The job of an MFD/advisor is way beyond helping clients select best funds. A perfect mutual fund planner comes up with solutions to address financial concerns of clients.
Many MFDs in India have been doing a wonderful job of devising mutual fund plans for their clients. Their efforts have resulted in financial well-being of many Indians.
In this context L&T Mutual Fund along with Cafemutual has come out with 'Perfect Planner' contest to award those MFDs who have a knack for solving complex financial scenarios.
Sharing the rationale, Ankur Thakore, Chief Distribution Officer, L&T Mutual Fund said, "Mutual funds have solutions for most of the financial needs but not everyone makes the best use of them. Through the 'perfect planner' contest, we want to reward the best planner who is able to fulfil the needs of the customer and also motivate others to enhance their planning skills."
How to participate?
To participate, MFDs/advisors will have to come up with a solution for a case that has been shared below. The entries can be submitted in any one of the formats — written or video. Participants have to mail the entry to abhishek@cafemutual.com.
The entry should contain a detailed answer including calculations, category of funds (liquid fund, largecap fund, flexicap fund etc.) and the mode (SIP, SWP etc..) you would suggest to Preeti to help her meet her financial goals.
The scenario
45-year-old Preeti lost her husband Arjun due to covid. Arjun was the sole bread earner in the family and is survived by his wife, ageing mother and 12 year old daughter.
Preeti will get Rs.2 crore from an insurance company and Rs.32 lakh from Arjun’s employer in the form of provident fund and gratuity.
Preeti knows that Arjun was investing in mutual funds through SIPs but she has no idea on how to get this money. The current value of his MF holdings is Rs.17 lakh.
Now, Preeti approaches you to get help on mutual funds. She also wants to you devise a mutual fund investment plan to fund her daughter’s higher education in 6 years and wedding in 15 years.
Preeti also wants your help to generate regular income to meet household expenses which include medical expenses of her mother-in-law. Currently, the family spends Rs.28,000 per month to meet monthly household expenses.
Preeti does not have term insurance and medical insurance. Also, Arjun had an outstanding house loan of Rs.33 lakh.
The best entry will get a digital certificate, trophy and Amazon voucher. The contest is open for MFDs and RIAs.
Do share your entries latest by September 13, 2021.
