Tarun Laroia

Empowering Clients, Enriching Investments

Tarun Laroia

Executive Director,

RA Wealth Private Limited

This principle holds undeniable truth in the investment sector, where trust is a non-negotiable element for success, heavily reliant on transparency and ethics. In the rapidly evolving financial advisory landscape, marked by technological advances and regulatory shifts, Tarun stands as a testament to effective leadership. Executive Director at RA Wealth Private Limited, Tarun Laroia, is redefining the financial advisory industry while remaining agile and adaptable to new strategies and innovations. Believing in acting in the best interest of his clients, even if it means foregoing personal gain or profit, Tarun firmly advocates honesty, a clientfirst approach and clear-cut communication, reflecting perhaps the most critical aspects of modern leadership.
In his interview with TradeFlock, Tarun shared his greatest challenges, the strategies he implemented to address them, and his vision for the future. Explore his invaluable insights for emerging leaders in the financial advisory sector.

Can you summarise your 23-year career in the financial services industry, including key milestones?

My financial career began during my last year of college, starting part-time as an insurance advisor with ICICI Prudential Life Insurance Company. There, I quickly rose to become one of the top 100 advisors. After four years, I transitioned to HSBC Investdirect, focusing on primary market deals and corporate financing. In 2007, my journey took me to ENAM Securities, later part of Axis Bank, where I started the mutual fund distribution desk in Delhi. This role marked my first introduction to leadership. I continued to expand my expertise until 2019, when I joined HDFC Bank as the AVP & Director – Private Banking Group, managing high-networth clients and corporates. Aditya Birla Finance recruited me in 2021 to establish their institutional desk in mutual fund distribution in North India. Then, I made a shift to UTI Mutual Fund as Vice President, advising Senior RMs & Regional Heads of Large Private Sector Banks, Foreign Banks and National Distributors for investments of their Corporates & HNI Clients. Also providing investment solutions to large corporates and family offices. Recently, I accepted a pivotal role at RA Wealth Private Limited, where I am responsible for end-toend strategy formulation and implementation around business development, client servicing, operations, compliance, customer engagement, team management, channel management & corporate sales.

What are your top achievements in managing corporate treasuries, family offices, and high-net-worth individuals?

Throughout my career, advising a large PSU entity I’ve worked with, stands out as a highlight. I had the unique opportunity to guide their investment of Rs. 1800 crores, significantly reducing their tax liabilities. Moreover, I’ve provided financial advice to many large corporates and some individuals who rank among the top 10 wealthiest persons in India. These achievements didn’t materialise overnight but are the culmination of dedicated effort spanning 15-20 years, resulting in the successful outcomes we see today.

How do you foresee the financial services sector evolving in India, and how are you preparing for these changes?

I foresee a bright future for the financial services industry in India. However, it’s crucial to effectively compete with direct investment options to thrive in the wealth management sector. The key lies in offering honest, transparent, and personalised advice. Along with the advisors, clients are becoming more sophisticated and knowledgeable nowadays, gaining a better understanding of market dynamics and other influential factors. Therefore, the guidance we provide must be relevant and genuinely beneficial for them. To stay ahead, I am committed to continuously enhancing the value and precision of our advice, ensuring it aligns with evolving client expectations and market conditions.

What challenges have you faced in establishing mutual fund and insurance distribution desks, and how did you address them?

Setting up distribution desks from scratch presented significant hurdles, particularly when mutual funds introduced direct plans in 2013, allowing clients to invest without intermediaries. This development made direct investment a major competitor, threatening our client relationships. To counteract this, I emphasised honesty and transparency, reassuring clients that our guidance could mitigate risks and increase returns on investment, outweighing the potential savings of 0.1% to 1% from direct investing. The advice from my seniors really helped me here as they taught me that providing honest, client-centric advice, even when it doesn’t directly benefit us, is key to long-term sustainability in this field. The best advice I received from my mentors was profound yet simple:

The key principle to success in this industry is to remember that “In this industry, you are not here to earn but to make your clients earn.”

This principle has guided my approach to financial management, ensuring that client success is always the priority. I emphasise the basics, addressing what clients primarily care about—clearly understanding their investments and returns.

Can you describe a pivotal moment that shaped your leadership style?

Well, no specific moment encapsulates my leadership development because it has been influenced significantly throughout my career. Particularly in my first role, I learned the importance of prioritising people’s needs to drive outstanding results. This philosophy was further refined during my tenure with high-value clients at Axis Bank, HDFC Bank and Aditya Birla Finance, where I gained deep insights into their perspectives and investment strategies.
“We are here to do the most responsible job—advising—where people will put their trust in us blindly, so always do the right thing, no matter what.” – A pivotal piece of advice from my seniors has always stayed with me and guided me in the right direction.