A little over two year ago, Principal MF tied up with Cafemutual to start ‘Principal Business Champions – Winning Ideas’, an initiative that gives IFAs a platform to share their success formula.
Under this initiative, Cafemutual invites entries from IFAs across the country on business development topics that has helped them grow business such as leveraging technology, acquiring new clients, maximizing revenue, serving retail clients, serving HNIs and so on.
Every month, IFAs share a short story on their success recipe depending on the topic. For instance, if the topic is client acquisition, they share what activities they have undertaken to acquire new clients and how well it has paid off.
Principal Mutual Fund and Cafemutual shortlist entries based on the quality and relevance of the content. The shortlisted ideas go for a voting exercise. Finally, IFAs who get highest votes get a chance to feature exclusively on Cafemutual.
So far, the initiative has received an overwhelming response with over 300 IFAs across the country participating in it.
Sharing the rationale behind this initiative, Gaurav Goyal, National Head - Sales & Distribution, Principal MF said, “I feel all IFAs have their own success formula that can help other IFAs grow their business. Through this initiative, we intend to bring all such ideas onto a single platform.”
Nishant Patnaik, Associate Editor at Cafemutual said, “Under this initiative, many IFAs have shared their success recipe to help other IFAs grow business. There were many interesting stories ranging from how a Mumbai IFA has used infographic to get business from inactive clients to how adding a chat feature on a website has helped an IFA from Jaipur to acquire new clients. In fact, these proven practices have encouraged many IFAs to implement these business strategies and grow business.”
In case you missed reading these stories, here are the links of the stories covered under this initiative:
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Two things IFAs do to increase their share of client’s wallet
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How these advisors created an emotional connect with their clients
We urge all distributors to participate in this initiative and help advisory community learn, grow and prosper.