Tell us about your journey in the MF distribution business.
We have been in financial services from the past 20 years. Over the years, we have learnt many lessons, which we implemented in our practice. Here is our approach to grow business:
- Offer multiple products and services
- Follow client centric approach - understand them and provide solutions not products
- Have a team and invest in your business
- Use social media for engaging with clients
- Use platforms like MF Utility (MFU)
All these strategies have worked well for us and we have witnessed our business grew 4 times in just a few years.
How did MFU help you transform your business especially during pandemic?
We have been using MFU since 2017. I can definitely say that MFU has played a key role in shaping up our business to become future ready.
While we have shifted our business completely online, the realization has come when we saw lockdown restrictions due to the pandemic. I still remember many clients showed their interest in investing in mutual funds in March 2020 after the market saw a massive correction. Thanks to MFU, we have executed transaction then and created many happy clients.
What makes MFU a better platform?
Since the beginning, we have been using MFU. We have not used any other platform. This shows our level of satisfaction with MFU.
While MFU is a digital platform, we get personalized support for all our queries and services. We can simply call MFU and get our issues resolved in minutes. In MF distribution business, you have to be accessible 24*7 for your clients and MFU can keep you ahead in this journey.
What is one major achievement that you would like to highlight?
We are based out of Bhavnagar but today 35% of our investor are outside Bhavnagar. It was all because of MFU.
Any important suggestion to MFDs who are yet to move their business online to platforms like MFU?
You can’t live without technology in today’s world. MFU is a must for all MFDs who want to achieve sustainable business growth.
Platforms like MFU help us to focus more on business. There is no need to waste time on mundane tasks like filling up forms, submitting application forms and so on. Thanks to MFU, I have just two members in my team to take care of operational work. The rest 13 members focus more on acquiring new clients and retaining the existing ones.
