Women money managers: Sridevi Ganesh on being gender-agnostic when it comes to financial planning

In December 2020, Moneycontrol had profiled five extraordinary women who had made their mark in selling financial products across India. In the process, they ended up creating wealth for their customers. But the bigger picture was that they demonstrated amply that women could take charge of money matters – theirs and those of others, too.

Ahead of Women’s Day on March 8, we bring you stories of five other women financial advisors and distributors who continue to spread financial literacy and bring more people into the world of savings and investments. Yesterday we profiled Shiney Sebastian from Cochin. Today, meet Sridevi Ganesh, Co-founder, Chamomile Investment Consultants, Chennai.

Sridevi Ganesh, Co-founder of Chamomile Investment Consultants (Chamomile), Chennai, took to financial planning, thanks to her passion for numbers. In 2002, when she and her husband, both Information Technology (IT) professionals, wanted to make a financial plan for the family, they were unable to get holistic professional advice.

The keenness to put a plan in place pushed Ganesh to complete the Certified Financial Planner’s course in 2006-07. Thus was born her boutique financial planning firm Chamomile, in February 2008. “I wanted to offer my clients what we were looking for when we needed it: unbiased advice,” says Ganesh. Today, she has many clients from various walks of life and social strata.

Ganesh is a fee-based financial planner. She is also a SEBI (Securities and Exchange Board of India) Registered Investment Advisor (RIA).

An early mover to fee-based financial planning

In the early 2000s, clients were not forthcoming with paying fees for financial planning services. However, Ganesh was sure that she would offer exclusive financial planning services based on a fixed fee. Her firm belief was that only those willing to pay a fee would be serious about making a plan and sticking to it.

An engineer with a diploma in management, Ganesh’s passion for numbers is put to good use in drafting financial plans deftly for her clients. Her strength is her patience in listening to her clients’ life experiences, trials and tribulations, successes and failures, while interspersing them with her own anecdotes and stories. As an RIA, Ganesh doesn’t earn commission income. She charges fees from her clients, instead.

Folklore has it that the Chamomile flower brings good luck. It is supposed to have medicinal properties. Ganesh chose this name for her firm.

A fulfilling journey

The name seems to have brought luck to her clients. One of her clients achieved her dream of building her retirement fund, while funding her son's and daughter’s education, buying a house, and saving for her daughter’s marriage over the years, by herself. “There is a sense of gratification in helping people set their goals and seeing them finally achieve them,” she says.

Her long list of clients that are spread across professions, income levels, cultures and social strata have made her journey fulfilling. Clients have been able to get rid of debt piles without stress, or meet financial requirements to provide sound education for children, or build a big house or save enough for post-work years.

By 2013, Ganesh was registered an RIA.

During unprecedented events such as the global financial crisis or the recent pandemic investors have a relook at their plans. Then there are investors who dabble in markets but suddenly come back when the tide turns rough.

Ganesh has meticulously worked around these issues over the years. For those with such “action bias,” she sets a mini action plan within the financial plan, with which they can play around.

She urges her clients to review plans at least once a year. “Life is dynamic and so are the economy and society, all of which impact our financial goals and plans,” explains Ganesh. She cites the simple example of how clients who were vehement on using shared mobility such as Ola and Uber, are now wanting to buy a car, after the pandemic.

A financial plan helps you adapt more easily to life changes and reassures you that your goals are on track. Having a plan helps to view each financial decision as part of the whole; you can consider its short and long-term effects on your life goals.

Women in financial planning

Ganesh is of the view that women are effective as financial planners. They are good at managing their own money, too. “Families feel more comfortable talking to a woman about planning for their children’s future, marriage and even lifestyle issues during retirement. Also, single women feel at ease while discussing their finances and sharing their views, dreams and fears,” she explains.

Does she do anything special to empower women in personal finance planning? “Nothing special. I am gender-agnostic when it comes to financial planning and it worked well for me in building my career over the years,” she says. However, she is impressed that financial planning is picking up as a way of life and that the younger generation is reaching out to set goals and even plan for retirement.