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Rajesh Bhutra, Ambition Finserve, Beawar, Rajasthan has recently crossed the AUM milestone of Rs.1000 crore across mutual funds, PMS, corporate bonds and AIFs.
Rajesh started his journey as an MFD in 2012. Here are a few things that helped Rajesh achieve this milestone:
Focus on salaried individuals
Since the beginning, Rajesh focused on salaried professionals as they can follow disciplined investment by investing every month and staying invested for the long term. He also believes that MFDs have better visibility of business growth if they work with salaried individuals.
The MFD acquired the first few clients from Shree Cement. He conducted an investor education seminar for the employees of the company.
Subsequently, he targeted employees of IT and pharmaceutical sectors as they are well paid compared to other salaried individuals. He conducted knowledge sessions at their offices approaching the human resource officers of such companies. He travelled extensively to deliver these sessions.
In these sessions, he took them through the benefits of long-term investing and power of compounding in mutual funds. He also taught them about identifying financial goals like children education before starting SIP in mutual funds.
Rajesh has created a client base of over 3000 salaried individuals through investment education seminars. Even today, he conducts these seminars on a regular basis.
Invest in business
As his client base grew, Rajesh expanded his team to offer different services like tax filing, He also set up a help desk to resolve day to day queries of his clients and added other products like PMS, AIF and corporate bonds to his offerings.
The MFD has also appointed relationship managers to service his clients. These relationship managers stay in constant touch with clients to strengthen their relationship with them and command better wallet share.
Create long term investors
One activity that yielded good results for Rajesh is focussing on creating long term investors.
Rajesh takes his clients through the impact of inflation on key financial goals like children’s education, children's wedding and retirement. He then makes them understand how disciplined approach through SIPs can help them overcome challenges related to long term financial goals.
Rajesh told Cafemutual that through this approach of long-term investing, a few of his retail clients graduated to premium products like AIFs and PMS.
Thanks to these activities, Rajesh has built AUM of Rs.600 crore in mutual funds, Rs.200 crore each in PMS and corporate bonds and Rs.25 crore in AIFs.
Sharing his learnings with MFDs, Rajesh said, “My advice to MFDs is that they should always remember that there are no shortcuts to success. Similar to what we advise clients to think long term, MFDs should also focus on long term business success and avoid short term noises.”
