The world has changed drastically within these past few months due to the sudden outbreak of Coronavirus which eventually took the form of a pandemic followed by nationwide lockdown. India is faced today with perhaps its greatest emergency since Independence. Although, back in 2008-09, the global financial crisis was a massive shock but still our workers could go to work but none of it is possible in this current situation. So maintaining a financial balance has become very important for everyone and it will be best if we take guidance from a professional financial advisor.
Financial service is a part of financial system that provides different types of guidance in finance through various credit instruments, financial products and services. In financial services, we come across different types of mutual funds, extending various types of investment opportunities. In addition, there are also products such as credit cards, debit cards, etc. It is the presence of financial advisors that enables a country to improve its economic condition whereby there is more production in all the sectors leading to economic growth.
Shasank Jalan, the owner of Jalan Financial Services is a CA and is working as an Independent Financial Advisor. His main focuses are on accountancy, taxation and financial advisory for individuals as well as Corporate Houses. When asked about his tips on maintaining financial stability in this current situation he said that people should focus more on small things currently. This outbreak will change the way we used to work or live, almost similar to the situation post world war. He also mentioned that he has a team working from home, helping and advising clients. His entire setup is online ensuring that the clients’ requirements are being fulfilled even at this point of time. His firm is ensuring that in times like this, the clients are able to access their savings nest and are hand holding them through the necessary processes, trying to provide them with opinions and information from experts around the world.
Mr Jalan said that he does not deny that the future will be a challenging one, but he is hopeful too. According to him the Indian economy is very much self-sustaining as we are more based on consumption and investments than exports. We believe with the right policy actions, Indian economy will be back on its feet after this temporary challenging phase.
He also has exposure to the banking sector and has conducted modelling (considering the Basel III norms), interpretation and analysis of bank’s financial statements, regression analysis, DDM, public comparable, precedent transaction and competitor benchmarking. He believes his firm should be independent and free from influence.
Jalan Financial Services offers unbiased, objective advice to help their clients to make important decisions. As an independent advisory firm, they act as a fiduciary and have no sales targets or pressures to sell products. Shasank Jalan himself says, “What is best for you is what becomes best for us.”