Nisreen’s first client was a diamond merchant who invested Rs 10 lakh in a diversified equity fund.
Nisreen Mamaji of Moneyworks Financial Advisors: My first client was a diamond merchant and jeweler who had been investing in bank FDs. I approached him in 2002 to invest in a diversified equity fund so as to diversify his portfolio. He called me for several meetings to understand the factsheet and I realized later, to verify my knowledge of the mutual fund industry. He was a very astute businessman but I managed to earn his trust and he invested Rs 10 lakh in ICICI Prudential Power fund (now known as ICICI Prudential Top 200). In fact so impressed was he with my skills, he offered me a good position in his organization.
Over the years he has invested in mutual funds but has also expanded his business into many other spheres. We share a relationship of mutual respect and I socially interact with his wife as well.
Since he was my first client I often look back at this relationship very fondly and my learning from this initial interaction can never be forgotten. The most important facet of his personality was that he had a clear idea of his expectation of returns and redeemed his investments without succumbing to greed for higher returns. I believe that due to this he has achieved many successes in his business as well. His quest to learn about the mutual funds industry forced me to read, gather more information and articulate my newfound bookish knowledge. The RM, to whom I was mapped with in ICICI Prudential AMC, taught me the intricacies of the industry, operations and sales skills and I am indebted to him for his unflinching support and goodwill. Rejection on the sales field can only make one tougher, but I am happy that my first prospect became my client since this gave me the fortitude to believe in myself.
Sujata’s first client was a family member who invested in ELSS
Sujata Kabraji: In my case, I was a director in a stock broking firm for 8 years where I dealt with over 600 clients and ran an office of 40 odd people before moving to the UK for a few years. When I started off on my own, a few of my old clients found out and approached me. I have been very selective in choosing my clients from the beginning. However, my stint in financial advisory started off with my own family members as they were my first clients. They were extremely encouraging of my entrepreneurial venture. The initial investments were in ELSS schemes as I started off in March. Then through word of mouth and referrals, the base grew.
