How R Subramanya turned adversity into success

Bengaluru-based adviser R Subramanya shares his journey into financial advisory, his new book and more.
By Morningstar |  31-07-18 | 

Early life

Bengaluru-based adviser R Subramanya’s family went through severe financial hardship owing to a huge debt. Since his family could not service the loan on time, they had to sell the house. Subramanya was only six years old at that time. But his family’s financial woes didn’t end there. Subrmanya’s father Rajagopal Ramaswamy was the sole breadwinner in the family. His father firmly believed that education will help his children prosper. So he took another loan to fund four sibling’s education as the proceeds from selling the house went to pay off the loan.

Professional career

Subramanya earned his mechanical engineering degree and got an opportunity to work with MICO Bosch, where he spent a decade. Due to his creative streak and problem-solving skills, Subramanya earned the respect of his colleagues and friends. Many of them would approach him for his suggestions. After a ten-year stint with Bosch, Subramanya realized he could achieve more if he struck out on his own. Subramanya started providing some unique solutions in industrial automation which found acceptance among companies. He built his company from scratch and took it to great heights. After 17 years, he decided to retire and thus wound up his firm.

Foray in advisory

Subramanya says that while he had been a skilled entrepreneur, he lacked money management skills back then. This quest to improve his money management skills attracted him towards the world of finance. Initially he sought the help of his CA but without success. So he decided to find the answers by himself. His fascination with finance only grew which seeded the thoughts of taking up financial advisory as his full-time profession.

His entry into mutual fund advisory coincided with the stock market meltdown. But the negativity surrounding the market didn’t deter him to rethink his decision as he was convinced about the prospects of the industry. He got his ARN license and hit the ground running. From his wide network of contacts, he acquired 60 clients in the first year of starting up his practice. In 2010, Subramanya acquired certified financial planner certification to enhance his advisory acumen. Guiding people to put their financial lives on track and helping them achieve their life goals is something Subramanya cherishes.

His advice helped him earn many referrals and today he manages a client base of 470 clients with AUM of Rs 40 crore in mutual funds. He has a team of six people operating from Bengaluru office to service his clients. Besides referrals from existing clients, being an active member of Business Network International, or BNI, also helps him get new clients.

Passing the torch

Having spent close to a decade in financial advisory, Subramanya is now in the process of institutionalizing the practice. He has set up Abundance Insurance Marketing Firm LLP under which the existing practice will merge into. His son Venkatesh and daughter Haritha are being groomed to learn the ropes of the business. Venkatesh has completed chartered accountancy while Haritha too is pursuing CA.

Spreading his wisdom

Subramanya’s financial hardships in his early life has taught him many valuable learnings which he keeps sharing with his clients. In order to help the larger section of society, Subramanya has put together his life learnings in a book titled ‘Awaken the Millionaire Within.’ The book has been specially written for aspiring salaried individuals. The book describes 21 time-tested principles that he teaches his students to achieve financial independence. “Poverty or prosperity takes birth in one’s mind based on the seeds planted by the early influencers. At birth our brain is empty. Quality of our life is purely dependent on the programs that go into our brain. If mediocre people program our minds we will only end up being like them. On the other hand, if rich and smart people feed us with their knowledge then we will be successful in life. The quality of one’s life is not based on the outer realities but the programs that are planted in his brain,” says Subramanya. Subramanya says that his book has been received well by readers and is being currently sold across 12 counties through Amazon.

Encouraged by the success, Subramanya plans to launch two more books which will focus on empowering women financially and retirement planning.

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