Achuthan Kutty literally provides door-to-door through his ‘mobile’ office in the remote areas of Thrissur district in Kerala.
Hailing from a small village of Thrissur district of Kerala, Achuthan Kutty has a novel way to sell mutual funds in rural areas through his ‘mobile’ office. For the last 22 years, he roams around the villages in Thrissur district in his auto-rickshaw along with a driver for selling mutual funds and other financial products.
With over 1000 clients, Kutty believes in providing door-to-door services to his clients. When he started selling financial products, he realized that many people lack proper access and awareness of investment opportunities. He then decided to directly reach out to these people and help them achieve their financial goals. In 1991, he bought an auto-rickshaw as it was more spacious than a two wheeler and cheaper than a four wheeler. Now, his auto-rickshaw is his office in which he carries files, laptop, application forms etc.
Kutty started his career as an LIC agent in 1988. Later, he took distribution of NSCs, bank FDs and other financial products. One of his friends who used to work with a nationalized bank told him about mutual funds. Kutty tested the product by putting his own money in the schemes of UTI and Kothari Pioneer. Satisfied with his experience, he started distributing mutual funds.
Initially, Kutty found it difficult to convince villagers about the benefits of mutual funds. However, he persisted and then people started SIPs with him. Very soon, his passion for mutual fund distribution made him expand his reach to 10 villages. Now, he has asset under advisory of Rs 14 crore in mutual funds and Rs 20 crore in fixed income products.
Though Kutty can afford to buy a good car, he still wants to continue selling mutual funds in his trademark auto-rickshaw. He believes that his mobile business is just like an ATM for rural people where they can invest or redeem their money. He says mutual fund is his passion and his auto-rickshaw is a tool to reach clients. As most of his clients are from rural areas, he aims to target villagers from the adjoining districts too.
Recognizing his spirit, Kutty received the CNBC financial advisor award in 2010 and was felicitated with the MFRT Samman in Hyderabad last month.
