Mr Sharan Patil laid open during the interview. Driving the helm of Inspire India Financial Solutions Pvt Ltd as the Managing Director, Sharan is an accomplished executive and an identified expert in Financial Investments Planning (TFIP) and Portfolio Manager. Avowed for his deep understanding of the distribution practices and its challenges, he has had been the guiding light and an experienced trainer for more than 10,000 people till date across major Indian cities and towns in the arena of variety of investment instruments such as stocks, mutual fund, commodity, forex, insurance & real estate and taxation gains. The foundation of his career was laid with starting off as a Financial Analyst with IEC (International Commodity Exchange) where he has managed big commodity portfolios. Later, he stepped into the entrepreneurial world by incorporating Inspire India Financial Solutions Pvt Ltd with the aim of providing one-stop investment advice for investing in equity, mutual funds, systematic investment planning (SIP) and Total Financial Management to his clients. Adhering to visualize his goals in order to see them materialize and positivity towards life, Sharan is driven by passion to empower people to become financially independent. He and his highly qualified team take keen interest in providing its customers with personalized investing advice into well balanced portfolio. "Dream Big, Execute Smart, Be Honest" has been his success mantra.
An aeronautical engineer by qualification, he hails from Gulbarga where he completed his pre-university school. He later enhanced his education with a MBA in Finance in the year 2009.
While wearing the hat of an entrepreneur, he also conducts transformational training programs with well known corporate and Govt. organizations. Taking out some time form his busy schedule, we interacted with the dynamic leader to gain insights on Inspire India Financial Services' journey.
Consistently Winning the Highest SIP sales (South Zone) – What keeps you going?
For me success isn't a destination but the journey itself. That's what makes it so exciting. This present model of ours took shape and has evolved over the past 15 years.
It all began as personal life transforming programs. But the financial decisions and financial management are the key areas that could reflect on the quality of anybody's life. Eventually we realized that money is inevitable and most people's worries revolved around money and they weren't sure whom to approach in order to find solace to such issues. That's when we decided to bring in financial awareness programs. We conducted educational programs on personal financial management. These were followed by wealth checks or financial planning for individuals and then goal based investments. We received a lot of appreciation for this and that's when we understood the missing link and continued our efforts in that direction. We got better with each program and today it's one of the major contributors to our ever increasing clientele which stands at around 7000 now!
Thru this model we could fill the gap and provide the one-stop platform for people to plan and invest. The major reason why we are so successful is we took the client-first approach instead of being product-centric. We were sure that if we made our clients create wealth we would always be winners. That's the story behind all the awards that we've been recognized with for all these years. End of the day it is the satisfaction of showing the right direction to people to achieve a financially healthy life that motivates us to reach out for more.
What about your statement, "Honestly, Wealth is Health"?
In India its very common to hear phrases like "Money isn't everything", "Money is not all that important", "Money can't buy happiness", etc, mostly statements made by the middle class which struggles the most to make the ends meet. For such people big money is either created illegally or by sacrificing one's happiness which are mere assumptions. "Money isn't everything but its next to oxygen", this was quoted by none other than Warren Buffet himself.
It's very obvious in these days that you require both time and money to maintain a healthy lifestyle. It could be going to gym or a health club or a rejuvenating retreat. You'll find time to do these only if you have the money. So financial well-being is very important for a healthy life!
Enlighten us with the concept of Financial Freedom.
We got our political freedom in 1947 but how many of us are truly financially free? Financial Freedom to me is having the time and money to accomplish our goals and dreams. How many people truly enjoy their work and are doing what they're passionate about? Most of the people are forced to work and take up jobs that support their financial needs. How would it be to not worry about the finances and do what you actually love to do, at-least at some point of your life? It's not retirement. It rather gives you the freedom to do what you enjoy doing without worrying about the expenses. We help people understand this and plan accordingly. That's what financial freedom is all about.
What is the right Age for investing?
Its like asking the right age to plant a tree! The right time is now!! The moment you realise the importance of investment, you should start.
Ideally, we recommend people to start their investments at an early age. It need not be a big amount. Even a small amount like Rs 1000 a month invested over a long period can see immense growth due to power of compounding. This is considered as the eighth wonder of the world – one who understands this earns. One who doesn't, pays for it.
Long term investments in asset classes like equity, real estate and gold are very good options for long term to maximise the benefits. Also, starting early will prepare you well for the major upcoming goals like children's education, buying house, holidaying and finally the retirement. Starting early means the time gap works in your favour while late starters have to put in more money to see similar results.
From Aeronautics to Personal Finances, how has been the journey?
The shift was certainly not a conscious decision. It was purely by chance. Aviation industry was going thru tough times back then with not many openings. That's when I happened to read the all famous book "Rich Dad Poor Dad" which inspired me into personal finances. Coming from a middle-class family I could relate to what the book said and how it's just the mind-set that makes the difference. Neither my background nor my education was tuned to create wealth. So I slowly started making changes in all possible ways like my knowledge, communication skills, self esteem, and confidence. I also attended a workshop which helped me realize my true potential. Meanwhile a friend introduced me to commodity trading, after which there was no looking back. I took up qualifications to support me in this direction. A host of related seminars, workshops and conferences came handy in understanding the nuances of the industry. Meeting some of the well know fund managers like Nilesh Shah, Madhusudan Kela broadened my perspective. I treat them as my mentors. Reading about Warren Buffet, Robert Kiyosaki was one of my favourite pastimes. I'm very passionate about conducting workshops to educate people on financial matters. And the most overwhelming moment is when I see profits in my clients' portfolios.