x

Start investing with a
free Kristal.AI account.

icon

Simple. Secure.

*Error message

4 Mins Read

Beyond Buffett: Talking Finance with Women (#2 — Ferzin Patel)

Blog Feature Image- Ferzin Patel

Beyond Buffett is a series of interviews with real women, in which we explore the female experience in the traditionally male-dominated world of money management, and women’s attitudes towards wealth.

In this blog, we’re talking to Ferzin Patel, founder and curator at Canvas and Weaves – an online gallery for fine art and sustainable fashion in Singapore. Ferzin has curated well-received art exhibitions in Singapore, and co-hosted an exclusive line of Indo-Western garments for a number of years. An avid spokesperson for women following their dreams, she cautions against ‘pinkification’ and lip-service in the financial services to attract the fairer sex.

Kristal:

Can you tell us a little about your personal money journey? Were you always financially savvy, or was there an incident which helped you understand the value of better wealth management?

Ferzin:

My mother had hammered the importance of ‘savings’ & ‘financial independence’ from a very young age. I got my very own savings account when I could barely reach the teller counter.

I was unabashedly proud of filling up the deposit slip; signing and see my money grow in my bank account. Pocket money, birthday cash, cash gifts on festivals, everything was stashed away in my account. At the end of the year I would use my savings to buy something that I fancied. It made me happy, and very confident at a young age.

 

Kristal:

We’ve seen women joke that they weren’t good with finances because they did not ‘speak Math’. In a survey done in Britain, 1 in 3 women said they wouldn’t know what to do about money if they were separated from their partners.

A lot of women second guess themselves when it comes to money matters and prefer someone else taking these decisions. Have you ever found yourself in such situations, and what was your reaction?

Ferzin:

It is naïve to believe that women are not good with finances. And it’s passé to think that women take care of the house and kids and men are the breadwinners.

It’s imperative for spouses to play an equal part in the financial planning. As a couple, two individuals bring with them two different perspectives on saving, spending, and investing—not to mention what’s an acceptable level of debt or risk.

You may choose to leave the execution with one of the spouse or an independent financial advisor, but financial goals have to be discussed by the couple as it about their future and how each partner has envisioned everyday life and our life together.

 

Kristal:

Following up from the previous question – women today have access and opportunity for financial empowerment, but we do not always make the best use of it. They also have a bad rep for being overspenders, impulsive shoppers, and what not.

Do you think women are their own worst enemy when it comes to money matters?

Ferzin:

I don’t completely believe in this theory. If women are as involved as their counterpart to plan for their future, and set short-term and long-term financial goals, they would make more informed choices. After all, as per studies women are more risk-aware, and they prefer less volatility and more certainty of achieving their goals to taking big bets that may or may not be accompanied by greater investment returns.

That, to me, is sound financial planning. And women, in my opinion, are perfectly capable of that.

 

Kristal:

From the people you know – what has been the worst and the best financial advice you have been given?

Ferzin:

 

Worst – Spend and god will send – unfortunately God believes in helping only those who help themselves.

Best – Being ‘independent‘ also means ‘NOT being financially dependent‘. Understand the importance of having a financial plan for the short and long term.

 

Kristal:

Women are known for their ‘nurture instinct’, and the ability to create and grow. Have you ever felt this instinct kick in in your career/or money-related matters? How do you think women can use this better to create a financially stable life?

Ferzin:

I always joke around that Canvas & Weaves is my third child; my labour of love, born out of pure passion. The early days were confusing, exhausting and full of highs and lows. In all honesty, not much has changed in that department. But today I am much more confident and driven than ever before.

In this fast paced social media and smartphone era where everything quickly accelerates and then disappears, I have made a conscious choice to pace my growth and marvel at the process rather than focus on just the outcome.

My ultimate goal for all my babies (work and family 😁) is to make them independent and self sustainable. And if I extend this to my financial assets, I would want them to grow steadily, over a period of time.

 

Kristal:

What do you think needs to change in the current financial services industry for women to feel more included, and comfortable with making choices?

Ferzin:

I have worked for a finance giant in the past, so I know the lingo can be jarring.

I didn’t see a separate offering for women on Kristal. And I feel this is good. Institutions need to change their approach. The priority is to address the needs of individuals or families and not get trapped in gender stereotypes or create segments. To borrow from Oliver Wyman, avoid ‘pinkification’ of offerings.

 

Kristal:

And just for cheese, what are the three things you would tell your younger self about wealth management. Maybe preach against piling credit card bills? 🙂

Ferzin:

There is more to financial planning than fixed deposits and real estate. A little bit of risk, like spices, is good. It enhances the flavor!

Disclaimer

The materials and data contained herein are for information only and shall in no event be construed as an offer to purchase or sell or the solicitation of an offer to purchase or sell any securities in any jurisdiction. Kristal Advisors does not make any representation, undertaking, warranty or guarantee as to the update, completeness, correctness, reliability or accuracy of the materials and data herein. All opinions, forecasts or estimation expressed herein are subject to change without prior notice. Kristal Advisors and its affiliates accept no liability or responsibility whatsoever for any direct or consequential loss and/or damages arising out of or in relation to any use of opinions, forecasts, materials and data contained herein or otherwise arising in connection therewith.

Post tagged under

Personal Finance Women's Day

Other stories you might like

cross
Change your country to India?

You’re now visiting Kristal.AI Worldwide.
To explore diverse offerings in Indian and global products, select India as your country.

ind

India

hkg

Hong Kong

sgp

Singapore

global

Other
Accredited Investor Declaration

This is offered only to Accredited and Institutional Investors as defined under the Securities and Futures Act, Chapter 289 of Singapore (“Act”), which broadly comprises of regulated financial Institutions, large corporates, high net worth individuals and sophisticated investors.

An Accredited Investor is an individual
  • Whose net personal assets exceed in value SGD 2 million (or it’s equivalent in a foreign currency) with value of his/her primary residence capped at SGD 1 million, or
  • Whose financial assets (net of any related liabilities) exceed in value SGD 1 million (or it’s equivalent in a foreign currency), or
  • Whose income in the preceding 12 months is not less than SGD 300,000 (or it’s equivalent in a foreign currency)

I agree to opt-in as Accredited Investor and will submit required documentation to confirm the same.

< Back Proceed as Private Wealth

Wealth Management Solutions
Accredited Investor Declaration

This is offered only to Accredited and Institutional Investors as defined under the Securities and Futures Act, Chapter 289 of Singapore (“Act”), which broadly comprises of regulated financial Institutions, large corporates, high net worth individuals and sophisticated investors.

An Accredited Investor is an individual
  • Whose net personal assets exceed in value SGD 2 million (or it’s equivalent in a foreign currency) with value of his/her primary residence capped at SGD 1 million, or
  • Whose financial assets (net of any related liabilities) exceed in value SGD 1 million (or it’s equivalent in a foreign currency), or
  • Whose income in the preceding 12 months is not less than SGD 300,000 (or it’s equivalent in a foreign currency)

I agree to opt-in as Accredited Investor and will submit required documentation to confirm the same.

Proceed as Private Wealth

STOCKS

Seamless investing enabled by easy and instant access to a wide range of cross border stocks of acclaimed and high potential companies, handpicked by our expert investment committee.

For investors who desire enhanced returns while co-owning shares of global companies.

*The range of stocks will be made accessible, post login

OVERVIEW

Only the best

A range top performing and high potential stocks carefully selected by our seasoned investment committee

Instant Access

Wide range of global stocks made easily accessible with a single click

Diversity

Companies from varied sectors and fields made available for investment enabling clients to diversify investments and effectively mitigate risks

Innovative

High potential companies leading with disruptive technologies made available to clients enabling them to future proof their investments

THEMATIC STRATEGIES

Enabling clients to invest in trending themes like FAMANGThe FAMANG Kristal invests in Facebook, Apple, Amazon, Netflix and Alphabet’s Google stocks. Assets are carefully chosen by an algorithm in order to deliver a superior returns based on past performance. The strategy is rebalanced every quarter., TECHGlobal Technology ETFs is a genetic algorithmic strategy focussed specifically on the Technology sector., ESGProvides exposure to higher rated environmental, social, and governance (ESG) companies while accessing large- and mid-cap stocks in Europe, Australia, Asia and the Far East., etc. with a single click or just create your own thematic basket.

Future-proof your portfolio and capture emerging investment themes.

*The range of Thematic Strategies will be made accessible, post login

OVERVIEW

Explore and Identify

Select from a range of expertly designed trending and diverse themes

Efficient Execution

Enabling easy exposure to your preferred themes without the hassle and costs of individual security selection and execution

Only the Best

A ready-made collection of Kristals that derive the best of the specific asset class or theme

Unique Mix

An optimised blend of ETFs and individual counters, enhancing efficiency and profitability

Contact our Relationship Manager
ALTERNATIVE INVESTMENTS

Diversify your portfolio with exclusive Private Equity, Pre-IPO deals, VC Funds & other investments like Bitcoin, Gold, Hedge Funds and many more.

Kristal fractionalizes difficult-to-access deals and opportunities.

View Alternative Investments

OVERVIEW

Instant Access

A wide range of alternative asset classes such as Gold, Bitcoins, Hedge Funds and many more; readily made available

Risk Management

Enables investments in diversified assets hence spreading the risk

Easy Tracking

Enables you to get a consolidated view of investments in all assets at one place, hence facilitating easy monitoring and tracking

Exclusive Deals

Access to exclusive Venture Capitalist, Startup as well as pre-IPO investment opportunities

Low Investment Tickets

Facilitates fractionalization of investments in deals

Contact our Relationship Manager
FUNDS PLATFORM

Professionally managed funds with active investment strategies, screened for you by our investment committee to diversify your portfolio.

Enabling clients to access exclusive investment strategies.

View Funds

View Funds

OVERVIEW

Access

Provides Access to Professional Fund Managers

Low Investment Tickets

Facilitates fractionalization of investments in funds

Diversity

A wide spectrum of investment strategies ranging from Arbitrage to Credit to Hedge Funds and many more

Fees

No additional costs are charged by Kristal.AI

Exceptional Performance

Funds with an impressive track record and potential for high profitability

Leverage

Benefits from insights of the expert selection and advisory team

Easy Management

No time consuming management of portfolios

Contact our Relationship Manager
TAILOR-MADE PRODUCTS

Customize products based on your market outlook and specific needs across equities, bonds, gold and more.

For investors looking to enhance portfolio yield based on market views.

*The range of Tailor Made Products will be made accessible, post login

OVERVIEW

Enhanced Earnings

Structures with potential to enhance portfolio yield based on market movements

Customization

Product features can be designed to articulate investor views

Fees

A flat and transparent fee structure like nowhere else

One-Click Access

A single feature ‘Ideas’ enables you to access recently launched and trending market opportunities

Contact our Relationship Manager
BUILD YOUR OWN KRISTAL

Can’t find what you are looking for? Create your own exclusive investment strategy with risk management & periodic reporting.

For seasoned investors who prefer to design their own portfolio.

OVERVIEW

Empowered Investing

Enables clients to create their own custom portfolio based on their unique needs

Unlimited Choice

Access to all possible exchange traded assets

Flexible Management

Flexibility in delegating the portfolio management role to us or actively taking up the day to day investment decisions, in your custom Kristal

Custom Fee Structure

A simple, transparent and a customized fee structure

Access to Expertise

Custom performance reporting as well as advisory support

Contact our Relationship Manager