Listen to this article
How does HSBC Mutual Fund go about increasing engagement with distributors?
We engage with distributors on multiple levels. At the sales level, we talk about our products, how they're positioned and the current market situation.
On the next level, we bring in our Indian and global investment teams for deeper discussions. We also organize global calls with international speakers to keep everyone updated on the global economy and events like the tariff wars.
Most importantly, we focus on making a real difference in the lives of distributors by offering regular training programs. These are done with both internal experts and external trainers and are designed to support everyone from beginners to experienced professionals.
What kind of training support do you offer to your distribution partners currently?
Our training covers a wide spectrum because some of the distributors we cater to are new while others are veterans of the industry with years of experience, so we have a training bouquet, which can start with basics of mutual fund to very advanced investment courses.
In terms of skills set, there are areas of training program where our internal teams are fairly good. And there would be areas where we need specialized engagement. That's where we bring in the external trainers and training programs, which we feel can add value to our distributors.
Any specific training course that you have developed for distributors?
Yes, we’re launching a certification in International Wealth Management. It’s a foundational course created by Moody’s Analytics and PGP Academy. It aims to equip distributors with knowledge of global and local wealth management practices. We are talking about the evolving domestic and global context, which are changing, not just from a product perspective but the whole landscape. Though it is a global program, it has been tuned specifically to Indian investment professionals. The course spans three months and is designed specifically for Indian financial professionals.
Many MFDs already do certification courses. What makes this one different?
It's a very valid point, and I agree, a lot of MFDs have been investing in themselves. This course stands out because it’s curated by Moody’s Analytics, a globally recognized name with over a million learners across 150 countries.
It covers not just global wealth management but also topics like behavioral finance, alternate investments, PMS, estate planning, and practice management. It also comes with training support for CFA Investment Foundation Certificate. It is a two-in-one package.
Does the course touch upon EQ (Emotional Quotient) selling?
Yes, the endeavor of the program is to get people to the next level of service. The goal is to help distributors move from just selling products to offering holistic financial planning.
Some part of the training session would also be talking about trends in behavioral finance, which is happening globally, which will help MFDs connect with clients on a much deeper level.
What is the cost of this course?
Individually, the courses cost around Rs. 50,000. But we’ve subsidized it to just Rs. 4,500 for distributors. This is because we want people to have skin in the game when they opt for this course.
What are the other things that MFDs can do to keep themselves updated and enhance their knowledge?
MFDs should also be active on forums that add value. For example, platforms like Cafemutual regularly publish useful content taking inputs from major players in the industry. MFDs should read this and other valuable platforms because the mutual fund business is ever-evolving not just in terms of regulations, but the consumer. MFDs should attend at least events like Cafemutual. which are important to them as they add a great deal of value.
