We continue with some more
interesting stories in our series ‘How I got my First Client’
I entered the mutual fund distribution space in the year 2002 when one of
my friends introduced me to Franklin Templeton as I had just cleared the AMFI
test. But I did not understand the product so well so I avoided selling it even
though I had empanelled with the AMC.
In the year 2004, an official Ms Sujata Ramchandran from the AMC visited my
office and made me understand the potential of mutual funds. She also promised
to make joint calls on clients. This boosted my confidence and I identified my
first prospect, a doctor who had an in depth knowledge about financial markets.
We visited the doctor and explained to him the benefits of SIP. In the
first meeting itself, he was convinced about SIP and was ready to invest Rs
15,000 per month. I suggested him to
distribute his investment in three large cap funds and he accepted my
suggestion and divided the investments in Franklin Templeton and HDFC funds.
The doctor gave me an appointment of 10.30 pm after his chamber hours for
form filling and cheque collection. As it was my first such session, I was a
little tense. We started filling up the form at 11pm and I continuously was in
touch with Sujata during the processing of form filling.
As it was my first client, I didn't want to make any mistake. I was
continuously on line with Sujata to check whether we are on the right track. By
the time I left his home, it was already 12.15 a.m.
The biggest lesson I learnt from this was that your client's timings and
convenience is far more important if you want to grow your business. So, even
today my Saturdays and Sundays are the busy days of my schedule.
My neighbor was my first client, says Bhavik Udeshi, IFA based out of
Usually a distributor's first client is a family member or friend. But in my
case it was my neighbor.
I had just got my license for insurance distribution and had empanelled
with LIC. Since I started my operations from home, I had framed my certificate
and license at home.
It so happened that a neighbor was blessed with a baby boy at the age of 42
and came to our place to give us a pack of sweets. He noticed my license and
asked me to recommend a good insurance plan for their new baby.
I was very excited to get this opportunity and studied all LIC plans. I
suggested the family a child policy which had an assured returns with the
clause of premium waiver benefit, as the age of the parents was on the higher
side. My neighbors were impressed with
my knowledge and suggestion. I had to conduct a couple of more meetings with
the client to explain the nitty-gritty of the product.