With increased initiatives of development across the business and economies today, there is a significant surge in the numbers of high-net-worth individuals(HNIs) especially Indian settlement ratio and pool of new millionaires. This growth has extensively boosted the wealth management industry too, backed by changing regulatory environment and the increasing competition through nuance players entering the realm. Right from trying to understand asset classes and keeping track of portfolio performance to changing investment plans based on shifting market trends, an average investor often has a lot to contend with. In this regard, today as financial services & wealth management companies are supercharging their digital transformation journeys, building solutions taking cybersecurity and human-centered design into consideration to offer reliant financial services to clients, Prosperity Services, is a name that stands differentiated.

Incepted in 2010 by Mohamed Irshad (Founder Director), Prosperity Services is the best-in-class financial distribution services boutique catering expats in the Middle East and UAE by offering excellent return investment plans. It aims to help clients possessing insights and action plans that not just help clients stabilize their wealth but also provide them the exposure it deserves to grow and multiply. Having started his career with Kotak Mahindra Group back in 2003, and

serving there until the start of 2010, Irshad holds significant experience handling multiple portfolios working across the banking & investment sector. With offices in India (Kerela) and the UAE (Abu Dhabi) region, where mostly clients are Middle East region focused (especially Indian and settlement ratio), Prosperity Services was founded to help clients have a sense of security in terms of monetary aspect by managing their wealth efficiently. “It is good to find that the investment market is regularizing in the UAE, hence becoming more seasoned and client-friendly. We are a one-stop investment solutions company for all, however our main focus is on the expats in the Middle East and UAE, including some international clients”, says Mohamed Irshad, Founder-Director, Prosperity Services.

Our approach is totally different because we don't provide a solution unless & until we don't understand what exactly the client requires

Though the company started off as a one man show, it has experienced prolific growth over the years, and that shows in its client retention rate too, which is high given its end-to-end client wealth management portfolio and protection services. The extensive services portfolio of the company include Comprehensive Financial Planning, Direct Equity Services, Pre-IPO & Non-listed Shares, Protection Planning, Mediclaim/ Medical Insurance, Dollar Mutual Funds, Systematic Investment/SIP, and Other Services. “Our approach is totally different because we don't provide a solution unless and until we don't understand what exactly the client requires; and we ensure this through a financial diagnosis (macro-and micro-level findings), ensuring we’re making a solid value addition in terms of the client's financial profile”, shares Mohamed Irshad.

In terms of the quality assurance of Prosperity’s services, as a financial consultant, Irshad himself analyzes its products and solutions preparing a primary checklist. He ensures that the protection is always on a stronger currency side.

Future Ahead
Though the company is not a huge financial conglomerate, but it thrives as a big financial services firm today. Having started with just 23 clients, now it has added 2000+ clients, observing 100 percent YoY growth (until 2018) and 60-70 percent since COVID. “For the future of the company, I want the bottom line of it to be solid. Hence, looking in to increasing our product portfolio, we completely focusing on a fundamentally strong expansion”, concludes Irshad.