Satish Dutt of Composite Investments

composite-edge-logoName

Satish Dutt of Composite Investments (website)

1. When did the company start? 1995

2. What type of clients do you attract? Online retail mostly but have off-line retail clients too.

3. What type of services do you offer? Discount Broker – online trading and Algo Trading

4. What is your edge over other brokers? Low brokerage, tools to enhance trading experience, algo trading, knowledge forum with Q&A and online chat.

5. What tools do you use such as trading software, etc…? NOW, NEST and Symphony for algo trading.

6. Why are you recommending MProfit to your customers? Most customers have a problem of having all their financial information at one place especially over a number of years. Further they need to submit details regarding their trading long-term capital gains, short-term capital gains and F&O for filing their IT returns.

7. Name 2 or 3 things that you absolutely love about MProfit? Import facility for e-contract notes and Excel import. Multiple year, multiple brokers, and multiple locations.

8. What are 1 or 2 things you would like in MProfit? Alerts triggered on an event based on the portfolio of the client would be a welcome facility.

Vivek Rege of VR Wealth Advisors

Name
Vivek Rege of VR Wealth Advisors (website)

Background
Vivek started working for a firm after getting his CA intermediate. Then in 2003 he decided to setup his own financial advisory practice. VR Wealth Advisors Clientele includes individuals who work in corporates having Senior Management Positions. The Consulting Services that VR Wealth Advisors offer include Analysis, Customised in-depth Planning, Customised Structuring and Portfolio maintenance. The edge that VR Wealth has is they are constantly learning new things and open to changes.

Benefits of MProfit Advisor
Many of the tools they use are derived from Global Landscape and have been adapted to the Indian consumer. An example is a risk profiler – it looks very common and taken not too seriously at times, but they consider this to be a tool which can help manage expectations of their clients. Before using MProfit to aggregate all his clients financial data they were using Excel which is a common practice. However, overtime maintaining all this data in Excel was getting cumbersome and provided very basic information. They switched to MProfit because it was user friendly, simple to use and great responsiveness from the MProfit team which is rarely seen among the software providers. Of course, VR Wealth Advisors would like to see additional gadgets to make it easier for his team to quickly get access to Clients holdings.

How Suchita Ambardekar uses MProfit

Name
Suchita Ambardekar

Background
Suchita has been following the markets since 1996 because of her family portfolio. She started writing a blog (located here) about the markets and personal finance. Slowly, people started asking her for specific advice and she would freely give the advice. Then someone mentioned she should start to charge her clients and thus began her advisory business. She now also writes for MarketExpress (link). What sets Suchita apart from others is her expertise in the area of investment monitoring and using technical indicators to decide what to buy and sell. She uses Futures and Options (F&O) only as a hedge for a client that owns the scripts in there account.

Her focus is on high networth individuals (HNI) who need someone to help monitor their investments on an active basis, the minimum ticket size is Ro. 50 lakhs. She has tied up with Ffreedom Financial to provide her clients with financial planning and goal based planning as well. The clients interests come first and hence she does not sell any products, the clients pay for the services offered by Suchita. She recommends what the clients might need such as wills, IT filings, financial plans, demat account, etc…

Benefits of MProfit Advisor
Some of the tools she uses to manage her business are MProfit Advisor, Ffreedom Financial and Advanced System Analysis from Vivek Patil to looks at charts. Before MProfit Advisor she was using Microsoft Excel, but once she started to add more clients it became difficult to manually enter everything into Excel. Some of the features that Suchita really likes about MProfit are the All Assets portfolio summary report, which gives a complete picture of all the investments that a client has. In addition, the capital gains reports are very useful as well.  However, the biggest feature that Suchita cannot live without is the F&O summary screen as she can quickly see where the positions are. From the summary screen she can find out the realized and unrealized profit/loss for a client. Overall she is quite happy, but is hoping that MProfit makes the reports even nicer and easier so she can review them with her clients.

Suchita blogs at several sites:

Her website – http://suchita.biz/
Market Express – http://www.marketexpress.in/author/suchita
Town Mumbai – http://www.townmumbai.com/finance

How Radix Securities Benefits from MProfit

 

 

 

Name
Sumeet Savla, Proprietor at Radix Securities

Company Background
Radix Securities located in Bombay was started in April 2010 by Sumeet Savla, he previously worked at PayPal as a software engineer. Radix Securities is a wealth advisory firm that advises on stocks, mutual funds and insurance for NRI’s. His technology background has allowed him to develop his own stock screening algorithm which he uses to generate his buy and sell signals.  Even in these uncertain times, some stocks are hitting 52 week highs and that is where Radix Securities uses their algorithm to decide when to buy and sell. They maintain a medium (2 years) to long (10 years) term outlook on the stocks that they buy.

Benefits of MProfit Advisor
Some of the tools he uses daily include Excel, charting software and MProfit Advisor. Before using MProfit Advisor all of the client data was in Excel and it was very difficult to maintain. They started to use MProfit Advisor about a year back and have not looked back. Two features that Sumeet loves is the overall portfolio summary screen and the historical pricing report. With the portfolio summary screen he can view a clients holdings of all the various asset classes in a single view. With the historical pricing report he can now see what a clients portfolio was worth a month ago, 3 months or even a couple years ago. Some of his clients still like to receive monthly reports and the reports from MProfit are very easy to read and understand.

One thing they want to see in MProfit is the ability to generate a balance sheet.  Luckily, the team at MProfit is working on adding this feature to MProfit in the coming months.

Lalkar Securities

For 2012 we are starting a new feature on our blog by speaking with some of our clients who use MProfit.  The interviews will be a combination of what they do and how MProfit benefits them.

Name
Hansal Thacker, Director at Lalkar Securities

Website
http://www.lalkarsecurities.com/

Company Information
Lalkar Securities was started in the early 1980’s and has a pan India presence with a concentration in Maharashtra. They have offices in Pune, Delhi, Jodhpur, and Bangalore which are company owned and the rest are franchises.

Focus of the company
The main focus remains to be the wealth advisory business which requires a broking arm and a distribution platform to facilitate the business. Although many brokers talk about wealth advisory, very few can effectively deliver the performance that is required.

How is the industry changing?
The industry is shifting from “sales” to “skill”. Investors remain in the false assumption that  a buy and hold strategy would continue to grow their wealth. Unfortunately, with the wide spectrum of assets available the industry will be in need of investment specialists who can demystify, analyze and recommend products to their clients. Gone are the days when only HNI’s, trusts and corporate clients had advisors. In today’s volatile markets, everyone is in need of a Wealth Advisor.

Top 3 benefits of MProfit Advisor

  1. Consolidation of asset classes – MProfit is one of the few products that can aggregate such as wide spectrum of investments products – stocks, mutual funds, insurance, PPF, EPF, ULIPs, FDs, ETFs, gold, silver, property, etc…
  2. User friendly reports – clients can easily understand what the numbers mean
  3. Comprehensive portfolio performance tracking – from the main summary screen you can easily see how the portfolios are performing