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MFDs utilize various ways to acquire new clients. Let's hear from Chokkalingam Palaniappan, Nafees Ahmed and Ram Gaikwad sharing their experience in acquiring new clients.
MFD Chokkalingam Palaniappan, Prakala Wealth, Chennai
To begin with, they can reach out to family, friends and relatives, persuading them to invest and seeking referrals.
MFDs can host IAPs in corporates to educate employees on mutual funds and personal finance.
Additionally, MFDs can also build a brand by writing articles frequently in newspapers and digital platforms about finance, sharing videos on YouTube and social media to spread awareness about mutual funds.
Depending on their success rate, MFDs should find their own segment. Some MFDs may find it comfortable to deal with HNIs investors, some with retail clients and others with high-salaried investors.
MFD Nafees Ahmed, Patna
I actively seek out new connections and clients by conducting investment awareness programs (IAPs) in different towns and cities. I prefer to conduct IAPs in offices of start-up firms and universities rather than conducting IAPs in hotels. This has helped in successful client acquisition and establishing a solid base for my business.
Additionally, client referrals serve as a significant source of new clients, a testament to my service quality. I obtain clients through Google reviews by requesting feedback based on the services I provide. The majority of my clients have given positive ratings, catching the attention of several interested investors. These investors have approached me directly and become my clients.
MFD Ram Gaikwad, Pune
I engage with corporates to acquire connections with new clients. I also educate my existing clients about financial opportunities which they share with friends, family and relatives leading to new client acquisition.
At key life events, such as marriage or birth of a child, I advise my clients to invest in a secure future for their loved ones. I also advise to begin investment in a child's name once they reach the age of majority.
