1. What motivated you to launch your own company, Abel Kalpinand Prasad Financial Services?
In early 2006, I was working for Bank of New South Wales as a private banker. I completed numerous tasks for the top 1% of Sydney's richest. Whilst working for them, I noted that the majority of them did have to worry about loan repayments. They had too much money and spent it on worthless items.
I started to get bored and moved to retail banking and saw everyday people come in worried about how they would make their next repayment. They couldn't afford the increasing interest rates. It was then I decided that we needed to start a business to help them manage their expenses and keep up with their repayments.
2. Would you tell us a little more about the services your company will provide?
We have sixteen private investors who have pulled together a sum of $45,000,000 of which we will provide people with low percentage loans.
3. What are some of the most important things you've learned in your twenty years of experience in the banking field?
Only that family is important, and you must always look after your family before work.
4. How would you describe the financial climate of Australia today, and what can Australians do to improve their own financial profile?
The market is very volatile at the moment. More and more people tend to borrow instead of using their own money.
I've taught my children only spend what you have. If you don't have the money, don't spend it.
5. On a more personal note, what do you and your wife like best about living in Sydney?
We love the outdoor environment and the relaxing nature of the suburbs.