It was in the mid 1990s, history records, India had implemented full economic and commercial liberalization, and leading to several reforms, the country had experienced an increase in foreign investment and high economic growth during 1990- 2000. With the participation of several domestic and international players in the market, culmination of numerous mergers, acquisitions and consolidations in the market, the new millennium witnessed a robust growth in GDP. However, in the face of overwhelming globalization, we soon realized that the system that plays a significant role in supporting the economic growth of the country, is the strong financial services sector. The whole sector witnessed a stellar expansion and growth in the following decades. Financial consulting/ advisory services to the retail clients, responded to this call of the times and played a decisive role in shaping India’s growth story.

Over the last two decades, financial consulting space has indeed covered an impressive distance from being a mere bookkeeper and basic tax advisor to becoming an expert solution provider across an array of services needed by individuals. As we adapt to the new normal, where women are making their presence felt in diverse services as well as boardrooms , financial consulting segment is no exception. Today, we can find many women leaders determinedly leveraging intellectual financial advisory to their clients. Outshining amidst several such professionals, Chaitali Dutta (Founder & Owner, Azuke Personal Finance Advisory) is a trailblazer in the personal financial consulting sector who challenges any remaining scepticism about a woman’s competence by providing valuable and objective financial advice. Chaitali believes that her empathy for her clients, focus to deliver exceptional service, coupled with her over 30 years of experience in the financial sector, is the secret to Azuke’s success. In an exclusive conversation with CEO Insights, Chaitali gives readers a sneak peek into her role at Azuke Personal Finance Advisory and how it caters to the needful.

What Is Azuke Personal Finance Advisory? Brief Us About The Inspiration Behind Establishing The Company. Also, Mention The Challenges Encountered.

Azuke is a boutique personal financial advisory firm focussed on financial wellness of the family unit. We thoroughly understand the client’s situation, aspirations and risk-taking capability as the first step. Our advice therefore is moulded to suit the particular client and is developed individually. We therefore standout amongst the sea of financial product sellers for whom the motivating factor is a sale rather than the suitability of the product to the purchaser. We bring a family from scattered, directionless investments into stable, disciplined finances and making them future ready.

“Azuke is a boutique personal financial advisory firm focussed on financial wellness of the family unit”

I observed the gap between what people needed and what was in offer by the product-driven Indian financial markets. Agents/ Distributors ruled the market, and the end users were often duped by smooth talking sellers who were driven by commissions. Hence, I ensconced Azuke as a crusade to talk for the client. I understand that building a relationship based on trust is the hallmark of a sustained, long-term association, hence associating the clients with our proficient Certified Financial Planners (CFPs), we together try to understand the psyche and mental profile of the client, and offer a solution exclusively aligned for them. For each client, the advantage of unbiased and correct advise is multiple times the value of the fee paid in retainership. Our model is truly efficient. We are an ideal proof of it. We also have a Chartered Accountant and a Certified Financial Analyst in our team who bring their expertise to the table to provide a holistic, well rounded advisory to our clients.

The mindset of the Indian audience is to get free advice. Always having viewed advisory as part of a commission driven market, they are reluctant to write out a fee cheque. In my experience, free advice lacks quality, authenticity, and reliability. With the evolving AMFI and SEBI regulatory guidelines, the public is becoming financially savvy and understands that good advice comes at a cost. Moreover, this cost is miniscule compared to the comprehensive growth of their net-worth in a fundamentally correct way.

As An Entrepreneur And Founder Of Azuke Personal Finance Advisory, What Is That Significant Achievement You Brought Into Being With Your Over 30 Years Of Experience In The Field? Also, What Is Your Take On Mentorship And Keeping Pace With The Evolving Financial Trends & Technology?

Azuke is a journey. I have not set-out to change the industry or alter the way this market operates. I work at the grass root level. I am trying to change the way a family takes financial decisions- avoiding knee-jerk investments, understanding long term growth, taking informed decisions. Encouraging the woman of the house to participate in the family financial decision-making process is another change I am passionate about. Having worked with large organizations like SBI and Barclays Bank in diverse capacities (corporate finance, foreign exchange, rural banking, administration), I understand the need of discipline and method towards work; the importance for each piece of the machinery being geared towards the mission and vision of the entity. I happened to realize my passion in Personal Finance during my years as Personal Banking Head at a SBI branch. In 2007 I resigned as Chief Manager at the branch to pursue my passion. I have been providing unbiased and customized advice for more than a decade now, thriving amidst the chaos of overcrowded product space. Over the years, with the endorsement of growing clientele at Azuke, we are a living proof that we are in the right space. Interestingly, we do not spend a penny on advertising. The word-of-mouth of our satisfied clients have contributed to the growing popularity of our services. My fortnightly column in the Financial Express helps me to reach a wider audience facilitating correct money decisions.

Ingenious Faces provides mentoring services globally, to students, aiming to provide assistance in accelerating their growth and knowledge by interacting with a network of Entrepreneurs, Mentors, Start-ups, and Universities. I work with their students to help them understand real life problems and think of solutions which are cost effective and appropriate. These interactions are a two-way learning process where the students gain from the experiences from my repertoire and I learn vibrancy, curiosity, passion from these youngsters.

What Did It Take To Position Azuke Personal Finance Advisory At The Current Heights In The Indian Finance Advisory Segment And What Are Your Thoughts On The Present Scenario And Future Of This Space?

Azuke is the result of my passion and I assume that if people see the value in what we are doing, may be, this snowflake sized Azuke will turn into a blizzard of change in the future. The industry needs to change from the seller driven market to a buyer driven market. Keeping the consumer at the centre of this play.

After completing my Masters in Global Finance from HKUST/NYU Stern in 2018, I understand the need to diversify into Global investments. With increasing number of GenZ having an international career and life, their investments reflect this diversity. For our clients based in Australia, Singapore, Hong Kong, UAE, Germany, USA, and Canada, who were earlier holding piecemeal country wise portfolios, we are now rolling out seamlessly integrated service, straddling countries, currencies and asset classes.

Chaitali Dutta, Founder & Owner, Azuke Personal Finance Advisory

A graduate in Strategic Investment Management, London Business School; Masters in Global Finance from HKUST/NYU Stern (2018), and Certified Black Belt in Six Sigma from IASSC, Chaitali believes she has found her reason for being- Ikigai in Japanese. Azuke is the culmination of her passion and expertise providing boutique solutions for family units. Since its inception, this clarity of purpose has been instrumental in Azuke's evolution as a sustainable enterprise.

Office: Mumbai