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Franklin Templeton's Invest for Progress Campaign brings to you three inspiring stories of Asheish Surti, Dilshad Billimoria and Rajee Rajesh that highlights commitment of women mutual fund distributors.
Through this article, we pay tribute to the professional journeys of these remarkable women who have carved a niche for themselves in the mutual fund distribution industry.
Chapter - Asheish Surti: Aureus Wealth, MumbaiAn individual institute
Asheish started her professional journey as a private banker. Her job involved working closely with HNIs, trusts and SMEs. Later in her career, she worked with a securities company and a private bank.
Every time Asheish changed her jobs, her clients moved their assets with her. This encouraged her to start something on her own. In 2012, she along with her ex-collegue, Minoo Engineer, started Aureus with an AUM of Rs.250 crore. In just 11 years since, Aureus now manages AUM of Rs.1600 crore, an exponential growth of over 500%.
Asheish attributes her success to referrals. She strongly believes that a happy client can bring in more clients.
Another important aspect that accelerated her business growth was doing the right thing for her clients, always! Asheish said, “Start small, be honest and do the right thing for your clients. Do not sell them a product before investing in it on your own. Clients appreciate the fact that you value and respect their money and don’t take undue risks. I am sure a few satisfied clients will open up many more doors for you to grow your client base.”
From the beginning, Asheish focuses on offering services like an institution. She has set up systems and processes in line with the private banks - like having a dedicated customer support desk to resolve queries of investors.
Ashiesh keeps herself motivated by following websites like Cafemutual to learn from her peers in the mutual funds distribution industry. She also believes that having a mentor or counselor can help mutual fund distributors challenge themselves and scale newer heights.
Key learnings:
- Set up institutional systems and process to service clients
- Mutual fund distributors don’t have bosses. Having a mentor can help you scale newer heights
Chapter: Dilshad Billimoria – Dilzer Consultancy, Bangalore The 80:20 Rule
Soon after completing her BBA in finance, Dilshad joined a large financial distribution firm in 1998. Sensing an opportunity in mutual funds distribution and financial advisory, she started on her own by floating Dilzer Consultants in 2001.
Dilshad started with insurance and mutual funds distribution. Eventually, she became a CFP to offer full-fledged financial solutions and in 2013 she took up an RIA license.
She grew her client base by posting articles in newspapers, websites and magazines to increase her visibility. She also acquired many clients by holding seminars in corporates and colleges. These activities coupled with referrals from existing clients helped her build assets under advisory to over Rs.550 crore.
Dilshad attributes her success to two things – following the 80:20 rule i.e. spending 80% time in listening to clients and 20% in asking relevant questions and offering comprehensive financial planning services.
Doing her bit to empower women, Dilshad motivates women students and professionals to take up finance as a profession. In fact, she takes career counselling sessions at leading women’s colleges and hostels.
Recently, Dilshad’s story was featured in a book titled ‘Wisest Owl’ which featured stories of 6 RIAs. In the future, she aims to become one of the top five RIAs in India.
Key learnings:
- Write blogs and articles to increase your visibility
- Spend more time listening to clients during client meetings
Chapter – Rajee Rajesh, Banconus, Trichy Nari Shakthi
An all-India CA topper, Rajee Rajesh started her mutual fund distribution journey after a sabbatical of 5 years. Having worked in the financial services industry, she was aware of the opportunities in the mutual funds distribution business.
In 2005, she started an investment and tax consultancy firm. Over time, she also completed her CFP.
Her initial set of clients were friends and acquaintances. Later, she acquired new clients through educational seminars for corporate employees, faculties of management colleges and women professionals.
She also runs an educational series on YouTube and holds an online Sunday school for women, ‘Shakthi’, on personal wealth management. These sessions aim to make individuals understand money and make them financially literate.
Rajee invests in fund research as well, to shortlist mutual funds schemes that can create wealth for her clients. She also invests in technology and setting up processes to offer convenience to clients like ease of transaction, regular monitoring of investments and customer query resolution.
Rajee believes in becoming a best friend to clients by remaining accessible for them 24*7 and ensures that she is just a call away for her clients.
Today, she manages AUM of Rs.350 crore from over 200 clients.
Key learnings:
- Doing educational sessions for working professionals can help you acquire new clients
- Remain accessible for clients
