SPK Finserve: Encouraging Wealth Creation with Financial Security

India’s economy is flourishing remarkably, with rising incomes, standard of living, and tax collection contributing to the nation’s economic prowess. Along with spending, consumer behavior in terms of saving and investment has also changed drastically over the past decade, with approx. one crore new investors entering the mutual fund market every year. Rising investments dependent upon increasing awareness are further warranting consulting solutions and comprehensive services, especially among large-scale investors that require strategic advice. Goal-oriented and disciplined advice over mutual fund product selling is the need of the hour, and this is where SPK Finserve shines as a trusted partner.

A multi-solution firm based in Kolkata and founded in 1991, SPK Finserve houses lawyers and financial solutions experts with specialization in Income Tax laws, GST and allied services. A certified Mutual fund and Insurance distribution firm recognized by the AMFI and IRDA, SPK is renowned for its end-to-end customized solutions that support client goals, and achievement of financial freedom. Tailoring its solutions and guidance as per client needs, hand-holding them through every process, and promoting a disciplined investment habit, the company’s trust enables it to be a generational partner.

Transforming Challenges into Opportunities

The Indian participation in the mutual fund market is still restricted to approx 5 percent of the total population. In a vast market that is now completely digitized and offers increased accessibility the opportunity to multiply one’s savings is immense. However, widespread concerns regarding market volatility, lack of awareness and a fear stemming from it, as well as a traditional and conservative approach to wealth multiplication prevents the larger majority from exploring diverse investment options.

With the objective of reversing this challenge SPK Finserve handhold clients through the complete process, guiding them about the best strategies for investing and expanding their horizons. Since COVID, the interest in investing in mutual funds has increased multifold with more and more investors entering the market every day. With the current trajectory, the coming decade is expected to witness an approximate 10 percent yearly rise in the number of participants. SPK Finserve aims to cater to the demands of the growing investor base through its comprehensive solutions. Serving a varied clientele from HNIs to the average income groups, the company tailors its solutions to match the particular goals and capabilities of each client.

Driven by the idea of bolstering India’s financial market participation and educating clients for improved decision making, SPK Finserve has grown into a consulting and distribution powerhouse

Praveen Khemka, Founder & MD

“We have built a trusted reputation in this industry and we now cater to a lot of second and third generation clients. What makes us stand out is that we always think about what is beneficial for the clients, and guide them about the best opportunities”, shares Praveen Khemka, Founder & MD, SPK Finserve.

As opposed to other distributors, SPK does not strive to sell specific products, and rather focuses on understanding why a client is investing, and supporting them through the cycles of greed and fear to maintain discipline which leads to greater returns. The team educates clients on how to channelize their investment, maintain funds for contingencies, and not deter from long-term investment plans.

Passion-Driven Growth Story

Starting its journey in 1991 as SPK Consultants, the firm was limited in its functionality, offering only consulting solutions focused on taxation and legal compliance related issues. Founded by a second-generation lawyer, the firm excelled in this domain. However, understanding the market’s pulse and with a genuine curiosity to cater to diverse client needs, the firm expanded its scope, encompassing more services and products in its portfolio. Bringing in financial solutions under its service range, the firm transformed into SPK Finserve.

However, its journey into financial services was guided by Praveen’s emphasis on educating himself, studying the market first-hand, investing his own money, and learning about it in detail prior to extending its solutions. After learning the ropes, he, along with his team started extending mutual fund distribution services, and has so far turned hundreds of investors into millionaires. Even today, the firm personally tests any product or service before introducing it to clients.

“With consistency and a client-focused culture, we have helped create wealth for hundreds of our clients. The satisfaction of helping clients that entrust us into crorepatis is beyond explanation, and their stories of buying homes or marrying their children luxuriously without taking loans fills us with joy and encourages us to keep doing more”, adds Praveen.

Committed to wealth building, Praveen often assists clients in their time of need, brainstorming ideas for arranging the necessary funds without denting the investment pool. A strict disciplinarian when it comes to investment, Praveen strives to encourage all investors to identify alternatives for critical expenses, helps them design a blueprint, and handhold them through market volatilities to prevent liquidation as far as possible.

This continuous dedication is the result of the firm’s success. Starting from scratch, the company has become a widely trusted and renowned partner for hundreds. Today, it also enjoys the position of NJ India Invest’s largest channel partner for eastern India - India’s largest distributor of mutual fund products. Aligned with the company’s philosophy and ethos, SPK Finserve also emphasizes transparency, client-centricity, process-driven approach, and digitalization. It also focuses on educating clients, through programs like the financial literacy awareness program, sending educational newsletters, and more.

Future Roadmap

Driven by the idea of bolstering India’s financial market participation and educating clients for improved decision making, SPK Finserve has grown into a consulting and distribution powerhouse. It's tailored mutual fund distribution services, Income tax consultancy, R.O.C. compliances, GST services, investment assessment solutions, Insurance services, Inheritance and Succession planning, NRI services, and support with Loans against securities have helped hundreds of people.

“We are driven by our vision to create sustainable wealth for clients to fulfill all future goals at the same time, protecting client’s wealth through the concept of Sampoorna Suraksha. Adding to this legacy, I have also brought my son Pradyumn Khemka into the fold - a qualified advocate with a Master’s in Management and relevant certifications pertaining to Mutual Funds and Insurance. With a keen understanding of modern finance and technology, he has taken the lead in modernizing the firm’s approach, integrating the use of AI to enhance operational efficiency and client servicing at scale. Our goal is to advise clients in wealth creation and make them financially secure for a stress-free life”, concludes Praveen.

For the next phase, the company aims to go beyond working for its clients to help regular people, those who don’t even think of investing. From office staff to domestic help, and everyone under that purview, Praveen is ecstatic about offering guidance and instilling discipline to encourage them to become active investors. He plans to strengthen their commitment into wealth building, even encouraging them to increase SIP investments with hikes to achieve sustainable financial strength. As for the company, the team aspires to achieve INR 5000 Cr of AUM in the coming decade, creating unmatched value for its clients.

Adding a Personal Touch to Data-Driven Financial Growth

Known for its process-centered approach and data-driven insights, SPK Finserve also introduced a personal touch for every client, ensuring their particular goals are understood.

Bringing the human element, the firm strives to minimize and eliminate doubts and concerns among clients, especially in periods of extreme market volatility, which encourages long-term growth.

By placing a personal interest in each client, the firm builds long-term relationships with its clients, focusing on quality-driven solutions that drive real success and growth.

Its focus on transparency and ethical working prioritizing long-term wealth creation and preservation not only put SPK Finserve in a trusted position, but also translates into improved outcomes for clients.