IDFC Mutual Fund has launched an initiative called ‘Prarambh’ to facilitate smooth transmission of MFDs' business to their successors. The fund house has tied up with Centre of Investment Education & Learning (CIEL) to teach nuances of the mutual fund distribution business to successors of MFDs.
All MFDs who are empaneled with IDFC MF can nominate a successor for the program through their relationship manager. The course is free of cost.
IDFC MF said that the first batch has already started receiving the training. The first session was held on June 5, 2021 and was attended by 66 participants. Next batch will start training in August.
"IDFC Mutual Fund conceptualized Prarambh with an intention of helping MFDs in the continuity of their business within the family. The curriculum imparts knowledge both on technical and soft skill side, right from industry trends, markets, products, selling skills, use of technology, presentation skills etc. These skills will enable the successor to take the business forward. We hope that the program will help build the confidence of the next generation of MFDs create a stronger value proposition," said Gaurab Parija, Head – Sales & Marketing, IDFC Mutual Fund.
More details of the program:
- The course includes 11 sessions on topics such as business modeling, financial planning and people management. The sessions will be held over a period of 6 months
- All sessions will be held online. Participants will receive handouts and access to modules
- Participants will get course completion certificate at the end pf the program, provided they attend minimum nine sessions and clear assessments with over 65% marks
