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Axis Mutual Fund and Cafemutual announced the much-awaited winner list of the ‘Sanjeevani MFD Awards’ at Cafemutual Ideas Fest 2024 (CIF 24).
The Sanjeevani awards has recognized MFDs/RIAs who became ‘Sanjeevani’ for their clients by hand holding them to not only achieve financial aspirations but also overcome difficult life situations.
Overall, the award received an overwhelming response with over 200 entries. While each response is unique and won the hearts of our jury, our esteemed jury has picked 8 winners across eight categories and 2 MFDs for quality awards after detailed evaluation of all the nominations.
B Gop Kumar, CEO, Axis Mutual Fund and Prem Khatri, Founder & CEO, Cafemutual felicitated the winners with a Letter of Appreciation and a golden trophy.
Let us look at the 10 gems of the MF industry.
Purplepond, Chennai - Sanjeevani Impactful Award for bringing a family back on track in the case of the demise of a breadwinner or by overcoming a debt trap
This is a story of an elderly client who approached S Saravanan of Purplepond. This client has lost his son who was survived by spouse and 2-year-old daughter. The son had lost his life in an industrial accident.
The elderly person was worried about his granddaughter's future and making his daughter in law self-sufficient and financially independent.
Over a period of time, the daughter in law not only became financially independent because of Saravana’s guidance but also, he helped her get remarried. The advisor also accumulated enough corpus for granddaughter's future.
Vatsal Shah and Shaili Shah - Sanjeevani Visionary Award for securing the retirement of an individual.
20 years back, a salaried individual came to Vatsal and Shaili Shah. He wanted to save for his retirement along with other goals.
This was the time, when mutual funds and SIPs were alien concepts for many and convincing a person to invest in market linked products was difficult.
Still the father-daughter duo convinced the client to save for a retirement corpus considering inflation, life expectancy, medical inflation and other costs.
Thanks to their guidance, the client was able to achieve his retirement target seven years before his retirement. He has now taken voluntary retirement to lead a stress-free retired life.
Shailly Seth from Varanasi: Sanjeevani Masterful Award for helping a client overcome a complex financial situation
All love stories end with the wedding of the hero and heroine. But what happens after that? This is a real life story of a rich boy who gets married to the love of his life. However, the parents of the boy disowned him due to the intercaste marriage.
The newly wedded couple had no money and shelter. They first rented out a place and approached Shailly the very next day. Since his wife had invested with Shailly in the past, the couple trusted her acumen to bring them back on track. The couple wanted to buy a house, a car and raise a child.
Shailly then took charge and devised a financial roadmap for this family. Today, just like in Bollywood movies, the couple are living happily ever after.
Rashmi and Ankush Thukral from Thukral Capital, Bhadohi – Sanjeevani Outstanding Asset Allocator Award for helping a client benefit from asset allocation.
Covid claimed many lives and made many families suffer. This is a story of one such family, where the breadwinner and his wife died of covid leaving behind a huge business debt of over Rs.13 crore. They had 4 children - 1 boy and 3 girls.
Thukral family lent a helping hand when the family needed it most and helped the family in business succession. The MFD advised the family not only to repay debt but also to run the business efficiently.
Over the period of time the family cleared debt and accumulated a surplus of close to 4 crore. Their current turnover has now increased to Rs.44 crore per annum.
Degree 212 Investment Services, Pune: Sanjeevani Pathbreaker Award for bringing in more investors from unorganised sectors.
Team Degree 212 Investment Services has found a unique way to bring more investors from the unorganized sector. They insist all their clients to open a SIP account for their driver and househelp. And eventually, after witnessing growth in money, these individuals increase their SIP amount on their own and bring more referrals.
Today, the company caters to many clients from the unorganized sector.
Finomatic Fintech Services, Kolkata: Sanjeevan Real Bharat Award for bringing in more investors from small towns and cities.
Despite operating from a metro city, more than 55% of the clients of Finomatic Fintech Services are from small cities and towns. The company leverages IAPs to acquire new clients. So far, the company has acquired over 15000 new clients from small cities and rural areas of West Bengal, Assam, Bihar, Jharkhand, Odisha, Chhattisgarh and Rajasthan.
Shruti Agarwal and Ankita Singhania of CAGR Funds, Mumbai – Sanjeevani Shakit Award for bringing in more women clients to the MF fold.
There are many reports that say that over 90% of women involve their spouse or father to make financial decisions. Shruti sensed an opportunity and started women dedicated knowledge sessions to make them financially independent.
In these sessions, she guides women on how they can take charge of their finances and become financially independent. She has also curated a dedicated financial education course for women. She works with many women centric organizations and clubs who help her get in touch with working women. Thanks to her persistent efforts, close to 60% of her total clients are women.
Pune Investment and Financial Ambassadors Association (PIFAA): Sanjeevani Community Award for spreading awareness about mutual funds.
To make a greater change, one has to start small just like Pune Investment and Financial Ambassadors Association (PIFAA) did.
PIFAA has taken a lot of initiatives not only for distributors but also for investors. They run a popular IAP conference in Pune called Smart Money. So far, PIFAA has done over 25 Smart Money seminars in Pune benefiting thousands of investors since 2016.
Ashwin Kanuga of Autus Wealth, Pune: Sanjeevani Quality Award for making outstanding contribution in life of investors.
Ashwin is a retirement guru as he focuses on offering retirement solutions. He has helped many individuals achieve dream retirement. He has helped all categories of clients be it salaried, businessmen or wealthy to secure their retirement life.
Nitin Bellara, of Zeus Distribution House, Pune: Sanjeevani Quality Award for making outstanding contribution in the life of investors.
One of Nitin’s HNI clients was diagnosed with cancer and the doctor advised the family that he had less than a year’s time.
Nitin not only stood by the family in times of their need, he ensured a smooth transmission of wealth and business to the client's 23-year-old son.
Even before the client passed away, Nitin ensured that the client made his will. After his death, it took Nitin over 2 years to do the entire transmission of wealth and succession of business.
This indicates that the role of MFD is much more than executing transactions. It is standing behind the client in tough times and ensuring that the family did not have to face any problem related to finance.
