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Hailing from a small village Haripur Padal in Kathua district near Jammu, MFD Ravi Kumar started his distribution journey in 2016. Today, he has built a monthly SIP book of Rs. 1 crore with over 1500 retail investors.
Currently, he manages AUM of Rs.83 crore in mutual funds and Rs.95 crore across all financial products including PMS and AIFs.
Ravi caters to army officials, local businessmen and government employees.
The MFD said that the majority of his clients were into traditional investments like FDs and RDs before mutual funds. Overtime, many of his clients who started investing in mutual funds through SIPs saw their money multiplying thus helping them achieve financial goals. This resulted in Ravi gaining the trust of his clients and earning referrals.
Overall, Ravi attributes this achievement to a few activities:
Knowledge sessions
Ravi began his distribution journey by doing knowledge sessions for army officials. With time, he also started spreading awareness about mutual funds among local businessmen and conducted regular IAPs in local schools, colleges and government offices.
In his knowledge sessions, he encourages participants to invest in mutual funds through small ticket SIPs . In each session, he converts at least 6-7 prospects into clients through regular follow ups.
Keep moving
Ravi believes that MFDs should not sit in offices and wait for clients to come to them. Instead, they should move out of their comfort zone and meet 5-7 people daily to acquire new clients and increase wallet share of existing clients.
Ravi spends most of his day interacting with his prospects and existing clients. In these meetings, he talks about benefits of SIPs in achieving financial goals.
Update yourself and your clients
Ravi keeps himself updated with the latest news and knowledge related to mutual funds and current affairs. He says that clients may not appreciate it if you always talk to them about mutual funds. Hence, he discusses current affairs with them to break the ice and strengthen his relationship.
Ravi also subtly connects these events with the world of investments to make SIP more interesting for investors.
Making his clients a brand ambassador
Ravi insists on all his existing clients who have achieved financial goals through SIPs to share their success stories with others. In fact, he invites a few of them to his knowledge sessions to give more confidence to investors about the benefits of SIPs.
