EPISODE 4 MOTILAL OSWAL HD 22MIN

Summary

In this inspiring episode of 'Chartered Accountants: The Growth Gears,' Shilpa Bhavna interviews Motilal Oswal, the Managing Director and CEO of Motilal Oswal Financial Services. From humble beginnings in a small village in Rajasthan to leading a major financial services firm, Mr. Oswal shares his journey, the pivotal role of a Chartered Accountant (CA) in shaping businesses, and the importance of ethics, trust, and emotional intelligence in business. He encourages aspiring CAs to stay committed, work hard, and focus on building relationships. His story serves as a powerful reminder of how passion, persistence, and professional integrity can drive success and contribute to the nation’s economy.

Takeaways

• 😀 Chartered accountants are highly valued for their ability to understand and contribute to business growth, taxation, CSR, and employment generation.
• 😀 A strong local economy, driven by the right professionals, helps to strengthen the global economy, as noted by the speaker.
• 😀 The journey of Motilal Oswal, a chartered accountant from a small village in Rajasthan to the CEO of a major financial services firm, highlights the potential of hard work and determination.
• 😀 Being a chartered accountant gives an edge in financial services due to the deep understanding of corporate balance sheets, taxation, and auditing.
• 😀 Trust and integrity are essential in the financial services industry, and a professional degree like CA can enhance customer confidence.
• 😀 The journey of becoming a chartered accountant is challenging, especially for those transitioning from Hindi-medium schools, but commitment and hard work can overcome these hurdles.
• 😀 Success is driven by commitment, clarity of goals, and self-confidence. One should stay focused on their destination despite challenges.
• 😀 Aspiring chartered accountants are encouraged to gain experience in the field, and organizations like Motilal Oswal are welcoming to fresh talent.
• 😀 A defining moment for chartered accountants is when they achieve their degree after years of hard work, as seen with Motilal Oswal’s personal experience.
• 😀 Financial markets, driven by research and knowledge, offer abundant opportunities for chartered accountants to make significant contributions to the economy.
• 😀 The importance of emotional intelligence (EQ) grows as professionals rise in their careers, with EQ becoming more important than technical skills in leadership roles.

Q & A

What is the significance of the Chartered Accountancy profession according to Mr. Motilal Oswal?

Mr. Motilal Oswal emphasizes that the Chartered Accountancy profession is crucial for understanding business operations, financial management, and providing a holistic perspective on corporate decision-making. The CA profession equips individuals with essential skills for leadership and business strategy.

How did Mr. Oswal’s background as a Chartered Accountant influence his career in the financial services industry?

Mr. Oswal credits his CA background for giving him a deep understanding of business financials and operations, which proved vital in his journey to build and lead Motilal Oswal Financial Services. The knowledge gained from the CA profession enabled him to navigate complex financial markets and make informed business decisions.

What role does humility play in achieving long-term success, according to Mr. Oswal?

Humility is one of the core values that Mr. Oswal emphasizes as essential for success. Regardless of one's position or achievements, maintaining humility allows for continuous learning, effective leadership, and a more balanced approach to handling both professional and personal relationships.

What is Mr. Oswal’s advice to aspiring Chartered Accountants from smaller districts?

Mr. Oswal encourages young professionals from smaller districts to dream big, stay focused on their goals, and work hard. He believes that despite any challenges, determination and hard work can lead to success, regardless of one’s background.

What does Mr. Oswal believe is the most important quality for someone in a leadership position?

In leadership, Mr. Oswal believes that emotional intelligence and the ability to manage relationships are crucial. As leaders rise through the ranks, technical knowledge becomes secondary, and interpersonal skills such as empathy, communication, and understanding are key to managing teams and making sound decisions.

How did Mr. Oswal’s company contribute to society during the COVID-19 pandemic?

Motilal Oswal Financial Services took steps to provide assistance during the COVID-19 pandemic. They supported various charitable initiatives, showcasing the company’s commitment to giving back to the community and helping those in need during challenging times.

What does Mr. Oswal mean by having a 'clear goal' in one’s career?

A clear goal, according to Mr. Oswal, is essential for staying focused and motivated throughout one’s professional journey. Having a well-defined target helps professionals maintain their direction, prioritize their efforts, and stay committed to their long-term vision.

What was the driving force behind Mr. Oswal’s entrepreneurial spirit in founding Motilal Oswal Financial Services?

Mr. Oswal’s entrepreneurial spirit was driven by his desire to contribute to the financial services sector and provide value to clients. His background as a Chartered Accountant gave him the necessary foundation to build a company that would offer comprehensive services, from brokerage to investment management, with an emphasis on ethical business practices.

Why does Mr. Oswal place such importance on values like integrity and commitment in business?

Mr. Oswal believes that values like integrity and commitment are the pillars of long-term success. He stresses that a company's reputation, built on trust and ethical behavior, is vital for sustainable growth. By upholding these values, businesses can foster lasting relationships with clients and stakeholders.

What impact does Mr. Oswal believe the CA profession has on a country’s economic development?

Mr. Oswal views the Chartered Accountancy profession as a critical component of a country's economic development. CAs play a key role in financial management, governance, and compliance, ensuring that businesses operate efficiently and contribute to the overall growth and stability of the economy.