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Nashik MFD Sachin Kharate of Varad Financial Services successfully conducted his seventh consecutive SIP drive recently in which over 250 clients did 370 SIPs amounting to Rs.10 lakh in a single day.
To get more insights on this achievement, Cafemutual got Sachin’s views on what made this drive a success and the secret behind making so many SIPs happen in a day.
Steps to do a successful SIP drive
Reaching out to existing clients: Sachin and his team approached over 750 clients through review meetings and encouraged them to start new SIPs to keep pace with rising inflation and lifestyle changes
Make it an event: Sachin makes sure to set up flowers, lighting, and a welcome board outside his office to make ‘SIP Day’ a big event, something he notes no one else does in Nashik. This creates excitement about the SIP drive.
Continuous education: Sachin has an active Instagram channel with 5,000-6,000 followers where he posts educational videos about investing fundamentals on a daily basis.
His advice to other MFDs
- MFDs should review the investment portfolio of their clients every year. This gives an opportunity to meet clients and encourage them to start new SIPs to keep pace with inflation and dynamic life goals
- MFDs should build a support team. In fact, Sachin believes that every distributor needs a team irrespective of their AUM. He advises to have 3-5 support staff to handle the workload
- MFDs should have a stressbuster hobby to ensure they are able to maintain a balance between work and life. Sachin himself is a trekker
- MFDs should use social media to spread education about mutual funds
