Amit Bhandari: A Commemorated Professional In The Realm Of Wealth Management
Amit Bhandari
Founder & CEO
Define Paras Prime Wealth pvt ltd as an organization and where is it positioned in the industry?
We are certified Wealth Manager, Mutual Fund, and Insurance consultants recognized by the AMFI (Association of Mutual Fund of India) & IRDA (Insurance Regulatory & Development Authority). We assist clients in achieving their financial objectives through effective and prudent investment planning. Our core objective at Paras Prime Wealth pvt ltd is to raise awareness and teach people to start investing at their initial stage of life at the age of 20-25. At Paras Prime Wealth pvt ltd, we have the capability to address all the problems with apt solutions under one roof from Direct Equity, Portfolio Management Services(PMS), Alternate Investment Funds (AIF), Mutual Funds, Life Insurance portfolios, FD, bonds, real estate advisory and loans, to name a few.
Currently, I’m managing more than 2600 clients across India as well as overseas with a total asset under management value of 1050cr. In terms of insurance, we have already surpassed 52cr+ premium book value with more than 650cr of human sum assured value. Award recognition MILLION DOLLOR ROUNT TABLE (MDRT) – 8 times, COURT OF THE TABLE (COT) – 7 times & TOP OF THE TABLE (TOT) – 2 times. Till date have received 216 Awards.
Tell us about your professional background and experiences. What prompted you to pursue a career in wealth management?
Prior to venturing into the wealth management industry, I was into my family business which was a third-generation run business in the chemical and medicine domain. In
2001, I forayed into my own business and started mobile phone distribution and telecommunication outlet. It was in 2006 when I started managing mutual funds, insurance and portfolio management service (PMS) for my clients.
Subsequently in 2008,I got the opportunity to learn underwriting solutions in (LUTCF) Life Underwriting Training Council Certificate which was an American college certificate. This enabled me to gain a better understanding of insurance and cater several insurance solutions to my clients. Hence, my journey into insurance and financial management began.
Previously, I had been managing portfolios of my clients on a unit platform, and with the help of technology, I was able to expand my portfolio management options. Thereafter, I launched a new investment framework and founded Paras Prime Wealth Pvt. Ltd., wherein I primarily began handling mutual funds, IPOs, direct equity & Alternate Investments Funds.
How do you apply your expertise in your current role at Paras Prime Wealth?
I'm the one-man army in the firm managing funds along with many of my other businesses as well. I’m termed as the financial surgeon in the industry to manage funds. I have witnessed that people only know how to make money and managing it is a difficult task for them. However, managing money is more important than earning. With the help of technology and the experience that I bring to the table, I'm able to help them manage their funds efficiently.
Tell us a client case study that demonstrates the efficacy of your expertise
Ashok Khivsara, 65, is a businessman involved in steel trading and door and frame manufacture for the past 40 years. However, he had no investments. By the time he started investing, Khivsara was already 60 years of age. In 2017, Khivsara began his investment journey on his own without any professional help and started with investment in mutual funds. Khivsara choose a Systematic Investment Plan (SIP) as his preferred investment mode rather than a lump sum amount.
He made certain that his SIP amount was deducted regularly and was content to keep his investment strategy disciplined. However, after two years of continuous investments, Khivsara noticed that the value of his overall portfolio
I'm the one-man army in the firm managing funds along with many of my other businesses as well
Subsequently in 2008,I got the opportunity to learn underwriting solutions in (LUTCF) Life Underwriting Training Council Certificate which was an American college certificate. This enabled me to gain a better understanding of insurance and cater several insurance solutions to my clients. Hence, my journey into insurance and financial management began.
Previously, I had been managing portfolios of my clients on a unit platform, and with the help of technology, I was able to expand my portfolio management options. Thereafter, I launched a new investment framework and founded Paras Prime Wealth Pvt. Ltd., wherein I primarily began handling mutual funds, IPOs, direct equity & Alternate Investments Funds.
How do you apply your expertise in your current role at Paras Prime Wealth?
I'm the one-man army in the firm managing funds along with many of my other businesses as well. I’m termed as the financial surgeon in the industry to manage funds. I have witnessed that people only know how to make money and managing it is a difficult task for them. However, managing money is more important than earning. With the help of technology and the experience that I bring to the table, I'm able to help them manage their funds efficiently.
Tell us a client case study that demonstrates the efficacy of your expertise
Ashok Khivsara, 65, is a businessman involved in steel trading and door and frame manufacture for the past 40 years. However, he had no investments. By the time he started investing, Khivsara was already 60 years of age. In 2017, Khivsara began his investment journey on his own without any professional help and started with investment in mutual funds. Khivsara choose a Systematic Investment Plan (SIP) as his preferred investment mode rather than a lump sum amount.
He made certain that his SIP amount was deducted regularly and was content to keep his investment strategy disciplined. However, after two years of continuous investments, Khivsara noticed that the value of his overall portfolio
eroded by 15% CAGR. A fall in his portfolio value did not go well with him. Since he had no one to guide him, Khivsara jumped to the conclusion that he probably made a major mistake by starting investments through SIPs.
Khivsara approached me after one of his acquaintances recommended him to seek expert investing assistance. I identified Khivsara's errors and taught him the fundamentals of investing. Since then, we kept in touch on a regular basis, however no business transactions had occurred. When Khivsara contacted me with a financial concern, I made certain that Khivsara was well-versed in the complexities of investing so that he could become an informed investor. He realized the significance and concept of asset allocation, something he had previously overlooked.
Finally, in January 2020, Khivsara decided to shift his entire investments to me to get the professional touch of money management. Gradually, over time I reconstructed Khivsara's overall portfolio as per his risk-taking abilities and brought in the element of asset allocation. Suitable mutual fund schemes were hand-picked considering Khivsara's various short term as well as long-term financial goals. This way I helped him get his investments aligned with his goals, which was not the case earlier. Since I took over Khivsara's investments two years ago, the resultant impact of all the measures taken to streamline Khivsara's investments has helped him see over 23% CAGR growth in his portfolio. Khivsara is delighted and appreciates all the efforts put in to make investments work in the long run.
Going forward, what are the goals that you wish to invest in and how do you plan to take them further?
As I proceed ahead, I will be investing my time in gaining more knowledge of the finance industry. I'd be accumulating more information for my future goals, which in turn will benefit my clients. I want to dive deeper into understanding the market and bring back the knowledge for my clients. For the knowledge and development that I bring to my clients, I would like to be recognized as an expert in the finance industry.
Amit Bhandari, Founder & CEO
Amit Bhandari is termed as the financial surgeon in the industry to manage funds. He is successfully spearheading Paras Prime Wealth pvt. Ltd., managing more than 2600 clients across India as well as overseas with a total asset under management value of 1050cr. He is an exceptional wealth management professional with around 2 decades of finance experience in offering clients with solutions that suit their financial goals
Khivsara approached me after one of his acquaintances recommended him to seek expert investing assistance. I identified Khivsara's errors and taught him the fundamentals of investing. Since then, we kept in touch on a regular basis, however no business transactions had occurred. When Khivsara contacted me with a financial concern, I made certain that Khivsara was well-versed in the complexities of investing so that he could become an informed investor. He realized the significance and concept of asset allocation, something he had previously overlooked.
Finally, in January 2020, Khivsara decided to shift his entire investments to me to get the professional touch of money management. Gradually, over time I reconstructed Khivsara's overall portfolio as per his risk-taking abilities and brought in the element of asset allocation. Suitable mutual fund schemes were hand-picked considering Khivsara's various short term as well as long-term financial goals. This way I helped him get his investments aligned with his goals, which was not the case earlier. Since I took over Khivsara's investments two years ago, the resultant impact of all the measures taken to streamline Khivsara's investments has helped him see over 23% CAGR growth in his portfolio. Khivsara is delighted and appreciates all the efforts put in to make investments work in the long run.
Going forward, what are the goals that you wish to invest in and how do you plan to take them further?
As I proceed ahead, I will be investing my time in gaining more knowledge of the finance industry. I'd be accumulating more information for my future goals, which in turn will benefit my clients. I want to dive deeper into understanding the market and bring back the knowledge for my clients. For the knowledge and development that I bring to my clients, I would like to be recognized as an expert in the finance industry.
Amit Bhandari, Founder & CEO
Amit Bhandari is termed as the financial surgeon in the industry to manage funds. He is successfully spearheading Paras Prime Wealth pvt. Ltd., managing more than 2600 clients across India as well as overseas with a total asset under management value of 1050cr. He is an exceptional wealth management professional with around 2 decades of finance experience in offering clients with solutions that suit their financial goals