Manalee Verneker delves into how she launched her financial firm, Financial Wisdom and imparting advice on the concept
Manalee Verneker is the founder of Financial Wisdom, a privately established financial services firm based in Goa. After a little more than ten years of expertise in the personal finance industry, Financial Wisdom was established in the year 2021.
Born and brought up in Mumbai, married and now residing in Goa, Manalee is a certified Financial Planner from the Financial Planning Standard Board US and a Chartered Wealth Manager from the American Academy of Financial Management. Her area of expertise includes working with mutual fund companies, wealth management and financial planning companies.
Manalee was inspired to launch her independent practise in Goa as she was passionate about helping people manage their personal finances, promoting financial literacy, and empowering women. She wanted to promote financial literacy after relocating to Goa from Mumbai and has since held over 75 investment awareness sessions in various schools, universities, corporations, government organisations, institutions, etc.
Manalee’s professional journey began in Mumbai as a Relationship Manager with Quantum Mutual Funds, where she was also completing her final few modules of the Certified Financial Planner course (CFP). Addressing clients’ life goals, assisting them in evaluating their present situation and future goals, was something Manalee always found exciting. After completing her course in CFP, she was hired as a Financial Planner in one of Mumbai’s renowned financial planning companies, thus marking the beginning of her career in Personal Finance.
When asked what excites her the most, Manalee said, “Working directly with my clients to assist them is the best aspect of my job along with identifying their current financial state, where they financially stand today, looking at their income, expense, dependence, liabilities and their financial goals. Also, we at Financial Wisdom aspire to reach at a stage where we see each of our clients achieve their financial milestones due to our advice and to share their joy as they go through this fulfilling process.”
Manalee states that her family has always been her greatest supporters. She adds, “My mother always motivated me to be financially independent and encouraged me to start saving and investing early in my teenage life. My husband has always been the wind beneath my wings; he was the one who motivated me to start my independent practice in Goa and always encouraged me to take up challenges in life.” Manalee goes on to elaborate on the hurdles faced in her line of work. “I have always seen my challenges as opportunities to grow. Maintaining a perfect balance between one’s professional and personal life has been the most difficult challenge. As a woman, you have a number of roles that of being an entrepreneur, mother, wife, daughter, daughter-in-law, and so on. Finding the right balance is the key.”
Manalee offers guidance to those who are unfamiliar with the idea of financial planning. She advises, “Planning to buy a bigger home, a better car, your child’s admission to the best college or financial stability during your post retirement years – sometimes your financial goals may seem challenging. However, achieving your goals is simple when you have the right plan to manage your money. Financial planning provides individuals with clarity in their lives by providing direction and meaning to their financial choices. It is also a process of determining how to earn money, save, invest and spend. By planning your finances, you can manage your money and achieve your life objectives. Planning also aids in the management of inflation, which makes a person more diligent in their financial management. You will be able to obtain visibility into your finances in the future. You have a good notion of how much money you will have in 10 years. You also gain confidence in your ability to achieve your objectives. Of course, it is impossible to foresee the future. However, an excellent financial strategy will assist you and your loved ones to tide over the good and bad.”
Financial Wisdom has a vision to engage young families to follow a methodical and structured approach towards their finances and counsel them to understand their relationship with money. They intend to hold more investment awareness workshops in various schools, colleges, corporations, and organisations in order to promote financial literacy; along with the aim of empowering and encouraging them to be financially independent by addressing various concepts such as goal setting, budgeting, insurance planning, investing, and so on.
Manalee’s Success Mantra
Education – As part of their ongoing efforts, they educate their clients by holding workshops to raise awareness about the significance of proper financial planning prior to taking decisions regarding investments.
Reasoning – Financial Wisdom makes sure each financial decision taken for their client is backed with proper reasoning which would help them achieve their financial goals. Reasoning fosters trust, which strengthens their client relationship.
Transparency – They value transparency as financial planning can only be done on the basis of trust.
Manalee’s advice to those interested in pursuing a career in finance is “Personal Finance and Financial Planning is an ideal field if you are passionate about finance. Financial planning is one of the world’s fastest growing professions, and with an enormous imbalance in the demand-supply in India, young people interested in a career in financial planning have a bright future and can take advantage of the many opportunities available in the financial services sectors
