India is a young nation with over 65% of the population below 35 years of age. With a large number of people who have their entire lives ahead of them, financial planning is something one must not ignore. Financial planners and investment agents are not difficult to find, but choosing the right certified financial advisor for your needs is a tough call.
Advisorkhoj is India’s first and only online Directory for Financial & Investment Advisors and Distributors, which helps people search for certified financial advisors for their specific needs.
About the founder
AdvisorKhoj is founded by Pradip Chakrabarty, who is also a member of TiE Bangalore. He brings over 25 years of experience in this field. He started his career at a MNC firm, and also worked as a part-time insurance agent selling insurance policies door to door to supplement his income. After working for eight years, Pradip quit his job in 1994 to start Bihar’s first investment advisory firm called Right Choice Securities.
He later expanded his business to Kolkata in 2002 and Right Choice Securities went on to become one of the leading firms in the eastern region. After working on his first venture for close to two decades, Pradip started AdvisorKhoj alone in 2012 while his friend Dwaipayan Bose joined him recently as a co-founder. "My idea is to give financial advisors a face on the web, and popularize their business on the internet. The idea that this business was done more on personal referral led me to start up all over again. I felt that though verbal referral models work well but it is not scalable. In the age of internet, business needs to grow very fast using social and digital media and the same applies to financial advisory business as well. For an individual financial advisor this is difficult. We are thus addressing this concern. We are also providing an opportunity for people to locate a financial advisor in their neighbourhood," explains Pradip.
How it works
AdvisorKhoj has around 24,000 financial advisors from 900 plus locations registered with them and has presence in 5000 plus postal codes offering 20 plus services. At present, they are adding over 3K advisors every month. AdvisorKhoj works on a similar model as Justdial, where an advisor chooses a higher subscription package to appear high on search rankings. Every advisor on AdvisorKhoj is listed only after due diligence of their credentials. They are constantly notified when their certifications are about to expire.
Another aspect of AdvisorKhoj is that you can compare advisors based on a number of parameters such as their qualifications, years of experience, focus areas, number of reviews and distance from your pin code.
AdvisorKhoj connects the user to the advisor by sending the contact details of the advisor to the user via sms and email. AdvisorKhoj does not charge the user for this service. After a user avails the services of an advisor, he is requested to rate the adviser based on his experience which is helpful to other users.
Team and competition
AdvisorKhoj has a 15-member team and is bootstrapped at present. Though services like Dial a Bank, PolicyBazaar operate in a similar space, there is no player in the market to provide any kind of search for financial advisors yet.
Click here to visit AdvisorKhoj.
Want to make your startup journey smooth? YS Education brings a comprehensive Funding Course, where you also get a chance to pitch your business plan to top investors. Click here to know more.