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A recent survey conducted by Cafemutual reveals that 46% MFDs believe that competition from direct plan platforms is the major business challenge for MFDs.
720 MFDs participated in this online poll on Cafemutual website.
The survey shows that of the total 720 MFDs, 332 MFDs feel that the competition from direct plan platforms is the most significant obstacle. They said that the growing popularity of direct investment platforms, offering low-cost services, continues to disrupt the traditional distribution model, making it tougher for MFDs to retain and attract clients.
The second major challenge is the difficulty in converting prospects into clients. 38% of the total respondents or 276 MFDs find this as a major business challenge for them.
Finally, high marketing and branding costs is the third major challenge faced by 16% of the respondents or 112 MFDs.
The upcoming Cafemutual Ideas Fest 2025 (CIF 2025), scheduled on March 5 at Sahara Star, Mumbai, will offer actionable solutions to deal with these challenges.
The event will bring together leading MFDs, fund houses, and industry experts to discuss innovative strategies for client acquisition, engagement and business growth.
The Cafemutual Ideas Fest has been a pivotal platform for knowledge-sharing and collaboration in the financial advisory industry. This year, it will focus on addressing the specific issues highlighted by the survey, offering participants insights and tools to navigate the evolving landscape successfully.
To know more, visit this link: https://www.cafemutualevents.com/. Also, you can register by clicking here - https://www.cafemutualevents.com/modal.php.