My first client was my father in law's brother who had approached me directly without consulting my father in law. He had never invested in mutual funds till then. When I tried to explain the concept of mutual funds, he just said he trusted me and handed me a cheque without understanding the details.
I had recommended an equity fund to him. He continues to invest through me even now.
After some time, I asked him what convinced him to invest through me and that too in an instrument which he did not know very well. He said, “My hair has not turned grey playing in the sun, but with experience. I can judge a person by his actions, and felt that you would not be reckless with my money".
Then I asked him whether being related was the factor that swayed his decision, his reply was that he was a businessman and did not make decisions based on emotions.
After hearing this I realised that trust is an important factor and building trust is the basic ingredient for business. Another thing which I realised was that people first trust the advisor and then the product.
Shifali Satsangee and her husband Sahib of Funds Ve’daa converted Sahib’s existing HNI clientele availing accountancy services to mutual funds.
My husband, Sahib, a chartered accountant, had been providing accounting and legal services through his firm since 1990. In 2002, while contemplating diversification, we realized that there was a dearth of professional and management expertise in the field of investment advisory and portfolio management services. After foreseeing the need and the lacunae in this domain, we decided to completely focus our energies on one investment avenue - mutual funds. And hence Funds Ve’daa was born.
Instead of looking for new markets, we decided that it would be logical for us to start by catering to the existing clientele, who were HNIs, and later broaden the ambit by venturing into unfamiliar territories.
We decided to focus on one group amongst Sahib’s clients, which was channelizing their funds only into RBI Bonds at that time and had absolutely no clue about other investments. And since then there has been no looking back. We are filled with a sense of both contentment and gratitude that this group is still with us and has been bringing in new clients through their referrals.
Over the years, we have realized that being customer-centric (by aligning ourselves to customer requirements) and not product-centric has worked to our advantage. And that, the “Marketing” approach has stood us in good stead than the “Selling “approach.
We also believe in the power of smart work as much as we believe in hard work.
We also realized the importance of “Adhyyan, Seva, Vyaayaam”. Adhyyan - with knowledge comes wisdom and with wisdom comes growth. Seva- unparalleled levels of service contribute to growth. Vyaayaam- sound mind in a healthy body is the mantra. If you are unable to remain fit, you won’t do justice to service your clients.
We also have the conviction that the only constant in the world is change. And the only mode of survival is adapting oneself to these changes. One has to be agile and adaptable to survive in any industry.