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Client Stories, Mitrais, Software Development

Modoras: Transforming Financial Planning with Innovation

With a systemic interest in finance, Modoras’ Managing Director, Paramjit Sarai migrated to Australia from the UK to follow his dream of owning his own business. Mr. Sarai’s business was initially a one man band, and today Modoras is recognised as a true market leader and trusted name in financial planning.

Modoras Financial Performance Group is the leading privately owned wealth management firm in Australia. The Modoras Group includes FinancialLine Financial Strategy Solutions, StrataStream Wealth Performance, Enevita Financial Performance Solutions, Actocue Financial Business Base and the Navacue Group.

When Sarai Financial Services was established in 1984, financial planning was very simple. A desire to deliver accelerated financial potential to his clients motivated Mr. Sarai to complete a Masters in Applied Finance. This degree, dedication and hard work resulted in the expediential growth of his business, consistently ranking at the top in Queensland for MLC in the late 80’s.

In 1997, Mr Sarai noticed the shortfalls and limitations enforced by financial institutional thinking. A successful application for an Australian Financial Services Licence created opportunities for clients to increase their wealth possibilities. At that stage business practices required the use of multiple software applications and there was limited comprehensive financial business software available. So in 1998 FinancialLine began the design of a software system to increase efficiencies and client service capabilities.

In partnership with Mitrais, “Evolution” software was developed. Evolution operates on a 24/7 basis and is a fully resolved, automated and integrated financial planning software solution accessed online and designed to create greater efficiencies. Evolution also dynamically integrates traditional client relationship management with portfolio management, compliance, workflow management, performance management and marketing capabilities.

Mr Sarai said, “This software is unique, its marketing potential in Australia and internationally is enormous. With custom built solutions designed by its users, we have the advantage of rapid improvements and implementation where necessary, in comparison to a corporately owned system rarely updated.”

When asked about offshore development with Mitrais, Mr Sarai replied, “Mitrais provides a reliable team dedicated to Modoras’ software. They see solutions implemented quickly and our expectations are continuously being exceeded.”

In 2012 Modoras are proud to have developed such an outstanding service offering, where they deliver specific valued services dependant on a client’s life stage and wealth accomplishments. “We benchmark ourselves on our vision for success, rather than on those competitors around us. This keeps our focus clearly on our goals, leaving our competitors trying to catch up,” said Mr. Sarai.

Mr Sarai believes that every Australian has the right to achieve their financial potential and know they have peace of mind and confidence in their future. Modoras’ current suite of services reflects their position in the market, providing the ability to formally offer both a solution for mums and dads, as well as high net worth individuals. “As our company’s growth and evolution continues, we remain committed to working closely with each of our valued clients and partners to help them achieve their goals and financial potential. Modoras provides an all-encompassing suit of solutions for our clients,” Mr. Sarai said.

On Modoras’ future, Mr Sarai said “We will continue to be committed to fulfilling the financial potential of all those we meet. My role is to drive innovation that will support our valued clients’ path for success. Our focus is on continually improving our client experience and to motivate the Modoras team to deliver outstanding levels in customer service. We believe that achieving more is possible.”

“Whilst our concentration is on our clients, we are also dedicated to maintaining our position as the leading privately owned wealth management firm in Australia. This dedication drives our commitment to client education and the development of business partnerships that are based on cultural alignment. At Modoras we truly believe that information is power, we inspire our clients to invest their time with us so together, we can secure their financial future,” he adds.

Modoras holds regular “Master Class” seminars to assist clients to make well informed decisions about their financial futures. The next Modoras Master Class seminar, “7 Deadly Financial Sins for Women” will be held in mid July. Designed for women from their 20’s through to their 50’s, this female-focused Modoras Master Class is designed to discuss the fundamentals of investing and wealth creation in a fun, friendly and relaxed environment.

At the time of writing this article, yet another award was presented to Modoras. They won “Outstanding Business of the Year” – the Commonwealth Bank and Brisbane Indian Times, Multicultural Business & Community Awards 2012.

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