This is the second article in WSR’s “Extraordinary Stories” series, which relates the extraordinary stories of the lives of advisors and other industry professionals to provide inspiration and vision for people in our industry.
For this installment, we caught up with Srikanth Narayan, Founder and CEO of Cache, who immigrated from India and taught himself finance and economics as he switched from engineering to wealthtech entrepreneurship.
We asked him about his experiences and challenges as an immigrant to the U.S., how he decided to switch careers and how he taught himself new subjects to make that transition. He gives advice for those who face challenges in implementing an entrepreneurial vision.
WSR: How has your experience been as an immigrant to the U.S.? What challenges did you face? How did you overcome them?
Narayan: My immigrant story is a fortunate one. Coming to the U.S. was a major turning point in my life. I moved here for graduate studies at the University of California, Berkeley, on a scholarship. The quality of education was unlike anything I’d experienced. It expanded my thinking and opened new doors. I had the freedom to explore a wide range of interests across design, computer science and social psychology, which ultimately led me to specialize in data visualization and work on cutting-edge problems at companies like Uber and Waymo.
I’d always dreamed of being an entrepreneur, and played a key role at a startup early in my career. But the immigration system didn’t allow me to start one. Eventually, I applied to a new program, the International Entrepreneur Rule, which enabled immigrants to start companies in the United States.
WSR: How did you arrive at the decision to leave engineering for wealth management? How was that transition?
Narayan: Before starting Cache, my background was in engineering and product leadership, primarily at companies working to make transportation more efficient through software. Now, I build software for financial products. I’m still focused on solving deep inefficiencies with well-designed software. We’re simply applying product thinking and engineering discipline to a domain that desperately needed modern tools.
The transition wasn’t a leap so much as a steep learning curve.
I jumped on the idea for Cache, among many others I was considering, some of which were much closer to my previous experience. Yet, this idea was the one I had the most conviction about. The transition wasn’t a leap so much as a steep learning curve. I had to immerse myself in a new industry and get fluent in its language. It’s rare to find a problem where software hasn’t already made an impact, and when I found one hiding in plain sight, I knew it was a huge opportunity.
WSR: You taught yourself finance and economics. How were you able to accomplish this?
Narayan: I’ve always been drawn to complex systems, whether it is internet phenomena, urban environments or financial markets. Markets are an intricate system of incentives and feedback loops, and I find them endlessly fascinating. I enjoy understanding how they work, what makes them tick and how to simplify comprehension through effective design. That’s what led me to data visualization, and I spent over a decade building software that helped users understand complex systems.
With Cache, it is in a similar vein to making complex financial instruments easier to understand and use, ultimately making them more accessible. I didn’t study finance formally, but I’ve always been curious and self-directed. The internet makes self-education more accessible than ever. All it takes is a curious and persistent mindset.
WSR: What advice do you have for people who have a professional vision and face an uphill climb to achieve it?
Narayan: Start. You don’t need to have everything figured out. I launched Cache as soon as the biggest question marks were answered. There were still a lot of unknowns, and I was entering an industry I hadn’t worked in, but I moved forward with conviction, knowing that the rest were solvable problems.
Today, I lead an interdisciplinary team that includes finance professionals from Goldman, Principal and Wealthfront. The key is to learn relentlessly. Ask questions. Read voraciously. Seek out people who’ve been there. Don’t be afraid to challenge the way things are done. As an outsider, your lack of industry baggage can be an asset. That fresh perspective can take you further than you think.
As an outsider, your lack of industry baggage can be an asset.
The path may look daunting. Take one step at a time, and before you know it, you’re somewhere you once thought was out of reach.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
