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Tarraki Corner How IAPs helped Mukesh to grow 5 times in 3 years

How IAPs helped Mukesh to grow 5 times in 3 years

Darshita Shah Nov 10, 2016

Meet Mukesh Patel from Anand, Gujarat who is an engineer by qualification and advisor by choice.

Anand, Gujarat is known as the ‘milk’ capital of India is now the home base of Mukesh Patel, also known as the SIP king. “I only want to create value to my clients portfolio; and SIP is the best route to achieve it”, he says.

Background

Mukesh was born and brought up in Sojitra, a taluka in Gujarat. After completing his schooling, he moved to Bhavnagar in 1997 where he graduated as a mechanical and automobile engineer. Immediately after his graduation, he landed a job in Ahmedabad as a marketing executive for engineering products. In this job, he was exposed to real life marketing and sales situations. In 2000 he shifted to Anand to be near his family. Here, he got an opportunity to work as a craft instructor in a college.

Part time advisor

One of his friends who was an LIC agent, suggested him to set up an LIC agency. Mukesh was a little reluctant so initially, he free lanced and sold the policies. Getting a good response from the investors, he finally started an LIC agency in 2004. Gradually he started realizing that people have different financial needs. Everyone has different risk appetite and LIC could not fulfill it. He says, “There was a gap that I needed to fill in terms of investment needs. Life Insurance covers the life long term protection need but then what about the other goals?”

Mukesh started attending seminars, read magazines and gathered as much information as possible.  He realized after a thorough research and evaluation of mutual funds that mutual funds were ideally suited to fill these gaps of wealth creation and goal attainment. To get a first-hand experience, he invested in a few also. During this course he completed the AMFI mutual fund exam. Impressed by the returns he forayed into mutual funds in 2008. He sensed a good opportunity the following year due to the market crash. “People lost their faith in markets; I took this as challenge and sensed an opportunity”, he says.

Investor awareness

He conducts IAPs for people from various backgrounds such as rickshaw drivers, agricultural laborers, businessmen, professors. Mukesh suggests his clients to invest through SIP route. “It is the best tool for the wealth creation”, he says. In order to spread the message in remote areas, Mukesh personally visits and educates them. “A majority of my clientele is from rural area. People are ready to park money in different avenues; it is just that a different approach is required”, he says. He has even come out with a few slogans like “SIP banao, Life Banao” in Gujarati so that people could relate to it. He even circulates handouts in the local newspapers every quarter where he writes about the importance of SIP and regular investing.

In 2010, when on holiday in U.K with family, his NRI relatives approached him for advice on their personal finance.  In the subsequent years, he conducted IAPs abroad with a key message being that they need to follow SIP route.

In 2015, to give his hundred percent to the advisory profession and reach out to people, he resigned as lecturer. Now he conducts 3 IAPs in a month which are personally conducted by him. “Different clients have different needs. Goal based IAPs never go waste”, he says.

Mukesh aims to make his client wealthy. “I don’t ask for fees, I believe if my clients grow then eventually I will also grow”, he says. He has increased his AUM from 11 crore in 2013 to 59 crore in 2016. “IAPs are my biggest weapons. My client conversion rate is more than 75%”, he says. Currently he manages 650 clients out of which 100 are HNIs. 

Future Plans

With his 4-member team, he plans to reach an SIP book of 1 crore by 2017. Further, he plans to expand his business to the cities of Baroda and Nadiad.

A self-motivated man, Mukesh takes no leave and claims that his determination of making each and every client wealthy is what has made him respected and popular in Anand.

21 Comments
Jayur shah - icici Pru pms · 5 months ago
Great going sir with PMS your client will be more whelthy....
chintan · 5 months ago
Very good Mukesh bhai.....Have worked with him from 2008 to 2014...very energetic, committed and dynamic person....
Jaydeep · 5 months ago
Great going Mukeshbhai.
M n patel · 5 months ago
Great exp with mukesh patel. Agrassive Advisor
Raajendra t patel · 5 months ago
Great achivment by my friend .I know him since he started in 2008 to 2016 he from zero to Great Brand Ambassador of mutual fund . Wish you all the best from Rajubhai patel ( Rajan travels) family USA
khushi mukesh patel · 5 months ago
congrats dad , you are very serious for our goals and u choice the write way for your client golas and our goals achieve through mutual fund i am so happy my name famous KHUSHI INSURANCE & INVESTMETN. - khushi ( daughter mukesh patel )
hitesh · 5 months ago
SIP KING OF THE YEAR 2016...GOOD LUCK
Reply
hitesh · 5 months ago
MY TOTAL RETURN R 38% KEEP INVESTING UNDER MUKESH PATEL ADVISE....DO NOT TACK ADVICE FROM OTHER PEOPLE GO TO RIGHT PERSON..ONLY ONE MUKESH PATEL..
Hitesh Sharma · 5 months ago
GREAT SIR YOU STORY MOTIVATES ME. I AM ALSO DO THIS TYPE OF ACTIVITIES.
Pranav parikh · 5 months ago
Congratulations....mukeshbhai. your energy & positive approach always inspires everyone.
ajith · 5 months ago
Sir ,Mukesh Ji , How to contact you any email id please
mukesh patel · 5 months ago
thanks to all & my contact number 9979944844 & email : mukesh3473@gmail.com
Reply
RAJNIKANT PATEL · 5 months ago
since 2008 to today i have very good exp of investment. knowledge guy . 100 % make my wealth. congrats mukeshbhai
CHETAN PATEL · 5 months ago
AVERAGE 5 TIME GROW MY MONEY IN 7 YEAR. KEEP IT UP MUKESHBHAI
Nilesh patel -uK · 5 months ago
mukesh patel 1st advisor i see 2 Client meet in LONDON. i happy my money invest with mukeshbhai. congrats & bet luck and connect with more people
Prakash Sharma · 5 months ago
Hi Mukesh Ji, Can I have your email/contact for more ideas and learning from you.Thanks
My mobile contact 9830118820
Juned Ahmad Siddiqui · 5 months ago
These stories really help us to grow our business
mukesh · 2 months ago
thanks sir . any help form my side call any time 9979944844
Reply
Jigar Parekh · 5 months ago
Mukeshbhai you arr doing an awesom job. I know mukeshbhai since few years, I must say the kind of focus and dedication towards business he is possessing is very rare. Keep inspiring.
Gopalakrishnan · 4 months ago
Dear mukesh u are done great job !
Arvind · 2 months ago
Mind blowing it's something which had been done it's time to go beyond this
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