Question 1

What is Ashoonya all about? What do you do? What are your services?

Accepted Answer

Ashoonya means Infinite. It is derived from the Sanskrit word Shoonya which means Zero.

We are a boutique financial advisory, wealth management & financial education business.

We offer personal financial advice, make customised financial plans and manage wealth for individuals & families ; work with entrepreneurs & small businesses in areas of business ideation, strategic financial advice & business planning and tap into schools, colleges & corporates to spread financial education at the grassroots.

Question 2

What is the SEBI RIA? Why is it important for clients/investors? What's your take?

Accepted Answer

SEBI RIA is the acronym for Securities Exchange Board of India Registered Investment Advisor.

This is the gold-standard for financial advisors globally. Essentially without this certification+registration no individual or business is allowed to offer personal financial advice. It has been in force in the west for decades having made its way into the Indian financial landscape just a few years back.

We completed our SEBI RIA certification+registration in Aug 2023. Our SEBI RIA Registration No. is INA000018391 & the same can be validated on the SEBI website : https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=13

Click here for our SEBI RIA certificate : https://www.ashoonya.in/sebi-ria-certificate

Why is this important for you as a client/investor?

Few reasons.

Firstly, SEBI RIA establishes credibility because the criteria for certification & registration is very extensive.

From academia to work experience, domain knowledge to financial credibility, background checks to business plans, checks on quality & veracity of financial advice given to clients to ensuring there is no conflict of interest. We even wrote an essay or two & completed an interview. It reminded us of Ivy League University applications. 😆

It took us 5 months after our certification to complete registration requirements since the checklist on prospective advisors is so comprehensive down to the last detail.

Moreover, not only is getting in difficult & the RIA list exclusive, the level of compliance to keep the registration valid is almost over-the-top meticulous. Keeps us on our toes, sometimes even unnecessarily.

For clients it means that they can eliminate the noise & be sure they're dealing with the real deal. It still doesn't mean you don't use your discretion. For instance, notwithstanding our SEBI RIA status & our client testimonials, we ask prospective clients to schedule a consult with us to establish authenticity 1-on-1 & after having done that to still check if we're a good Client-Advisor fit.

For us it establishes credibility & authenticity even more since we (intentionally) have no social media presence. We are today amongst only 700 RIAs in India.

What is our take?
We feel SEBI has achieved 2 legs of the tripod. 
One, make something exclusively tough to get in only on the basis of meritocracy. So that only a few get in.
Two, make it tough to stay in with consistent vigilance so that wheels continue to churn & no one gets lax only because they got in in the 1st place. This ensures even fewer stay in.
Three-they missed out on the third leg of the tripod. Once advisors prove they're competent enough to get in & competent enough stay in, let them also enjoy privileges along with responsibilities. Privileges that are not open to all. Which in this case would imply that SEBI RIAs get access to all financial products & can not just advice but also plan & manage & implement. The whole gamut basically. Officially. Zero-restrictions. So that the best in the business are handling all personal finance aspects end-to-end. And no one is trying to find a work-around if there are restrictions.

However, is it necessary that intelligent financial advice comes only from those who are registered &/or certified. Absolutely not. Education, most of it, even all of it, can be autodidactic & informal & outside the purview of classrooms & certifications. But it is the lay of the land. And in our attempt to formalise the Indian personal finance space it is an important step. Until we find a better mouse-trap this is the best way forward.

Question 3

Where is my money invested?

Accepted Answer

If you select the Starter service your money is invested only in mutual funds.

On the Standard service we invest in mutual funds, NPS, bonds, gold, silver, EWM/stock market equity portfolios.
 
The Premium service or Wealth Management both have the most extensive array of investment avenues like mutual funds, equity/stocks, bonds, debt & money market investments, SIFs, AIFs, international investments, gold/silver, ETFs, P2P investments, unlisted private equity, real estate, REITs, InvITs etc.

Question 4

How do I know which service is apt for me?

Accepted Answer

Simple. Well, extensive but simple.

If you're starting off investing for the 1st time & have never done it before. 
If you've realised the mess you find yourself in with insurance.  
Those wanting to transition from DIY to hybrid which means you also have an advisor to support your DIY investing. 
If you aren't insured or are under-insured/incorrectly insured & need an advisor to help guide you.
Or if you wish to switch advisors because it isn't serving your purpose anymore. 
In all these scenarios start with the Starter service.

If you want to make a financial plan & have a Financial Planner implement that for you along with you then Standard is your service.

If you want not just a comprehensive financial plan but also a CFO for your personal finances & are ready for a financial coach as well as open to financial education then Premium is the best fit for you. Note we have a criteria for client intake onto this service.

If you have a corpus that needs to be invested then Wealth Management is your go-to.

If you want neither a plan nor management of your money but would just like an Advisor available who you can speak with when required & who could vett your financial decisions, the Financial Advisory service suits you just fine.

Question 5

Do you have any one-off services?

Accepted Answer

Yes.

For those who don't need year-round services on a retainer we do make analyses & plans for clients on a one-off basis.

One-off services we have delivered to clients so far :

Investment Plan / Rebalance
Insurance Plan
Liability Analysis
Portfolio Review
ITR Filing
Rent v/s Buy Analysis
Loan foreclosure v/s Continue Analysis
Tax Planning / Advice
Asset Analysis
Research Report on a stock
Cashflow Plan
Expense Management Plan
Succession / Estate Plan
Financial Plan
Financial Freedom Figure Analysis
Retirement Plan

Average fee starts at INR 15000/- but will be customised basis the complexity of the work involved + breadth of analysis & planning needed.

Each one-off service includes 2 free consults to deliver the analysis/plan & a review to answer all client questions.

One-off services specifically do not include implementation. (ITR filing is an exception)

We have also seen clients move up from one-off services to. working with us round the year on annual retainer services. The most common instance being upgrading from an Investment Plan + Rebalance to a full-stack Wealth Management service.,

For one-off services reach out to us on +91 75074 79706 or financialwellbeing@ashoonya.in

Question 6

Do you customise annual services?

Accepted Answer

We don't customise annual services.

However, there are 2 options here for those looking either for a Financial Advisor onboard or having a no-holds barred zero-exclusion service where we handle the A-Z of their personal finances :

For year-round customised advice on all aspects of your opersonal finances choose the Financial Advisory service. Annual fee INR 30000/-.

https://www.ashoonya.in/advisory-services

For year-round customised analyses, planning, implementation & management of all aspects of your personal finances choose the Premium service which has almost no exclusions & can work like you having a Investment Advisor, Financial Planner & Wealth Manager on a retainer year-round. Annual fee INR 60000/-

https://www.ashoonya.in/financial-planning

We do have customised one-off services. Refer to the previous FAQ for more details.

Question 7

Who will be managing my investments?

Accepted Answer

Your investments will be managed by our founding team hands-on. Rahul Kalra & Sangeethasruthi Sundararaman.

We don't have a team of analysts & money managers because we won't delegate core work. We love the investing process & really enjoy deploying money. This hasn't changed in 2 decades & it may not change going forward either. And we don't use AI in our investing strategies. Its still all natural intelligence. 
 
Click here to read more about them : https://www.ashoonya.in/meet-our-team

Question 8

Will you have access to my money? Can you sell my investments without my knowledge? How secure is this set-up?

Accepted Answer

We only have functional advisor level access to your investments through your own OIA (Online Investment Account), so as to be able to manage your investments as your Financial Advisors & Investment Managers.

ONLY YOU will have transaction level access to your OIA which means investments can only be put in & redeemed with your 2-factor authorisation (OTPs & links received on registered mobile & registered e-mail)

Neither we nor any other entity in the investing ecosystem has any access to your bank account connected to the OIA.

This is how the investing landscape works globally. It's the most foolproof we've seen it to be in the last 2 decades.

Question 9

What is your fee?

Accepted Answer

Consult Fee : INR 2499/- / $60 for a 60 minute consult (Personal finance)
Consult Fee : INR 3999/- / $100 for a 60 minute consult (Business Advisory)
 
Starter service-Mutual fund Investing & Insurance planning : INR 6000/- / $150 per year. (Billed annually) 
 
Standard service-Basic Financial Planning : INR 20000/- / $500 per year. (Billed annually 1st year, monthly thereon)
 
Premium service-Comprehensive Financial Planning & Coaching : INR 60000/- / $1500 per year. (Billed annually 1st year, monthly thereon)

Financial Advisory : INR 30000/- / $1000 per year (Billed annually)

Wealth Management : 0.2 to 1% of AuM (Billed annually)

Equity Wealth Management (EWM) : 21% of all gross profits (Billed on realisations)

Question 10

Can I pay fee in instalments?

Accepted Answer

Only on the standard & premium service 2nd year onwards we provide clients the facility of paying fee monthly. At zero interest.

Note : This isn't done because work is happening month-on-month. As your Financial Planners, easing your cashflow-management starts with us & our fee & hence we set up monthly fee payment for you.

Question 11

Do you offer refunds or adjustments on fee?

Accepted Answer

Zero refunds without exception.

This is because we don't push we don't sell (in the stereotypical sense) we in fact help you decide what you might actually need & whether we are a good fit to start with. Hence, once we're on we don't offer refunds. In fact if you change your mind midway we even claw-back discounts.

Adjustments on fee can be prorated if you upgrade from one financial planning service to another (Starter/Advisory/Standard/Premium) but not if you switch between services i.e. financial planning to wealth management.

Question 12

Your contact details say your registered office is located in Pune. Do you service clients in other cities as well as NRIs?

Accepted Answer

Yes.

We intentionally transitioned to being a remote online work-from-anywhere business in 2013. It would hence be apt to say that we only work with clients who are comfortable with us not being available in a physical office Mon to Sat 9 to 5.

Post-covid this saw widespread acceptance & almost even became a norm. Had it not, we would have still continued in this format.

At present we service clients from all over the country (Pune, Mumbai, Delhi,  Dehradun, Bangalore, Trivandrum, Chennai, Goa, Kerala, Punjab etc) including a handful from outside too. (Australia, Germany, USA, Singapore)

Interestingly, most of our clients we've never met in person.

Question 13

Can I upgrade from one service to another anytime during the year?

Accepted Answer

Yes.

Fee will be prorated.

Upgrade to the Premium service will be subject to client selection criteria as well as intake of new clients being opened up. At present we are not taking on anymore Premium clients & there is a waitlist.

Question 14

If I dont want to invest or start financial planning, can I come to you just for advice?

Accepted Answer

Yes you can either schedule as many one-off consults as you wish, for a fee.
OR
If you wish to have a Financial Advisor available year-round you can sign up to the Financial Advisory annual service on a retainer fee.

Question 15

Can I speak to your clients to get feedback?

Accepted Answer

Yes.

All our testimonials here have updated emails & socials of clients all of whom have graciously agreed not only to put these up on our website but also to respond to anyone writing in for feedback. So go right ahead. Hear it from the horse's mouth straight.

We don't advertise nor do we have social media presence (intentionally) but we do have something far more significant. Actual clients with real-life stories to tell. We infact even encourage them to talk about things that haven't worked for them. Any feedback or review if it's all good isn't authentic.

Question 16

I've heard from a few of your clients that your style of working is unconventional. Could you throw some light on that?

Accepted Answer

As people we are fluid & simple (hopefully we're accurate in our self-assessment) who look at life with a generous touch of humour (life need not be funny just in retrospect) & a yogic perspective & this reflects in our continuous attempt to align who we are with what work we do, how we live, how we build our business & hence what quality we bring to all our client interactions & relationships.

Money is important but let’s not take it so seriously. Yes you heard it right.

Work & leisure are not separate for us. Don’t be surprised to see us on the Bali beaches or in the lap of the Rishikesh mountains working on your financial plan & having marathon consults with you. Customer is NOT king for us. We don't subscribe to or work like most typical businesses. (No offence to anyone). Working hard is a misnomer. We work leisurely but intensely & effectively.

Stress, remember is not good for money & financial decisions. Is it good for anything at all? 🤔

In short we are anything but conventional & stereotypical.

We are however very involved in client lives & deeply invested in client finances & we put our money where our mouth is. Skin in the game they call it. We have much more than just skin.

While our registered office is in Pune & Pune is our home-town, we are a mobile remote team. We switched to WFA (Work-From-Anywhere) in 2013. Our website says that too. And we assure you this wasn’t a post-Covid phenomenon with us. Holidays & work days are not compartmentalised & 9 to 5 or monday to friday is not how we work.

At the very outset of a new relationship it is essential that we put this before you so that both you & us have clarity. We may or may not be the best fit. If not, even better because we’d like to break old boundaries & explore new perspectives. For you as well as for us.

Question 17

What if I have more questions?

Accepted Answer

If you have any more questions, mail us on financialwellbeing@ashoonya.in, WhatsApp us on 75074 79706, schedule an online consult with us or simply leave them right here on the website chat box & we'll make sure we answer each one within 3 days at the most.

Question 18

Do you draw up agreements? How do you formalise our association?

Accepted Answer

We draw up agreements for every single client while onboarding & both you & us soft/dry sign these. We also set up an orientation consult before you sign agreements or pay fee so as to discuss these legalities in detail & answer all your queries you may have.

All agreements also lay out details of how we strictly stay in accordance with all of SEBI RIA regulations.

FYI : As far-fetched as this may sound, if it were upto us we wouldn't be drawing up agreements with so many technicalities even for a money business. We would shake hands, it would be our word & yours & we would get down to work. But the lay of the land is mighty different. And so we are sticklers for all of these rules & regulations.

Question 19

What about confidentiality?

Accepted Answer

We take the hippocratic oath as your Financial Advisors before we start work. 🙃

On a 'serious' note we do realise the fiduciary responsibility managing money brings with it. For us it's simple. We do unto you & your money what we would do with ourselves & ours. We walk the talk. We have skin in the game. We invest for ourselves where we invest for you. We even test new investments with our own money before we invest your money there. We sleep over your financial plan metrics multiple times by stepping into your shoes. And we maintain confidentiality on all levels of data & documents & sensitive information. No 3rd party access to any data. No cross-discussions with clients. No common groups on WhatsApp. No client financial plans in the public social domain. Once integrity is driven by the right reasons, confidentiality & other things follow.

Having said that please remember confidentiality was the name given to money discussions being taboo all these years. Now it's gone to the other end of the spectrum with it being spoken about as an enviable status symbol on socials. We don't condone either.

Money is a tool. It's utilitarian. We keep it in the pockets. Not let it enter our heads. Period.

Question 20

How much AI are you using right now in making financial plans or investing money?

Accepted Answer

Very minimal.

The only place we actively use AI right now is our use of Gemini/Chatgpt to collate research on businesses for equity/EWM investments. That's all. No analysis. No decision-making. Just pure research collation that too just for EWM.

And yes the Zoom AI companion generates our consult minutes. That has been one big time-saver.

No AI at all in financial planning or investing money so far. Its all natural intelligence as yet.

Question 21

From what I've understood yours is a boutique advisory business with a lean team. What then happens tomorrow to business continuity?

Accepted Answer

Before we plan succession for clients it's only imperative that we have ours planned.

Each of us (founder & co-founder) have appointed the other as our obligor (person-in-charge) in the event of death or disability so as to carry out all responsibilities, obligations, rights & privileges & to ensure continuity of the business as well as safekeeping of client interests, their financial plans & their money.

Moreover, from day zero one of our intents with clients is to make them self-sufficient. Get them to a place where they don't need us nor anyone else (including google) when it comes to their personal finances. That will be financial well-being in the truest sense.

Question 22

What are your other certifications/registrations that qualify you to offer advice, make financial plans & manage wealth?

Accepted Answer

SEBI RIA-Registered Financial Advisor.

CFA-Chartered Financial Analyst.

AMFI certified MFD-Mutual Fund Advisor.

IRDAI certified Insurance Advisor.

AIWMI certified Wealth Manager.

NISM certified Investment Advisor & Derivatives Expert.

NSE/BSE authorised partner.

Over 2 decades of investing experience & lots of experiential learning hands-on on the job so to speak if that counts.

ashoonya

Shoonya is Zero | Ashoonya is Infinite

Frequently Asked Questions-FAQ

What is Ashoonya all about? What do you do? What are your services?

What is the SEBI RIA? Why is it important for clients/investors? What's your take?

Where is my money invested?

How do I know which service is apt for me?

Do you have any one-off services?

Do you customise annual services?

Who will be managing my investments?

Will you have access to my money? Can you sell my investments without my knowledge? How secure is this set-up?

What is your fee?

Can I pay fee in instalments?

Do you offer refunds or adjustments on fee?

Your contact details say your registered office is located in Pune. Do you service clients in other cities as well as NRIs?

Can I upgrade from one service to another anytime during the year?

If I dont want to invest or start financial planning, can I come to you just for advice?

Can I speak to your clients to get feedback?

I've heard from a few of your clients that your style of working is unconventional. Could you throw some light on that?

What if I have more questions?

Do you draw up agreements? How do you formalise our association?

What about confidentiality?

How much AI are you using right now in making financial plans or investing money?

From what I've understood yours is a boutique advisory business with a lean team. What then happens tomorrow to business continuity?

What are your other certifications/registrations that qualify you to offer advice, make financial plans & manage wealth?