Introducing Sandeep N. Setty, the top financial advisor in Bangalore, renowned for his unparalleled expertise in advising celebrities, the rich, and distinguished families. With a prestigious clientele spanning politicians, celebrities, and elites, Sandeep’s global perspective and extensive network across Asia highlight his reputation as a trusted advisor.
HELLO SANDEEP; THANKS FOR TAKING THE TIME TO CHAT WITH US! CAN YOU TELL US A LITTLE BIT ABOUT YOURSELF, WHO IS SANDEEP N. SETTY IN YOUR OWN WORDS?
Sandeep is a lifelong learner, deeply interested in understanding both people’s behaviour and the intricacies of financial aspects, especially in the context of creating a lasting legacy for high-net-worth individuals and families. He is passionate about sharing his knowledge through speaking engagements and writing. One of his greatest joys is envisioning spending the rest of his life surrounded by loved ones, cherished friends, colleagues, and clients.
WHAT INSPIRED YOU TO BECOME A FINANCIAL ADVISOR, PARTICULARLY FOCUSING ON HIGH-NET-WORTH INDIVIDUALS, ELITES, AND AFFLUENT FAMILIES IN BANGALORE?
What inspired me to become a financial advisor, particularly focusing on high-net-worth individuals, elites, and affluent families in Bangalore, was a series of personal and professional experiences that shaped my outlook on life and financial security.
At the age of 25, I faced a significant setback when I lost 70 lakhs in a business venture. This event, coupled with the responsibility of being married, made me contemplate the worst-case scenario: what would happen to my family if something were to happen to me?
The turning point came when a client of mine was diagnosed with cancer in its late stages. Witnessing the distress his family went through during this difficult time deeply affected me and made me reflect on my own family’s financial preparedness.
This experience prompted me to educate myself about personal and corporate financial planning. However, I found the information overwhelming and sought a structured approach. I sought mentorship from global experts, which ultimately led me to achieve economic independence after six years of dedicated learning and application.
Through my journey, I developed a deep understanding of the complexities of wealth and asset structuring. Working closely with Bangalore’s wealthiest families, celebrities, politicians, entrepreneurs, and business houses, I have been able to help them navigate these complexities and secure their financial futures.
My personal experiences have made me empathetic towards my clients, as I understand the challenges they face and the importance of finding tailored solutions to meet their unique needs.
HOW DO YOU APPROACH FINANCIAL PLANNING DIFFERENTLY FOR YOUR PRESTIGIOUS CLIENTELE COMPARED TO OTHER POPULATION SEGMENTS?
High-Net-Worth Families prioritize steady income, privacy, and ensuring continuous asset flow across generations. They think like family leaders, planning for the long-term legacy of their lineage.
At Marvella Global Financial Services, we address these concerns by:
– Ensuring Confidentiality: We keep your assets private while complying with all laws.
– Offering Consolidation: Managing all your assets under one structure for simplified oversight.
– Providing Control: You maintain control over your financial affairs.
– Ensuring Continuous Asset Flow: Your wealth generates income and seamlessly passes to future generations.
GIVEN YOUR EXTENSIVE EXPERIENCE WORKING WITH SOUTH INDIAN CELEBRITIES, POLITICIANS, AND BUSINESS TYCOONS, DO YOU FIND THAT THEIR DIVERSE BACKGROUNDS AND PROFESSIONS INFLUENCE THEIR APPROACH TO GROWING WEALTH, OR ARE THERE COMMON PRINCIPLES THAT UNITE THEM IN THEIR FINANCIAL GOALS?
Absolutely! The diverse backgrounds and professions of South Indian celebrities, politicians, and business tycoons play a significant role in shaping their approach to wealth growth. Despite their different paths to success, they all share a common understanding: “Wealth is not what you earn, but what you keep.” This mindset drives them to seek integrated financial structures that align with their business acumen, allowing them to make informed decisions with confidence. My tax-efficient strategies for high net worth families resonate deeply with them, as they strive to preserve and grow their wealth for generations to come.
CAN YOU SHARE SOME EXAMPLES OF INNOVATIVE FINANCIAL STRUCTURES OR PRODUCTS YOU’VE DEVELOPED SPECIFICALLYFOR YOUR AFFLUENT CLIENTS?
Here are some examples of innovative financial structures or products I’ve developed specifically for my affluent clients:
Income/Assets under Administration Approach: Unlike traditional models that focus solely on assets under management, we work on income/assets under administration. This unique approach is designed to meet your wealth management needs more effectively.
Inter-Generational Wealth Structure: Our financial structure is globally recognized for its inter-generational benefits. It offers a wide range of investment opportunities and flexibility to grow, preserve, spend, and transfer your wealth in a controlled and tax-efficient manner.
Personalized Guidance: Our experienced team is dedicated to assisting high-net-worth families like yours through every step of the process. We provide personalized guidance to help you make the best choices for your inheritance and multi-generational planning needs.
These innovative approaches and products are tailored to ensure that your wealth is managed efficiently, effectively, and in a way that aligns with your long-term financial goals.
WITH YOUR EXTENSIVE EXPERIENCE IN ESTATE PLANNING AND FINANCIAL ADVISORY, WHAT KEY PRINCIPLES OR PHILOSOPHIES GUIDE YOUR APPROACH TO WEALTH MANAGEMENT?
With my extensive experience in estate planning and financial advisory, the key principle that guides my approach to wealth management is ensuring that my clients avoid a common pitfall: being “asset rich, but liquid poor.”
I believe in creating a stream of consistent income for future generations through strategic estate planning. This ensures that your wealth not only lasts but also continues to grow and benefit your loved ones for years to come. Would you like to explore how we can achieve this together?
HOW DO YOU BALANCE TRADITIONAL FINANCIAL PLANNING PRINCIPLES WITH YOUR FORWARD-THINKING STRATEGIES, ESPECIALLY IN A RAPIDLY EVOLVING ECONOMIC LANDSCAPE?
In balancing traditional financial planning principles with forward-thinking strategies, especially in today’s rapidly evolving economic landscape, I focus on income-based wealth management.
Traditional financial planning often emphasizes asset accumulation and growth, which are important aspects. However, my approach goes beyond this by placing a strong emphasis on generating consistent income from your assets. This income-based strategy ensures that you have a reliable source of funds for your current needs while also preserving and growing your wealth for the future.
In today’s dynamic economic environment, where market conditions and financial regulations can change rapidly, this approach provides stability and adaptability. It allows you to navigate uncertainties with confidence, knowing that your financial strategy is designed to generate sustainable income regardless of economic shifts.
By combining traditional principles with forward-thinking strategies like income-based wealth management, I aim to create a robust financial plan that not only meets your current needs but also ensures long-term financial security and growth.
YOUR COMMITMENT TO PHILANTHROPY IS ADMIRABLE. HOW DO YOU INTEGRATE CHARITABLE GIVING AND COMMUNITY SUPPORT INTO YOUR FINANCIAL ADVISORY SERVICES?
Thank you for recognizing the importance of philanthropy in my work. Integrating charitable giving and community support into my financial advisory services is a deeply fulfilling aspect of what I do.
I view charity planning as an integral part of estate planning. It’s not just about giving back; it’s about creating a lasting impact and incorporating society into the family system. I believe that if we fail to do this, we may lose wealth in the long run.
I approach charitable giving with the principle of karma in mind – whatever good deeds we do will eventually come back to us. This motivates me to help my clients incorporate charitable giving into their financial plans in two key ways:
A. If you have the financial means and want to donate, I can help you maximize the impact of your donations while ensuring that your overall financial goals are met.
B. If you want to donate but don’t currently have the financial resources, I can work with you to create a plan that allows you to fulfill your philanthropic goals in the future.
By integrating charitable giving and community support into my financial advisory services, I aim to not only help my clients achieve their financial objectives but also make a positive difference in the world around us.
WHAT ADVICE WOULD YOU GIVE ASPIRING FINANCIAL ADVISORS WHO ASPIRE TO WORK WITH HIGH-NET-WORTH INDIVIDUALS AND ELITE CLIENTELE BASED ON YOUR JOURNEY AND EXPERIENCE?
My advice to aspiring financial advisors who aspire to work with high-net-worth individuals and elite clientele is based on my own journey and experience. I recommend starting by building a solid foundation of experience and clientele.
First, aim to acquire around 100 clients to understand the dynamics of financial advising and to hone your skills. This initial phase is crucial for self-discovery, helping you identify the types of products, concepts, and clients you enjoy working with the most.
During this period, focus on honing both your skillset and mindset. Gain expertise in financial planning, investment strategies, and client relationship management. Cultivate a deep understanding of the unique needs and challenges faced by high-net-worth individuals.
After spending a few years building your experience and client base, you’ll be better equipped to venture into the realm of high-net-worth clients. This gradual approach will not only help you build a strong foundation but also ensure that you are well-prepared to provide exceptional service to this elite clientele.
AS THE AUTHOR OF “HOW THE RICH USE LIFE INSURANCE AS PLAN B AND ADD ECONOMIC STABILITY,” WHAT MOTIVATED YOU TO WRITE THIS BOOK, AND WHAT KEY INSIGHTS OR PRINCIPLES DO YOU HOPE READERS TAKE AWAY FROM IT?
Writing “How the Rich Use Life Insurance as Plan B and Add Economic Stability” was a culmination of years of learning and inspiration from incredible mentors and family members. My twin brother, Sandesh N. Setty, deserves a special mention for his unwavering support and encouragement.
The motivation behind this book was driven by my top clients, who believed that my knowledge should benefit a larger audience. They encouraged me to share my insights on authentic financial aspects through writing books, blogs, and articles.
In this book, I aim to challenge some of the myths that limit wealth creation. I want to train your mind to see through these myths, helping you achieve a productivity breakthrough on an unprecedented scale. While some of the material may be controversial, it is meant to be enlightening and expand your thinking.
When it comes to financial planning, the focus is often on assets. However, I argue that it’s not just about investments; it’s about assets that generate income. I believe that the most expensive insurance is not having any, emphasizing the importance of life insurance as a unique and beneficial strategy during your lifetime.
I reveal rich secrets for the first time to the general public, aiming to empower everyone with the knowledge needed to make informed financial decisions. I challenge you to question everything you thought you knew about money and finances and discover a new path to financial freedom and stability.
All profits from this book go to charity, reflecting my commitment to giving back and making a positive impact on the world. I hope readers will take away key insights and principles that will guide them on their own journey to financial success.
WHAT’S SOMETHING WE SHOULD KNOW ABOUT YOU THAT MIGHT SURPRISE US?
Something that might surprise you about me is how much I enjoy my work in financial planning. It’s not just a job for me; it’s a passion. I often joke with my clients that they’re essentially paying me to do what I love. It’s surprising to realize that I’m actually getting paid to enjoy my life during retirement. I feel incredibly fortunate to be able to do what I love every day and to work with such wonderful people. It’s a reminder that when you do what you love, work doesn’t feel like work at all.
WHERE CAN OUR READERS FIND YOU ONLINE?
You can catch me online at www.sandeepnsetty.com! Let’s connect and continue this inspiring journey together!