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Mumbai MFD Nikul Parmar has recently won the prestigious Cafemutual Big League Awards 2023 at Cafemutual Confluence 2023 held recently in Mumbai.
Powered by CAMS, the award aims to recognize the hard work of MFDs who have achieved business milestones. It identified 26 MF champions across five broad categories – SIP, equity inflows, new folios, fintech player and overall business. The award was purely based on quantitative performance during the FY 2022-23.
Nikul has won this award for registering the highest number of new folios in the country during FY 2022-23 in the individual MFD category.
Nikul started his career as an LIC agent and later in the year 2005, he got into mutual fund distribution. Currently, he manages AUM of Rs. 300 crore and caters to 2,500 clients.
Nikul shares with us his three success mantras that have helped him won the award. Let us look at them.
Investment through multiple SIPs/STPs
Nikul recommends his clients to do SIPs to invest in mutual funds. He takes lumpsum money only if his clients commit to stay invested for at least 10 years in equity fund. Else, he recommends them to set up multiple STPs to benefit from rupee cost averaging.
Active relationship with clients
Nikul believes in strengthening relationship with his clients by regularly meeting them. He visits his clients during occasions like birthday, wedding or even when they are not well or admitted to hospital. This has helped Nikul create a strong bond with existing clients, their family and friends. Seeing this commitment, many family members and friends often approach Nikul for investments.
Referral form
Nikul insists his clients to fill up a referral form once they become comfortable with him. He requests them to share at least 5 names who they think require investment support. He also tells his clients that he will only call these people once and if they say they are not interested, he will never approach them. This makes his existing clients comfortable to share referrals.
