In an exclusive interview with The Enterprise World, Manju Mastakar, Managing Director of Armstrong Capital & Financial Services Pvt. Ltd., shares her journey from corporate roles to entrepreneurship, and how she has built a financial advisory firm rooted in trust, integrity, and a client-first approach. With a unique leadership style that blends strategic vision and emotional intelligence, Manju has not only redefined financial planning but also empowered her team to continuously grow and excel in the fast-paced finance industry. Her story is one of resilience, innovation, and dedication to providing personalised financial solutions tailored to the unique goals of her clients.
Can you describe your leadership style at Armstrong Capital & Financial Services Pvt. Ltd.?
My leadership style is a blend of strategic vision, approachability, and empowerment. I believe in clear communication and transparency, which I feel are crucial in fostering a motivated and valued team. My goal is to create an environment where my team feels encouraged to take ownership and grow, both personally and professionally. I also emphasise continuous learning, especially in the fast-paced finance industry, where staying updated with market trends and client needs is vital.
How do you manage to balance decision-making with understanding your clients’ needs?
I combine expertise with emotional intelligence in my approach to both clients and decision-making. While it’s important to make smart, informed decisions, I also recognize the importance of truly understanding clients’ goals, concerns, and aspirations. It’s not just about providing a financial solution—it’s about ensuring that the solution aligns with the client’s long-term vision. This client-first approach drives everything we do at Armstrong Capital.
Trust seems to be a key element of your leadership. Can you elaborate on that?
Trust is absolutely essential, both within my team and with our clients. I lead by example, always aiming to inspire growth and excellence through integrity. My team knows that they have the freedom to manage their responsibilities, but also that I’m here for support when needed. With clients, building trust is even more crucial. I want them to feel confident that we are always acting in their best interest, and that we’re as committed to their success as they are.
You made a significant shift from corporate roles to entrepreneurship. What motivated that change?
My move from corporate life to entrepreneurship was driven by a strong desire to create a financial advisory service that was truly client-focused. In large organizations, I often noticed a gap between what clients needed and what was being offered. The emphasis was on selling products, rather than providing personalized advice. I wanted to change that, and that’s what led me to start Armstrong Capital—where we take a broader view of financial planning, factoring in past investments, future goals, and creating tailored strategies that truly benefit our clients.
How was the transition from the corporate world to running your own business?
The transition wasn’t easy, to say the least. Moving from a structured corporate environment to managing everything on my own was a challenge. I started from scratch, with a small office, handling client acquisition, operations, and everything in between. It was especially difficult to gain clients’ trust, particularly as a woman in a male-dominated industry. Balancing the demands of entrepreneurship with motherhood required careful time management and a lot of perseverance.
Despite the challenges, what kept you motivated to push forward?
What kept me motivated was the opportunity to innovate and offer services that were based on genuine client needs. I wanted to build a brand centred on integrity and a client-first approach. Seeing the positive impact we could make on people’s financial lives was, and still is, incredibly rewarding. My early experiences taught me resilience and adaptability, and those lessons continue to guide me on my entrepreneurial journey.
How do you maintain long-term motivation for both you and your team?
I focus on setting clear priorities and celebrating small successes. It’s important to recognize achievements, no matter how small, as it keeps the team motivated over the long term. I also trust my team to take charge of their responsibilities, which gives them a sense of ownership and keeps them engaged. Continuous learning, celebrating wins, and maintaining a positive, transparent environment are key factors in keeping everyone motivated.
Looking back, what advice would you give to women aspiring to enter the financial industry or start their own business?
My advice would be to stay resilient and focused on your goals. The financial industry, like many others, can be challenging, especially for women, but perseverance is key. Trust in your abilities, continue learning, and always keep the client’s best interests at heart. Building a business based on integrity and genuine value will always stand the test of time. Balancing life and work will have its difficulties, but with careful management and a clear vision, you can succeed.
How did your early experiences on Dalal Street and at firms like Motilal Oswal and HSBC shape your approach to investment management and client relationships?
Starting my career on Dalal Street was a transformative experience. It exposed me to the fast-paced nature of stock trading, where I learned the importance of making quick, informed decisions and understanding market dynamics thoroughly. At Motilal Oswal, I developed a strong foundation in both fundamental and technical analysis, which became essential in providing personalized advice to High Net-Worth Individuals (HNI). This experience taught me the value of tailoring investment strategies to clients’ specific goals and risk profiles, which I continue to prioritize today.
How did your time at HSBC further shape your financial planning approach?
Working at HSBC broadened my perspective beyond just investments. I transitioned into a more comprehensive approach to financial planning that included insurance and wealth management. HSBC’s structured global framework highlighted the importance of being process-driven and implementing effective risk management strategies. This experience reinforced that successful investment management is not solely about returns, but about understanding clients’ broader financial goals and building trust through clear communication.
What key principles guide your investment planning and financial management strategies today?
I am deeply committed to ensuring my clients’ portfolios are both resilient and profitable. Several key practices guide my approach:
- Research: My team and I conduct thorough research by tracking economic indicators, analyzing market trends, and staying informed through industry reports, events, and consultations with experts.
- Dynamic Allocation: I believe in adapting to changing market conditions through dynamic asset allocation. Regular reviews and adjustments based on economic cycles and client goals keep portfolios on track.
- Diversification: I prioritize diversification across asset classes, geographies, and sectors to mitigate risk. We also consider alternative investments such as Real Estate Investment Trusts (REITs) and Alternative Investment Funds (AIFs) to create additional growth opportunities.
How do you maintain clear communication with clients, especially during market fluctuations?
Client communication is a top priority, particularly during volatile market conditions. I ensure clients receive clear, consistent updates about the state of the market, strategic decisions we are making, and the current status of their portfolios. This helps build trust and reassures them that their investments are being managed proactively.
How does technology play a role in your investment management process?
Technology is crucial for staying ahead in today’s fast-moving markets. I utilize the latest tools and platforms for real-time data analysis and decision-making. This allows me to act quickly and accurately, ensuring my clients’ portfolios are always optimized for long-term success. Technology enhances both the efficiency of my decision-making process and the accuracy of the strategies I employ.
How do these practices contribute to long-term success for your clients?
By combining thorough research, dynamic asset allocation, diversification, clear client communication, and cutting-edge technology, I ensure that my clients’ portfolios remain strong and well-positioned for long-term success. These strategies help mitigate risks, capitalize on market opportunities, and align closely with clients’ financial goals.
Looking back on your career, what do you consider one of your most significant achievements?
One of the achievements I’m most proud of happened early in my career when I broke into the predominantly male-dominated dealing room. It was a challenging environment, but I was confident that my skills and determination had earned me a well-deserved place there. Proving myself in that space and earning the respect of my colleagues was a defining moment for me.
How do you and your team ensure that each client receives personalised attention?
At Armstrong Capital & Financial Services Pvt. Ltd., we take great pride in managing a large client base while maintaining personalised attention. We achieve this through a combination of structured processes, effective technology, and a client-first approach. Each client is assigned a dedicated Personal Investment Adviser and a Service Manager, so they always have someone who understands their financial goals and can offer personalised advice and ongoing support.
How do you use technology to manage a large client base while maintaining a personal touch?
We use technology, such as CRM tools, to stay organised, track client preferences, and send personalised updates. Automation streamlines routine tasks, allowing advisers to focus on building relationships. Regular communication, including personalised updates, market insights, and educational resources, keeps clients informed and engaged.
What kind of communication strategies do you have in place to keep clients informed and engaged?
Our company supports personalised updates, market insights, and tailored advice to keep clients informed and engaged. They also offer educational resources such as webinars and newsletters to help clients feel confident in their investment decisions.
How do these strategies contribute to your long-term success in managing client relationships?
The combination of personalised service, structured processes, and effective use of technology has been essential to the success. It allows us to maintain strong, lasting relationships with clients, helping them achieve their financial goals and ensuring they always feel supported and valued. This client-first approach has been a key factor in our growth and continued success.
What is your vision for Armstrong Capital & Financial Services Pvt. Ltd. over the next five years?
My vision is to establish Armstrong Capital & Financial Services Pvt. Ltd. as a leading wealth management firm within the next five years. To achieve this, we will focus on client-centric solutions and innovative financial strategies. Enhancing our digital platforms will be a priority to ensure seamless client interactions, advanced data analytics, and personalized financial solutions. We aim to leverage fintech innovations to offer adaptive and tailored services, including unconventional assets like REITs and AIFs. Diversification and long-term financial planning will be central to meeting our clients’ evolving needs, while trust and personalized advice will remain at the core of our strategy.
What factors have contributed to the growth of Armstrong Capital & Financial Services under your leadership?
Our growth can be attributed to several key factors: a client-centric approach, specialized expertise, a holistic service offering, innovation, technology adoption, a strong team and leadership, strategic growth, and effective risk management. We’ve differentiated ourselves through adaptability and a commitment to building long-term relationships based on trust and personalized service.
How have financial markets evolved during your career, and how has technology played a role?
Over the past two decades, I’ve witnessed significant changes in the financial markets. When I began in 1997, transactions were conducted face-to-face with floppy disks and limited mobile technology. Today, digital transactions are the norm, accelerated by demonetization and the pandemic. The integration of the Aadhar system for online KYC processes and the shift to digital operations in the mutual fund sector have transformed the industry. Fintech innovations like robo-advisors, AI analytics, and automated platforms are making financial advice more accessible and personalized, while alternative investments such as private equity, REITs, and cryptocurrencies are becoming more popular.
What is your approach to staying current with industry developments and fostering a learning culture?
To stay competitive and provide value to clients, I prioritize continuous learning and knowledge-sharing within our team. This includes engaging in industry forums, webinars, and keeping up with financial news. We encourage team members to pursue new expertise and certifications, and promote internal discussions on market changes and innovations. Creating a culture of learning helps us adapt and stay ahead in the evolving financial landscape.
How do you approach mentorship and team development, especially with freshers?
I place great importance on mentorship and prefer working with freshers who bring enthusiasm, curiosity, and a strong willingness to learn. I find it incredibly rewarding to help them grow from novices into skilled professionals. Unlike seasoned professionals who might be set in their ways, freshers approach learning with open minds, making the mentorship process more dynamic and impactful.
What advice do you have for young women pursuing careers in finance?
For young women entering the finance industry, I recommend focusing on resilience and confidence. The industry can be challenging, but persistence and a willingness to learn are crucial. Embrace opportunities that push boundaries, build a strong network of mentors and peers, and continuously develop your skills. Being adaptable, open to feedback, and believing in your abilities are essential. Women bring valuable perspectives to leadership roles, and it’s important to approach challenges with confidence and strive to make a meaningful impact.
