Sumedh Basani

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Sumedh Basani
Sumedh Basani.PNG
Born (1994-08-03) August 3, 1994 (age 27)
NationalityIndian
CitizenshipUnited States of America and India
Alma materUniversity of Maryland, Cleveland State University
OccupationEntrepreneur and Investor
Years active2017 - present
OrganizationBasani Financial 11th Story Media
Known forBasani Financial
Height5 ft 7 in (170 cm)
TitleCEO, President
Parent(s)
  • Praveena Sabnekar (mother)
Websitewww.sumedhbasani.com

Sumedh Basani (born, August 3rd 1994) is an Indo American entrepreneur and investor based in New Jersey, United States. Basani is a highly acclaimed insurance sales trainer and digital marketer who works with financial agencies to help them grow their businesses.[1] He is the founder of Basani Financial Group and 11th Story Media.

Basani Financial Group is a financial services company that offers over 5,000 unique financial products for clients of all demographics. It provides insurance services such as mortgage protection, term and whole life insurance, health and medicare supplements, annuities, investment products and other financial services. Basani Financial also offer wealth management and private consultancy within the insurance sector. Under Sumedh's leadership in just two years, Basani Financial group has built a massive clientele base, broken production records, and developed an elite collection of financial professionals within the in the United states.

11th Story Media is an advertising agency specializing in content creators, lead generation and branding. Offering a plethora of marketing services 11th Story Media has worked with a diversified clientele, demonstrating a wide understanding of marketing as a whole. Specializing in video production and running ad placement for small-medium sized businesses, 11th Story Media is a promising and modern source for digital marketing.[2]

Sumedh also offers private consultation services where his primary focus is increasing business revenue within an organization. His services offer business coaching, client acquisition, and general business consultancy for qualified clients. He has been known to primarily consult for insurance agencies, financial organizations, investment firms, and large corporations within that operate within private wealth planning.

Sumedh has been featured in several media outlets including The New York Weekly, MSNBC, FOX, CNBC, Yahoo Finance, Forbes, Accesswire and Issue Wire. He was also recognized as a fastest growing NMO for the year 2019. Sumedh is also one of the few insurance producers who have written over 100,000 of insurance premium in 30 days from individual sales.

Early life and education

Sumedh Basani was born in Jefferson Hospital on August 3rd, 1994 in Philadelphia, Pennsylvania. As a child he moved almost immediately overseas and spent time with his grandparents and extended family who raised him. He lived in Hyderabad, India for his early childhood before moving back to America to formally begin his education.

Sumedh attended several schools as a child as his family frequently relocated. He attended Dulaney High School for his high school and was involved in a large amount of extracurriculars during his time here. Sumedh graduated from Dulaney High school where he then went to the University of Maryland for his first year of college in the pre-med program. He later transferred to Cleveland State University where he continued his schooling as a biology major.

Financial Certifications & Business

Basani has completed major lines in insurance, health, and accident in accordance with the state department and his certified in many sales programs as a licensed sales trainer and business consultant. Sumedh offers private financial consulting for many high level clientele including, but not limited to, athletes, celebrities, musicians, fortune 500 CEOs, and high net worth individuals.[3] He has been recognized for his consistent work within private consultancy and investment.

Career

Sumedh worked in a nightclub when he was in college to make ends meet. It is during this period in his life, Sumedh met several influential people who inspired him to take up entrepreneurship as a career choice.

In late 2017, Sumedh started his own insurance firm focusing on life insurance, final expense, healthcare, medicare and investment services. Basani Financial Services, under his leadership has grown to be one of America’s leading insurance firms that operates silently in the back-end of many large Individual Marketing Organizations (IMOS) within the insurance sector. Originally when Sumedh set out to start this business venture, he invested all his life savings to create the company only to quickly find our how confusing and misleading the private insurance sector was. Working with several large organizations he failed to find the transparency and stability that would allow him to grow a strong insurance agency.[4] His focus shifted to the creation of a large corporate umbrella system that ties multiple carriers together and allows insurance organizations and agencies to operate in a seamless fashion. This system is essentially the same platform that is used in Basani Financial Services. The idea behind the foundation of Basani Financial Group is that it is a company made by agents for agents. Using this model allows financial professionals to work closely in a team-based fashion instead of the traditional solo-advisor model. In the span of 2 years, Basani’s extreme production growth attracted large insurance carriers which resulted in multimillion-dollar contracts for the organization.[5] This in turn drew several agencies and independent financial brokers to become part of his organization.

Sumedh constantly updates and revises his back-end system for Basani Financial and continues to develop unique sales models in order to help the agencies increase agent production, client acquisition, and client retention. His work has brought over a total of 20 million in annual production for all the agencies he has worked with with in just the last year. He has also been affiliated with some of the largest insurance organizations including AIG, Mutual of Omaha, Transamerica, Fidelity, and many more. Basani Financial Group is considered to be one of the fastest growing financial service firms within the United States.

Sumedh is also a private investor through his company Basani. He is known to regularly invest into businesses and entrepreneurial ventures as a silent partner for equity arrangements. He is also known to have a multi-million dollar investment portfolio that he takes a semi-active role in managing.

In 2019, Basani started an advertising agency, 11th Story Media that specializes in digital marketing, brand strategy, and overall advertising services. 11th Story Media is a full service marketing organization that offers website development, video production, social media management, ad creation, branding, graphic design and business strategies.

Personal life

Sumedh Basani was born in Philadelphia, Pennsylvania. Sumedh spent time as a child in India with his grandparents and extended family before moving to the United States. He spent time in Philadelphia before moving to New Jersey around the age of 9. At the age of 12 years, Sumedh's father passed away and Sumedh along with his mother moved to Timonium, Maryland in Baltimore County.

The death of Sumedh’s father deeply affected him and changed his entire outlook on the world. His mother and him had to move out of their home and relocated to a smaller apartment in Baltimore County, Maryland. Sumedh realized the importance of being financially prepared and how life can change in a moment. His father’s unexpected death left him and his mother unprepared. Sumedh's attributes his passion and drive for the insurance industry due to this tragic loss as he understands first hand that life can happen at any moment and that families should be prepared for the worst.

Sumedh was raised by a single mother and a close family friend who both worked extensively to provide for him. He is very close to his mother and family and attributes the majority of his success to them. Before his success in business, Sumedh struggled with financial problems and found himself homeless when he moved to Cleveland.[6] Only with the assistance of a few good friends and the financial stability his job at the nightclub provided was he able to recover and regain his place in society.

Working at the local bar provided Sumedh with enough income to pay for his expenses and focus on his education. Through his time working at the nightclub Basani served many athletes, artists, and celebrities, some of which he advises today. In addition to these individuals Sumedh also interacted with businessmen and entrepreneurs, who inspired him to enter the financial industry.

Sumedh keeps his personal life quite private and is known to value the confidentiality of his friends and clients. There is not much direct information available due to the nature of his work. Sumedh is fluent in English, Hindi, Telugu, Urdu and Spanish. He is extremely close with his mother and owns two male rottweilers, Rocky and Giovanni. He is currently single and has no previous marriages/engagements. He currently owns multiple residences in Ohio, New Jersey, Maryland, Texas, and Florida.

In the media

     

References

  1. Penske, Tyler. "Ohio Entrepreneur invests all his savings in starting insurance brokerage, becomes multimillionaire". www.kivodaily.com. Retrieved 2020-07-28.{{cite web}}: CS1 maint: url-status (link)
  2. "Sumedh Basani shows how being a social media influencer and serial entrepreneur is the winning formula". DNA India. Retrieved 18 January 2022.
  3. issuewire. "What it's like to be a millennial CEO in 2020". Upworldnews. Retrieved 2020-07-28.
  4. "Sumedh Basani: The Force Shaping The Insurance Industry". Forbes India. Retrieved 2020-07-28.
  5. Basani, Sumedh. "What it's like to be a millennial CEO in 2020". Issuewire. Retrieved 2020-07-28.
  6. "How Being Homeless Can Make You Millions". finance.yahoo.com. Retrieved 2020-07-28.

External links