Over 300 IFAs share powerful business tips

A  little  over  two  year  ago,  Principal  MF  tied  up  with  Cafemutual  to  start  ‘Principal  Business Champions – Winning Ideas’, an initiative that gives IFAs a platform to share their success formula. 

Under   this   initiative,   Cafemutual   invites   entries   from   IFAs   across   the   country   on   business development topics that has helped them grow business such as leveraging technology, acquiring new clients, maximizing revenue, serving retail clients, serving HNIs and so on.

Every month, IFAs share a short story on their success recipe depending on the topic. For instance, if the topic is client acquisition, they share what activities they have undertaken to acquire new clients and how well it has paid off.

Principal Mutual Fund and Cafemutual shortlist entries based on the quality and relevance of the content. The shortlisted ideas go for a voting exercise. Finally, IFAs who get highest votes get a chance to feature exclusively on Cafemutual.

So far, the initiative has received an overwhelming response with over 300 IFAs across the country participating in it. 

Sharing the rationale behind this initiative, Gaurav Goyal, National Head - Sales & Distribution, Principal MF said, “I feel all IFAs have their own success formula that can help other IFAs grow their business. Through this initiative, we intend to bring all such ideas onto a single platform.”

Nishant Patnaik, Associate Editor at Cafemutual said, “Under this initiative, many IFAs have shared their success recipe to help other IFAs grow business. There were many interesting stories ranging from how a Mumbai IFA has used infographic to get business from inactive clients to how adding a chat feature on a website has helped an IFA from Jaipur to acquire new clients. In fact, these proven practices have encouraged many IFAs to implement these business strategies and grow business.”

In case you missed reading these stories, here are the links of the stories covered under this initiative:

1. 12 proven practices to boost your advisory business

2. The referral marketing champions

3. Use of social media to grow business

4. The best advice an IFA have ever received 

5. Proven ideas to retain clients

6. Dealing with difficult questions of clients

7. Lessons IFAs have learnt from their mentor

8.  Two things IFAs do to increase their share of client’s wallet

9. ‘If I had a time machine, I would go back and...’

10. Social media activities that helped IFAs grow business

11. Targeting young clients to grow client base

12. How these advisors deal with wealthy clients

13. How to help your clients achieve financial goals

14. How these advisors have benefited from their website

15. How these advisors created an emotional connect with their clients

16. How LinkedIn has helped these advisors increase visibility

17. Lessons these advisors have learnt from Indian mythology

18. How these IFAs helped their clients in tough times

19. How to manage clients’ expectation in tough markets

20. Here is how I rebuilt my relationship with inactive clients

21. ​What these advisors learnt from their Guru

We urge all distributors to participate in this initiative and help advisory community learn, grow and prosper.