I started my career in Mumbai with a mutual fund distribution firm. Subsequently, I worked with Kothari Pioneer Mutual Fund (later taken over by Franklin Templeton) for nearly eight years. Next, I joined ICICI Prudential Mutual Fund. I was a part of the founding team at Axis Mutual Fund after which I decided to become a financial planner.
My first client was my friend’s acquaintance. When he came to me he was in complete financial mess due to several wrong financial decisions. He had three flats in Mumbai out of which he was repaying loans for two flats. He sold the third house for Rs 60 lakh and bought a new house in Pune worth Rs 80 lakh for which he had taken another loan of Rs 20 lakh. He had also lost money in stock markets. He had Rs 10 lakh in his contingency fund. I advised him to first repay all his loans.
I had drawn a comprehensive financial plan for him in which I did substantial restructuring of his investments and loans portfolio. This impressed him a lot. Among other things, he invested Rs 3 lakh in liquid fund and started SIP of Rs 65000. I had charged Rs 20,000 as my annual fees. Now, he is in a stable position and very soon he is going to buy a new house in Malad with the help of income he earned through his investments. My first client taught me that wrong financial decisions can ruin one’s life.
Jalpa Broker
Jalpa’s first client gifted her a gold coin of 5 gm and 5 referrals.
My first client was an NRI. I approached him with the help of my friend in 2007. I was able to gain his confidence in the first few meetings. As he had to go back to Dubai, he asked me to prepare a comprehensive financial plan for him quickly. I had taken 15 days to complete my first financial plan. He was very impressed with my plan and invested Rs 1 lakh through SIP and 3 lakh in debt and equity funds. I had charged Rs 25,000 for this plan. In just a few years, my client saw growth in his wealth. He gifted a gold coin of 5 gm to me. I still hold that gold coin because it’s a source of inspiration for me. Now, my first client, his wife and two daughters are like my own family members. In fact, he has given me 5 referrals so far. I have learnt that hard work always pay off.
