Krushna Finserv LLP, floated by industry’s veteran IFA Sanjay Khatri in 1994 completes 22 years today.
Khatri started with dealing in IPOs and real estate and turned his focus on mutual funds in 1997. Today, his firm has assets under advisory of Rs. 770 crore in mutual funds, largely in equity funds. With more than 10,000 live SIPs, the firm has a client base of 33,000 individual customers who are largely retail.
Krushna Finance has a team of 42 which operates from Vashi, Navi Mumbai.
Acquiring and servicing a large retail client base is an expensive affair and what has helped Khatri is that he kept investing capital in the business during tough times, especially during the 2008 crash and post the entry load ban.
To acquire clients, Khatri adopted a unique strategy. He started sending post cards which urged people to start investing in mutual funds. “Unlike couriers which may not be opened by people, post cards are usually read by those who receive it. So prospects came to know about us and started visiting our office. We still send post cards to our clients,” says Valmiki Khatri, Partner, Krushna Finance LLP.
Talking about the challenges and opportunities in retail business, Valmiki says that acquiring retail clients takes time and the costs involved are also high. However, he says that retail assets are sticky and payoff in the long run.
To grow his business further, Khatri plans to continue what he has been doing so far, which is his focus on retail clients.
Khatri is known for his business acumen and deep understanding of retail business. Currently, he is busy sharing his wisdom on growing retail business with fellow IFAs across the country.