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Tarraki Corner Meet Amravati-based MF distributor who activated 500 equity SIPs in a single day

Meet Amravati-based MF distributor who activated 500 equity SIPs in a single day

The average ticket size of SIP is Rs.2,500 per month per folio with a minimum time horizon of five years.
Nishant Patnaik Sep 25, 2017

Setting an example of ‘Plan Big and Think Bold’, Amravati-based Mahesh Gattani of Balaji Investments has initiated 500 SIPs on behalf of his clients in equity funds in a single day.  The average ticket size of these SIPs is Rs.2,500 per month per folio with a minimum time horizon of five years.

The idea of SIP day came to Mahesh’s mind last year when he attended Cafemutual Confluence 2016 (CC16). However, he did not have a concrete plan on how to go about it.

Gattani has been using NSE NMF II platform to digitalize his business for over one and a half years. One day while initiating an SIP for his client, he realized that the turnaround time to execute a transaction through the platform is so less. It took him a minute to complete this transaction. This was the ‘eureka moment’ for him.

Gattani made up his mind to conduct an SIP day by using the digital platform. As part of the plan, Gattani and his colleague Roshan approached existing clients to start SIPs. “We spoke to 175 clients. We discussed the progress of their portfolio and advised them to top up their investments in equity funds through SIPs. We told them that the markets are at all-time high and they should not invest lumpsum in equity funds. At the end of this exercise, almost 156 clients agreed to start SIPs. "However, we had to follow up with them for at least three times over phone. On an average, these clients started three SIPs in equity funds with a ticket size of Rs.2500 per month per folio with time horizon between five and ten years,” said Gattani.

Mahesh decided to hold SIP day on September 23, 2017 due to it being a non-working day i.e. Saturday. Sharing the rationale for choosing a Saturday, he said, “Most of my clients are free on Saturday. Also, we will have an additional day i.e. Sunday to get their confirmation.”

Both Gattani and Roshan started the day at 5 am to initiate SIP on behalf their clients. 9 am onwards, they started calling up their clients to get the confirmation of transaction. At around 6 pm, they achieved a milestone number of 500 SIPs.

In an email sent to Cafemutual, Gattani shared, “We are happy to get an overwhelming response from clients on SIP day and support from NSE NMF II officials. We came to our office early morning and started processing the application. We kept on following up with clients to confirm the SIP transaction by clicking on the link sent on their email/SMS.”

Mahesh ascribes the success of SIP day to the use of digital platform. “I always talk about the benefits of using digital technology in distribution business. I hope this achievement will boost the confidence of my fellow distributors,” he said.

35 Comments
Sunil · 2 months ago
Hearty congrats mahesh bhai!You have created history,I am sure you will create many more records as you have got the vision, mission and enthusiasm to create such records,all the best!
Sunil · 2 months ago
Hearty congrats mahesh bhai!You have created history,I am sure you will create many more records as you have got the vision, mission and enthusiasm to create such records,all the best!
Rajesh Sharma · 2 months ago
Congratulations Sirji ... It's a landmark & path showing effort to be follow ... Thanks for motivation every time ... Congratulations
Milind khasnis · 2 months ago
Great achievements Maheshbhai it's simply unbelievable to achieve such a big landmark of 500+Sips in a day that too with the average of Rs2500/-per sip. Thanks to Cafe Mutual for inspiring him at Cafe Mutual Confluence Mumbai. Salute to you all.
Milind khasnis
Nagpur
PRAJWAL M PATEL · 2 months ago
Many Congratulations....
great job, its a motivating job..
Keep going.. all the best..
Harsh Bangad · 2 months ago
Dear Mahesh Ji, Heartiest congratulate on your big sale day. Let SEBI and other regulator understand how Distributors are working for Investor and economy.
Majeti Pardha Saradhi · 2 months ago
Congratulations Sir. Good Sign Turn Mutual Funds Investments This Area. Good Hard work Done. Keep It Up.
Rakesh jain · 2 months ago
Dear maheshji gr8 achievement and motivation for small ita like me those r not using digital platform
Ravi valsangkar · 2 months ago
Good luck for next 500 sip
Shabbir rangwala · 2 months ago
Heartiest congratulations Mahesh. It is a stupendous job but done immaculately by Mahesh.
rina maheshwari · 2 months ago
congratualtion sir.
congratulation n keep it up · 2 months ago
Congratulation N Keep It Up
nikhil Karkare · 2 months ago
Congratulations Mahesh bhai !
maninder chadha · 2 months ago
simply amazing . a record in itself . congratulations my dear
Arvind Pamnani · 2 months ago
Amazing.. congratulations my dear
dreaming tomorrow · 2 months ago
WOW!!!!!! I am speachless. No words..heartiest Congratulations!!!!!
tejaswini parandekar · 2 months ago
kudos to you sir......
yogita · 2 months ago
congratulations
Suresh Kumar Kakani · 2 months ago
Congratulations Mahesh
AMARSINGH RAJPUT · 2 months ago
Hi Maheshji and Roshanji Great vision,effort and planning,good use of techenology.Also great motivation for all of us,Congratulations to both of you and God bless you all.Also thanks to Cafemutual for encouraging IFAs.
muniraj singh · 2 months ago
congrats Mahesh for your work and moyivating us to work hard to achieve our goals.
Dhoot vinay · 2 months ago
Congratulations Gattaniji
Superb & unbelievable
Jaykant Umarshi Dand · 2 months ago
Heartiest congratulations to Maheshji for setting a land mark. He is always a role model for IFA's like us
geeta krishna · 2 months ago
Mahesh and Roshan hearty contrats to you. Please keep up your good work.fantastic acheivemet
Sharwan Kumar B Didwaniya · 2 months ago
Heartly Congratulation, big achievement. Well done friends
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