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Principal Times How these two IFAs targeted young clients to grow client base

How these two IFAs targeted young clients to grow client base

While Ahmedabad-based Milind Shah popularly known as ‘Money Bhai’ has shared educational films to attract the second generation of existing clients, Mumbai-based Khyati Mashru conducts workshop for them.
Team Cafemutual May 20, 2018

It is always best to learn from the proven practices that have helped IFAs expand their business. Keeping this in mind, Principal Mutual Fund in collaboration with Cafemutual have organized the tenth contest of ‘Principal Business Champions- Winning solution’.

The theme this time was how IFAs can grow their business by targeting the second generation of existing clients. The contest got an overwhelming response from the IFA community.

Here are the ‘success mantras’ of the financial advisors that received the highest votes.

Winner on Website and Facebook- Milind Shah, Ahmedabad popularly known as ‘Money Bhai’

Sharing a short film and initiating SIP for children helped me acquire the second generation of existing clients.

I ask my clients to make their children watch two short films on YouTube – One Idiot and Return of One Idiot. The young generation loves YouTube and these films convey the necessity of saving and investments in an interesting way.

I encourage the children to start investing in mutual funds through SIP with their pocket money. Since the investment amount is just Rs.250 per month, most of them agree to invest in mutual funds. Once they see how mutual funds work, they increase their investment amounts. 

Winner on Twitter- Khyati Mashru, Mumbai

Conducting workshops for clients’ children and sending them games and books on finance inculcate an investment habit among kids.

I conduct a workshop for clients’ family to target the second generation of my existing clients. We conduct workshops on topics that interest their children such as how millennials can plan for their finances and how to fund a foreign holiday.

We also give gifts to children of clients such as books and games related to money and finance on their birthdays. This helps to inculcate an investment habit among them; it also helped me build a good rapport with the children of my clients. I hope they will become my clients once they start earning.

 

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6 Comments
Adarsh Singh · 5 months ago
Gr8 going Milind Bhai... Congratulations to both of you!
vinayak shanbhag · 5 months ago
It is really the creativity born in our fraternity. Salute to both of you
vinod harjai · 4 months ago
Great things done for up coming generations ,changing there spending habbits,
great Milind bhai & khyati ,congratulations to both of u
chander Shekhar · 4 months ago
Good initiatives, Money Bhai and Kyati.

College students, especially those in the professional institutes could prove to be still better option in the area since they have better understanding with ample potential and are likely to enter into earning phase in quite near future.
chander Shekhar · 4 months ago
Good initiatives, Money Bhai and Kyati.

College students, especially those in the professional institutes could prove to be still better option in the area since they have better understanding with ample potential and are likely to enter into earning phase in quite near future.
Thobbae kuppusamy bhoopalan Ganesh · 4 months ago
Giving innovative ways in creating client base. Can you suggest some books for presentation to the children's
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