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HSBC Mutual Fund has launched a new training program, ‘Inherit the Merit’ to encourage the second generation of existing MFDs to join the distribution business.
The two-day workshop aims to equip young distributors with knowledge and skillsets required to excel in MF distribution business.
To start with, the fund house will hold these programs in four major cities – Bangalore, Delhi, Mumbai and Pune. The Pune program will be held on May 20. Each program will have 30 participants.
The program will have 13 sessions covering a wide range of topics like business & marketing strategy, client profiling and profitability, data analytics & customer engagement and productivity enhancements using digital tools.
Ankur Thakore, Head Retail Sales & Distribution, HSBC MF said that the workshop aims to encourage the second generation to join the legacy set up by their parents. He said, “While talking to a lot of MFDs, we realized that the second generation has started coming into the business in many cases. The last few years have been really good for the mutual fund industry in India and the number of customers has been growing at a good pace. Thus, there is a lot of merit to the business itself which has led to the second generation coming in. One of the observations we had is that most second-generation MFDs did not get formal training before joining their parent’s business. We noticed a gap and tried to build a training program that helps them grow and learn the business at a much faster pace.”
MFDs can nominate their son, daughter, niece and nephew for this program. However, the MFD has to have at least 5 years of association with the fund house.
