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PhonePe Wealth Broking became the first runner-up under the ‘SIP Champion - NDs category’ at the Cafemutual Big League Awards for registering the second highest number of SIPs of during FY 2022-23.
The felicitation was held at the Cafemutual Confluence 2023 to celebrate MFDs and NDs who through their persistent efforts achieved new business heights.
In addition to PhonePe Wealth Broking, 25 MF champions won similar accolades across five broad categories - SIP, equity inflows, new folios, fintech player and overall business, purely based on FY 2022-23 quantitative performance. 
Nilesh Naik - Head of Investment Products, Share.Market (PhonePe Wealth) attributes this achievement to their three focus areas – offering smooth investing experience, providing learning content to aware investors and simplifying investing journey.
#1 - Smooth investing experience: The ND has made mutual fund investing intuitive and easy like their payments app. They also allow digital KYC on their platform which simplifies the onboarding process.
Additionally, the ND has introduced UPI autopay-based SIP registrations which significantly simplifies new SIP registration. Interestingly, the time taken to set up a new SIP is reduced from several minutes to less than 5 seconds since the UPI autopay facilitates instant registration through UPI PIN validation, said Nilesh.
#2 – Providing learning content: Nilesh said that their investor education efforts primarily focus on SIPs which they believe are one of the best investment products for retail investors.
He said, “We focus on investor education through a dedicated "Learn" section on our platform, regular educational emails and webinars with mutual fund industry professionals among others. Also, we have collaborated with the industry body AMFI to take financial education to the masses through our platform.”
#3 – Simplifying investing journey: There are more than 1,000 mutual fund schemes across 40+ AMCs and over 35 product categories. It understandably gets overwhelming for retail investors to choose the most appropriate products on digital platforms, said Nilesh.
He said that to simplify this, the ND has introduced journeys such as Investment ideas and start-a-SIP that enable investors to choose the right set of mutual fund schemes based on their investment objectives. “This helps ensure that investors invest in suitable core mutual fund categories/products based on thorough research of our mutual fund experts with decades of experience in the industry.”
