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For the past four years, Jalandhar MFD Maninder Singh Chadha has been conducting ‘top-up’ SIP drives for his existing clients. This year too, he conducted his SIP drive focussed on beating inflation. Let us look at his story in his own words:
- Objective and theme
At the start of every financial year, I encourage my clients to increase their SIP amount by at least 10% to fight against inflation and achieve financial goals faster.
This time, I themed this top up SIP drive as ‘Inflation-beat dose’. The message was - Just like a vaccination dose that boosts our immune system to fight covid-19 better, a SIP top-up helps to fight inflation in our wealth creation journey.
- Execution
We reviewed investment portfolio of my existing clients to see if it is in line with their financial goals. We shortlisted investment portfolios where we see mismatch between corpus accumulated and corpus needed.
Next, we allocated responsibility equally among team members. The team then approached all shortlisted clients and discussed the benefits of increasing SIP amount to beat inflation. I personally spoke to clients who had specific queries related to their investment portfolio and SIP drive.
We usually suggest our clients to increase their monthly contribution by at least 10%.
- Outcome
Overall, 60 investors participated in this drive. They booked 90 SIPs close to Rs. 3.25 lakh.
- Post-drive celebration
The drive’s success was an outcome of solid teamwork. We celebrated our accomplishment through a cake cutting ceremony and a hearty team lunch in a nearby restaurant. Additionally, we also felicitated the top performing member with a small token of appreciation.
Maninder’s drive brings out the importance of planning and teamwork. Additionally, it also highlights how MFDs can appreciate their team to boost their morale further.
Isn’t this an interesting drive story? Do you also have a similar story to share with your peers and inspire them too? Write to us at newsdesk@cafemutual.com and stand a chance to feature on Cafemutual’s website.
