MIRR Investments: Financial Inclusion And Freedom With Indulgence

MIRR Investments: Financial Inclusion And Freedom With Indulgence

Namrata B Durgan

It is about time the smart investor, especially women, wake up to understand that the true measure of their financial independence, is `'Indulgence is Freedom' which is the mantra of MIRR, says Namrata B Durgan, the Founder of MIRR Investments.

With MIRR, Namrata aims to usher into a deep cultural shift in individuals and more so among women regarding financial independence, literacy and inclusion. Over the years, she has influenced many young adults to take that step toward `financial freedom'

"In this world of numbers and technology, MIRR is growing organically and making a difference in people's lives. In whatever we do, our focus is to help every person from different strata of the society attain financial freedom, SIP by SIP" she adds.

As an AMFI-certified Mutual Fund Distributor, MIRR offers money solutions tailored to fit the lifestyle, ambitions and goals of the smart Indian investor, especially women. Nurturing a long-term nest egg, saving for your child's education, buying a home or expanding your financial portfolio: MIRR makes it happen.

Hence, MIRR is opening new horizons for wealth creation and fulfilment of their life's finance algoals and dreams. A path that not only encourages but empowers them to take full ownership of their hard-earned money; a step further from Financial Independence to Financial Freedom.

To know more about her & the company, kindly peruse the exclusive conversation between Namrata & Women Entrepreneur India.

Take Us Through Your Journey That Led To The Establishment Of MIRR Investments.

I grew up in East Africa and I came to India for my education and completed Bachelors in Commerce from Delhi University.

I then ventured into publishing, operations, retail, product development and CRM initiatives. In 2003, I was introduced to the world of investments by my husband, Sanjay Durgan. Then I noticed a gap. I realised that investors were mostly men, and the participation of women generally was extremely low.  However, the decision to start MIRR came about after an incident in a party. Sanjay and I had attended this party, and there we were introduced as Financial Consultants. I met a well-dressed woman who was working in a top-level position in a multinational corporation. She told me that she has never done any form of investments because she thought she'd need a lot of money for that. I was awe-struck! This incident made me realize the importance of spreading awareness regarding financial inclusion and investments. I made up my mind there and then and decided to start a firm to help create this awareness and provide financial freedom to individuals, especially women. There has been no going back since then.

The philosophy of the company is `indulgence is freedom' because I believe that freedom can only be achieved if we take100% responsibility and full ownership of the money we earn. If you are competent enough to earn, I believe you are competent enough to take your own investment decisions,too. It is all inter-related. Overcome your fear and deep conditioning of not taking money decisions and leaving investment decisions to family members. Break these barriers with indulgence. Of indulging yourself, say with a holiday. Starting with a goal of gifting a holiday to your family, you work towards this goal by investing. Here you have no fear but pure indulgence. By investing, you make your money work for you, rather than you working for money.

What Are Some Of Your Prior Experiences That Are Still A Part Of Your Approach To Leadership?

I am a very hands-on and action-oriented person. I like working as a team and identifying the team's strength which keeps me motivated. I am an extrovert and empathetic with my approach so I easily connect with my clients. Since I am a people-person, not only do I help clients with their investments, I also end up becoming a personal coach for them.

How Do You Keep Yourself Well-Aligned With Every Change Taking Place Within The Industry

We attend trainings, conferences and webinars with our professional network to upgrade our skills. We also continuously educate ourselves to be in line with new rules and regulations in the industry. MIRR taps into the expertise and experience of its parent company, AbunDanze, a mutual funds distributor.

What Is Your Take On Women In Top Leadership Roles?

Women have the power but don't use it to lead; which is the biggest drawback. The deep conditioning of pleasing everyone at the cost of self-sabotage keeps us at bay. We often don't negotiate and demand what we rightly deserve. However, in recent years, things are changing. Many companies are incorporating new regulations with regards to period and maternity leave, creche availability at work, work from home, among other facilities.  There has been a tremendous increase in women-led companies and countries, and I believe there will be more going forth. Women in leadership roles can be of tremendous value to an organisation as they can provide a different perspective. They bring forth the core values of Empathy, Trust and Culture with them. There is certain level of sensitivity that can help organisations become socially responsible and environmental friendly. The government is also very keen to promote women's welfare with various national-level schemes.

“The philosophy of the company is `indulgence is freedom' because I believe that freedom can only be achieved if we have 100% responsibility and responsibility only comes with a sense of ownership and ownership exists when we earn money”

I was privileged to have a moment to present on mission to our Vice President of India, Shri Venkaiah Naidu in Oct 2019.

Tell Us About Future Plans For MIRR Investments.

My aim is to serve investors with trust and transparency in every household in India. Just as you say Xerox instead of `make a copy', people should be able to say, `MIRR it' when they want to invest.  As for the future strategies, MIRR is planning to delve deeper into the arena of impact investments and promote conscious investing. In the coming decade we see environmental, social, and governance or ESG factors forming the core part of investment decisions globally. We see ourselves evolving and working in the sustainable and impact investment space.

What Are Some Of The Different Investment Services That MIRR Investment Specializes In? What Is The Company's Approach To Investment? How Does The Team Adapt To Cater To The Needs Of Different Clients?

We specialize in mutual funds, Bonds and Global Investment options through our partner affiliations. Our approach is capital preservation and minimizing risk for our investors, by not putting all eggs in one basket and making our clients aware of various options available for decision making.

Once we have the response to "Know Your Client", which includes the risk profile, the team automatically knows the follow up steps. We have seamless paperless onboarding of customers and based on different risk profiles the team is trained to handle, execute, and monitor the investments. In the age of fintech where everything is online and paperless, it becomes very easy for the team to not only onboard new clients but also to review, monitor and execute as per client needs. For client's smooth experience, we have MIRR Investments APP both on Android and Apple.

As A Business Leader, Who You Admire?

Nita Ambani because she did not stay under the shadow of her husband. She has made a name for herself and used her power to help others.

Of all the powerful and influential women who have always emphasized on giving back to society, Nita Ambani is at the forefront. 

Namrata B Durgan, Founder, MIRR Investments

Namrata was born and brought up in Africa, she came to India for her education and completed Bachelors in Commerce from Delhi University. She was introduced to the world of investments by her husband, Sanjay Durgan in 2003. Nam-rata aims to usher into a deep cultural shift in individuals and more so among women regarding financial independence, literacy and inclusion.