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Amritsar MFD Rasmeet Singh Sethi of Green Hedge Capital and Chandigarh MFD Sandeep Garg each manage monthly SIP flows of over Rs. 1.50 crore. Each of them manage assets of over Rs. 200 crore in mutual funds.
Cafemutual spoke to both MFDs to know what goes behind building monthly SIP book of Rs.1.50 crore. Here is what they have to say:
Rasmeet Singh Sethi
Monthly SIP flows: Rs. 2 crore | AUM: Rs. 200 crore plus
Key ingredients: Regular and targeted educational sessions
Recipe for success: Since the beginning, we focussed on increasing awareness about SIPs in mutual funds through educational sessions. We conduct these sessions at schools for teachers and parents, corporates for employees, business association for self-employed and colleges for fresh graduates and post graduates.
In these sessions, we invite our existing clients who have benefited by investing in mutual funds through SIPs to build trust among our audience. For college students, we use movie clips to make our SIP presentation more interesting for millennials.
Our conversion rate is good thanks to our follow ups. Post each session, we seek meetings with prospective clients to address their queries and concerns.
We meet existing clients quarterly to understand their ever-changing needs and recommend topping up of SIPs to achieve financial goals faster.
Sandeep Garg
Monthly SIP flows: Rs. 1.62 crore | AUM: Rs. 200 crore plus
Key ingredients: Goal-linked SIPs and SIP drives
Recipe for success: I along with my son Bhavesh encourage clients to have a separate SIP for each financial goal. Linking a goal with SIPs creates an emotional connect and clients usually refrain from making untimely withdrawals. In fact, they keenly look at increasing the SIP amounts to reach their goals faster.
Also, having a customised approach has proved to be useful. Let me elaborate on this - we talk about creating monthly inflows post-retirement through SWP where the goal is retirement planning. Clients are then intrigued to know how and when SWP comes to play. Here is where I integrate SIP investing.
Additionally, SIP drives have been instrumental too. We conduct multiple drives annually on festival days like Diwali, Holi, Akshya Tritiya. Investors usually look at starting something new on such auspicious occasions and making a new investment is generally considered to bring good luck.
Lastly, we conduct regular educational sessions to widen our reach and bring new investors to the SIP fold. We also encourage existing clients to attend these sessions along with their friends and family members.
