Alagappan was felicitated with the MFRT Samman for promoting the cause of SIPs.
Alagappan Thenappan, a Chennai based IFA, has a unique success mantra called ‘five SIPs a day.’ Whether it is a Sunday or a festival he works 24*7 to achieve his target. His passion for mutual fund distribution makes him travel long distance even for SIPs of Rs 500. He believes that his bag is his office and client’s desk is his work place.
With an over 10,000 SIP book, Alagappan has sensed a huge opportunity in India, thanks to the growing population. Initially, his aim was to acquire three clients a day but later he increased it to 5 clients a day. He meets 25 to 30 people every day.He says, “An average Indian encounters 25 to 30 people in a day. Whether you travel by train or bus, goes to office for work or hang outs with friends at bar or hotel, you would see 25-30 new faces. And I believe in targeting these new people.”
Moreover, if Alagappan fails to achieve his target any day, he doubles his next day effort to make up for the previous day. His major challenge is to maintain this momentum.
Alagappan believes in the power of SIP. He says,” It is difficult to invest a huge corpus in one go for many people. SIP helps them to achieve their goal by investing their small savings.”
Alagappan started his career as a software engineer with a multinational company in Chennai in 1993. However, he lost his job due to the 9/11 attack. During that time, his mutual fund investments rescued him. He then made his mind to evangelize the cause of mutual funds to people. He took up mutual fund distribution in 2005. Very soon, he had built a good rapport with clients. Now, he has clients from all sections of society.
Alagappan says, “Every Indian middle class person has a dream of having a bank balance of Rs 1 crore. Hence, my aim is to help atleast 100 clients to acquire Rs 1 crore when they attain retirement.”
Alagappan dedicates his success to his mentor Vijaya Raghavan.
