Some people have a certain talent for making money, so much so that like the fabled king of old they too seem to have the “Midas Touch”. The entrepreneur who is the subject of our attention has the fabled skills for making your hard earned money work for you. Abhinav Angirish is a Post graduate in Marketing and Finance and he has put his degree to good use in Abchlor Investment Advisors (P) Ltd.He started his career with an MNC bank as a Relationship Manager (American Express Bank Ltd.) in 2000. In 2001 he joined the second largest private bank (HDFC) in India, as a Relationship Manager for HNI clients. He soon established a reputation for over exceeding targets and kept his branch at the No. 1 position throughout his stint with the bank. He mobilized over 350 crores from 2001 - 2004 in various wealth management products besides managing a sizable 75 crores CASA book.
In April 2004, Abhinav quit the banking sector and a promising career to start his own Wealth Management outfit with the name of Abchlor Investment Advisors P. Ltd. The directors of the company are Abhinav and his wife Tina. His company offers Mutual Funds, Equity Broking and Equity Advisory besides the other OTC financial products such as Bonds, IPOs etc. In 2004 the company managed to amass over 100 crores worth of assets. In 2005, he was recognized for acquiring the largest single deal in the industry with 120 crores of individual funds in a single day.
In 2006, other products such as Real Estate Broking, Real Estate consulting, Home Loans, and Securitized Loans were added to their offerings. In the same year, www.investonline.in was christened and conceptualized.
In 2007, investonline.in was launched with online transactions (Purchase, Redeem, Switch) of Mutual Funds. Abchlor pioneered the concept of Payment Gateway in this industry which is today being followed by many. Independent agreements with most of the leading Funds, 12 bank options, easy-to-use 3 click investment, Portfolio Utilities and Tools such as Portfolio Monitoring Tools are few of the unique features of the website.
In June 2009, SEBI announced the abolishing of Entry Loads that the Funds charge (an avg. of 2.25% for equity funds) which is actually the marketing and distribution cost. This is the fee that is made by the advisor/distributor. The move brought a fear psychosis in the advisor/distributor side as everyone was worried on how they would make their revenues unless the client issues separate advisory fees to the distributor which again was not an easy task as the investor was never used to this. Abhinav found an opportunity here to market investonline.in as AN ABSOLUTELY FREE to Register/transact website. Clients can register and transact at NO COST at their convenience enjoying all other freebies of the website. This is a bold move and has raised the eye brows of many competitors.
However at Abchlor, they are certain that the new move will generate a huge response from the investor fraternity and will help Abchlor acquire significant number of investors.
We at Yourstory believe that Abhinav truly does have the “Midas Touch” and that even the new developments in the investment market will not tarnish his repute. We shall be keenly watching his progress and hope that he sets new standards in his field.