The Hindu Business Line : Finerva Financial to expand network

Its Director (Sales), Mr Pradeep Yuvaraj, told Business Line that the year-old company established its first branch outside Coimbatore in Pune in October 2006 and would soon be branching out into other potential locations.

"The concept of managing finance is not well understood by the youngsters today. They earn huge sums but quite do not know how to manage the same. At Finerva, we create awareness about the various investment avenues, which in turn helps in wealth creation," Mr Pradeep said.

Stating that the company is a neutral agency, he said "we only train individuals to manage their earnings. We are neither into wealth management services nor do we offer advice on investment in a particular scheme or product. We explain the entire range of products and offers under the various schemes and leave it to the individuals to plan their investments," he explained.

When asked the need for such counselling particularly when the awareness levels are much higher than before, he said "most youngsters do not have the time to understand the implications of a scheme or product. Since their disposable income is really sizeable, they fail to plan or budget their earnings properly and invariably end up in huge debt. Even when they plan to invest, they are content if a representative takes care of the investment process while they just sign papers without going through the fine print," Mr Yuvaraj observed.

On his expansion plans, he said the company was looking for angel investors.