Leaders
In recent times women have reached prominent leadership roles and gained recognition globally. In India, a remarkable assortment of talented and powerful women have forged the way in the financial industry, transforming it for the better and revolutionizing it by disrupting the status quo and breaking down barriers.
Saloni Parikh is one such distinguished figure in this field. A Chartered Accountant and a Master's in International Management from Kings College, London, Saloni boasts over eight years of experience in Equity Markets, Financial Planning, and Wealth Management. Her contributions extend across Research, Advisory and Business Developmentat Finance Monitor (India), marking a noteworthy career trajectory that also includes stints with prominent broking & PMS houses and tax firms in India.
In an exclusive interaction with Women Entrepreneur, Saloni Parikh enlightens us more about her professional traits and her unique play at Finance Monitor.
Take us through your educational background. What motivated you to venture into the field of finance and wealth management?
My educational journey laid the foundation for my career in finance. With a background in Chartered Accountancy and a Master's in International Management, I embarked on a path that aligned with an aspiration of eventually starting out on my own in the financial sector. Although I initially had a fair share of corporate experiences, I have always aspired to be an entrepreneur.
Initially I started out as a mutual fund distributor, and over time, we grew into a full-fledged financial advisory company providing a suite of services - from stock broking, mutual fund advisory, stock advisory, to insurance and comprehensive financial planning. My company is my professional baby, nurtured by my passion and dedication.
“Our commitment is to maintain proactive communication with clients, promptly addressing market changes as necessary & continuously updating ourselves with the fast paced markets”
Which are key areas of expertise you have developed over the years in the industry?
My extensive industry experience combines theoretical knowledge and practical expertise. As a Chartered Accountant, I possess strong foundations in financial principles, including taxation, stock analysis and financial products. My corporate stints facilitated in enhancing my skills in company analysis, valuation and investment strategies. This diverse background enabled me to excel in providing comprehensive financial guidance & investment opportunities forclients.
I believe in wealth & legacy creation and that only comes from responsible and regular savings.
Introduce us to Finance Monitor. Tell us about the various responsibilities you shoulder as the firm’s CEO.
Finance Monitor is a long-standing stockbroker established back in 1992. I assumed the role of the CEO in August 2021 and today, we are a ‘one-stop shop’ for all your financial needs, engaging with various firms to provide a host of investment opportunities from equity, debt, insurance and gold.
My role as the CEO is multifaceted, I am a very hands on and action oriented person whether it is back-end operations, business developmentor research. I also serve as the Compliance Officer, a crucial position for any stock-broker. On a day-to-day basis, I guide clients in product selection, ensuring product alignment with their financial goals and conduct ongoing portfolio reviews to stay with current market developments.
Finance Monitor aims to nurture long-term relationships and build trust, which inspires confidence in clients. We assist our clients in curating their financial plans tailored to fit an individual lifestyles, goals and ambitions. Our commitment is to maintain proactive communication with clients, promptly addressing market changes as necessary & continuously updating ourselves with the fast paced markets.
Tell us about the top professional milestones that you have achieved throughout your journey. What has been your success mantra?
A notable professional milestone as a CEO with Finance Monitor wason boarding 500 clients at a go to our roster in a record time of 2 months. This accomplishment stands out in the highly competitive landscape of the financial industry, marking a significant achievement for myself and our team.
My success mantra is simple-Work smart, focus and maintain simplicity. Build a core-power team to drive growth.Success will follow.
How do you foresee the Indian wealth management industry evolving in the near future?
The Indian wealth management industry is poised for significant expansion, driven by technological advancements and the increasing accessibility of investment opportunities across the country. Despite India's vast population, the widespread technological reach and Industry-wide financial savings awareness campaigns in urban & rural areas enables investments across asset classes, which in turn contributes to growth.
My Father - Over his 40-year entrepreneurial journey, he exemplifies principles that transcend mere financial success. His commitment to a work-life balance, business know-how, focus and simplicity has deeply inspired me. His principles and systematic approach in business and life, guide my own path.
Advice for aspiring women entrepreneurs/ business leaders
For aspiring women entrepreneurs and business leaders, my advice is to be Confident - Seize opportunities without hesitation and bloom out of the shadows.
Financial Freedom originates from regular & responsible savings. Starting young and small paves the way to a secure financial future.
Saloni Parikh, CEO, Finance Monitor
Saloni is a Chartered Accountant and has completed her Master's in International Management, London with over 8 years of experience in Equity Markets, Financial Planning, and Wealth Management. She has been actively involved in Research, Advisory, and Business Development at Finance Monitor (India).
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