From clutter to clarity: How a jeweller fixed his finances

Here's how a fixed-fee advisory rejigged Kesarwani's portfolio of 27 MFs, 9 insurance policies

- Aprajita Sharma

Twenty-seven mutual fund schemes, three endowment and six moneyback life insurance policies. That was what Anurag Kesarwani's financial portfolio looked like until 2023. Over 40% of his annual expenses went into paying premium for the nine insurance plans, another 40% towards mutual funds, and the rest for household expenses. Coming from a traditional Lucknow-based business family, the major focus for the 39-year-old had been the core jewellery business.

"Once I joined the family business, I continued with our traditional way of investing via fixed deposits, insurance policies and mutual funds. Our family worked with two mutual fund distributors and my father knew an insurance agent via whom we invested in insurance policies." Kesarwani always had a niggling doubt about his investment portfolio. But then, things changed.

Entered Sahaj Money, a registered investment advisory firm founded by Abhishek Kumar. Kesarwani's financial portfolio took on a new direction. He surrendered half of his insurance policies and is now invested in only four direct mutual fund schemes.

"I am an engineer by education and jeweller by profession. I knew there's something amiss with my investments. Around covid, I channelled my energy in understanding investments better. I happened to watch a video by M Pattabiraman of Freefincal, talking about fee-only financial planners. I checked the suggested websites and chose Sahaj Money for my financial advice."

Kesarwani and his wife Sneha, 36, have eight-year-old twin sons and one-year-old daughter.

Direct versus regular MFs