We recently connected with Nik Agharkar and have shared our conversation below.
Nik, looking forward to hearing all of your stories today. So let’s jump to your mission – what’s the backstory behind how you developed the mission that drives your brand?
We are on a mission to bring comprehensive financial management to all Americans. We work with all kinds of people to develop good financial habits, provide investment advice, and with an attorney on our team, we provide a truly comprehensive service. As a fully independent firm we pride ourselves as having no other agenda than helping our clients achieve their goals – whereas others may push clients in a certain direction, we help our clients make their own decisions because at the end of the day, this is their money and we are honored to be their stewards.
Nik, love having you share your insights with us. Before we ask you more questions, maybe you can take a moment to introduce yourself to our readers who might have missed our earlier conversations?
I spent fourteen years as a litigator, and then transitioned to wealth advisory and strategic tax planning. What really sets Shore Haven Wealth Partners apart is our independence. Where other advisors are reliant on big backers (like Morgan Stanley, LPL, or an insurance company like Prudential or New York Life) to tell them what they are allowed to sell to their clients, we don’t sell our clients anything. Our process has been perfected over the last forty plus years of helping clients achieve their financial, and in some cases, their life goals as well. We’re very proud of the fact that we work with our clients to set goals, make a plan for how to achieve them, and then execute. Often our clients come to us focused only on their investment returns. We work with them to help them pay less in taxes and transaction costs so that our clients actually keep in their pocket. Plus we have the capability to work on estate and tax planning since I have that legal expertise. We’re a boutique experience that serves discerning investors looking for a truly comprehensive approach to their investments, tax planning, and legacy planning. Just like our clients, we are not one dimensional.
Can you talk to us about your experience with selling businesses?
I was fortunate enough to grow and then sell my own book of business. I started a law firm, worked some digital marketing angles that were available before data privacy, networked a ton, and was able to grow from 0 clients to 122 in nine months. The biggest lesson I learned is that growth can be a dangerous drug! Once I started signing clients at a clip of 10 a week it became intoxicating. I kept growing without thinking carefully enough about fulfillment. This left me working until 2am most days and then a few hours every weekend. The business I was so proud of had become an albatross. I had to sell into an existing firm which provided relief, but not working on building a business and not having to manage all of the finances – those were the parts I liked! Most people hate that part about running a business, but the management of operations and finances is what I do best, not the lawyering part. So I’ve pivoted my practice and expanded into wealth management so that I can follow my passion for showing people how easy it really can be to gain financial freedom. While growth is important, it must be done in a methodical and deliberate way – too much growth too quickly can be just as a bad as having no clients in the first place!
Let’s talk about resilience next – do you have a story you can share with us?
When I started my own firm we had a toddler and I had no plan. We had some savings, but really me leaving the firm I was at to start my own thing was not exactly a planned event but was rather a reaction out of some frustration on my part. There was a lot of pressure in the first couple of months and things got pretty bleak pretty quickly. But the one thing that kept me going was the belief in my system. One thing I did do was map out and strategize how each of the systems and processes in the business would work together to achieve the result I was after: getting clients. I had to have faith that it would work – of course there was some luck involved – but its the commitment to an idea, a goal, a north star that really kept me going so that I could push through and make it work.
Contact Info:
- Website: https://shorehavenwealth.com/team/nikhil-agharkar-esq/
- Linkedin: https://www.linkedin.com/in/nikagharkar/
- Other: https://www.smrtt.com
Image Credits
Please don’t use images other than my headshot. I am not a marketing person and don’t know how we want to use these images. I don’t want photos to be used.