Apoorva Vora | Founder and CEO | Finolutions Wealthcare LLP
Having a great idea and executing a team to convert that idea into reality is the first step in creating a successful business venture. Ability to successfully execute this idea is what separates the dreamers from entrepreneurs. Apoorva Vora is one such support-minded business consultant who founded Finolutions Wealthcare LLP with a dream to create a white space business opportunity in B2B space within wealth management that is aimed at creating value for its associates, partners, and stakeholders. “Work and ability to execute my dreams always motivates me to do better with the time”, Says Apoorva. He has long and rich experience and exposure in the industry and supported by young and creative minds.
An Excellent Journey
Way back in the 1980s, Apoorva started his career into the software development field. “I was writing some interesting software solutions including into Portfolio Management, not knowing the same segment will employ me a few years later”, Says Apoorva. As a software professional he was also instrumental in the digitization process of one of the regional stock exchange in India.  With a decade of experience in software, but largely for financial institutions, it was his conscious decision to dive into the world of financial services in the mid-’90s. Later he joined one of the earliest portfolio managers in the country as part of their initial team for PMS business. After his fruitful stint in Mutual Fund distribution, he rejoined PMS business and worked at a PAN-India level. With over a decade in Portfolio Management, Apoorva decided to move to research, advisory and products role for leading names in the Wealth Management business. In 2013, his entrepreneurial bug motivates him to start his own firm and decided to pursue entrepreneurial ambitions.
Delivering Exceptional Wealth Management Services
Finolutions Wealthcare LLP is a business consulting firm which is providing exceptional services to Wealth Managers. As a B2B player in the wealth management industry, it assists wealth managers in search, scan, and filtration of investment products predominantly in alternative investment space. The company also helps wealth managers in on-boarding of investment ideas. In the finance space, while working on B2B platforms, quality wealth managers have concerns about losing investor confidentiality. The company works on the innovative structure and enable wealth manager to have complete control of their investor information. The company’s range of products also includes portfolio management services, alternative investments as well as global products.
Some Valuable Insights from his Desk
Apoorva feels privileged to be surrounded and mentored by people who have excelled in their domains and is grateful to his mentors for the guidance received over the years. “I have been lucky to have great mentors at work almost without an exception. Working with younger and supremely talented industry friends become an automatic source of inspiration as well as a support mechanism at work,” Says Apoorva.
Apoorva cherishes each and every moment his professional life. Talking about the most memorable moments, Apoorva says, “Working with a vast universe of wealth managers, by default we end up working with a variety of products and services. This makes almost every day at work memorable for us as it throws up new challenges every day”.
Overcoming Challenges
When the company ventured into the white-space business model, it did not have any particular business entity in mind as a benchmark. In its initial days, the scope of a business, as well as the risk associated, was also opaque. With ample analysis, long industry experience, coupled with the personal journey of being a strict B2B player, the company has overcome all the initial challenges and created a niche space in the business world. “It is very important to understand the mindset of the people whom you intend to work with and the people to whom you want to add value. Like any other businesses, we had revenue challenges. However seeing steady inroads into the wealth management ecosystem, we knew the space that we were creating and that made the journey interesting”, Says Apoorva.
Leader’s Take Current Scenario
Wealth Management industry dynamics have changed significantly with a clear trend towards financial assets. Fast growth has to lead to more players, regulations, compliance and the need for meaningful differentiation in order to stand out. The advent of technology-based investment platforms, increasing interests in alternative investments as well as global diversification interests has restructured the industry. It is also witnessing lesser premiums to relationship management if that is not supported adequately by offerings and service standards. The winners are the one who can blend relationship with suitable products offerings, risk management practices as well as high-end service standards. The slow but steady progress in the segment of Single and Multi-Family Offices is also noteworthy.
Wise Words for Budding Entrepreneurs
Apoorva believes that entrepreneurs with innovative business models have a far superior chance of making a mark in the industry. Validation of an idea is very important before taking crucial decisions and actions. “The mantra is performed or perish and therefore planning becomes very important before the plunge. There is no harm in taking help from one or more mentors”, Says Apoorva.
A journey towards flourishing Future
Progressing forward with the positive approach, the company aims to have a global footprint in the near future. The company plans to form a strategic partnership with global players who share a similar value system and can add value to the partners with collective wisdom and networking.
As a B2B player and management consultancy firm, the company will continue to deliver exceptional financial services based on the foundation of Value-addition and support mechanism to its patrons.
