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Principal Times Learn and adopt these 12 proven practices to boost your advisory business

Learn and adopt these 12 proven practices to boost your advisory business

Principal Pnb MF’s new initiative with Cafemutual titled ‘Principal Business Champions – Winning Ideas’ will help IFAs learn from the best practices of other advisors.
Nishant Patnaik Jun 3, 2017

Learning from other people’s experience and replicating best practices and challenges is an effective way to achieve success. Sharing this belief, Principal Pnb Mutual Fund and Cafemutual have jointly introduced a new initiative ‘Principal Business Champions – Winning Ideas’ to help you learn from the best practices of other IFAs.

To give you a brief, ‘Principal Business Champions – Winning Ideas’ is a knowledge sharing platform  in which IFAs can share their best practices that have helped them grow business & best idea will be shortlisted and featured on Cafemutual. Every month, Cafemutual will invite 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, communication tools and so on.

Depending on the topic, you need to share a short story on your success recipe. For instance, for a topic on client acquisition, you would share what activities you have undertaken to acquire new clients and how it has paid off.

You will have to send your stories at mysuccessstory@cafemutual.com. Principal Mutual Fund and Cafemutual will shortlist the entries based on quality and relevance of the content. The shortlisted ideas will be open for a voting exercise. IFA who gets highest votes will get a chance to feature exclusively on Cafemutual’s platform.

These 12 practises can make a significant difference in your practice.

Sharing the rationale behind launching this new initiative, Gaurav Goyal, National Head - Retail Sales, Principal Pnb AMC said, “In my experience, there are many IFAs across the country who grew their business by following certain best practices. Be it Lucknow or Mumbai, they all have something to share that will help other IFAs to take a cue and grow their business by implementing proven best practices.”

Goyal, further said that there has to be platform where IFAs can share and learn from experiences of fellow IFAs and this is how this initiative was conceived. “We are confident that this platform will benefit large number of distributors from ideas that have made significant business impact.”

Talking about other distribution engagement programs of the fund house, Gaurav said that his company has created a platform for distributors called ‘Principal Insights’ in which IFAs can interact with senior management including fund managers and sales and marketing team. “We aim to upgrade knowledge of our channel partners through this platform. In addition, we reach out to distributors through events and explain to them our investment philosophy and offerings.”

Giving a quick update on his fund house, Lalit Vij, CEO, Principal Pnb AMC, “We are backed by the financial strength, global expertise and experience of over 135 years in asset management of our parent. The Principal Financial Group, one of the world’s leading investment managers with $619.7 billion in AUM and offices in 18 countries throughout Asia, Australia, Europe, Latin America and North America*. For Principal Financial Group, India is a long term market opportunity with a focus to invest, build and grow a profitable mutual funds and retirement savings business over the next 5-10 years.

On investment philosophy of the fund house, he said, “At Principal, we bring a disciplined research focused yet benchmark aware approach to equity investing that focusses mainly on sustainable alpha generation through bottom up stock selection over market cycles. The India team follows the overall framework of 'Growth at a Reasonable Price' by focusing on research led attractive bottom-up stock opportunities across a range of sectors and industries, focusing on companies with improving business fundamentals, low relative valuations and potential catalysts for re-ratings on the upside, with controlled reasonable portfolio turnover levels and high portfolio active share. On fixed income side, the team again employs a disciplined research led approach, which focuses on a study of macroeconomic parameters to identify where opportunities could lie across the yield curve and in which market segment. This is combined with a robust in-house credit analysis process. The aim is to generate good total returns across the rate and credit cycle, by tactically managing duration and credit exposure across key funds.”

* Data as on May,2017. Source of data: www.principal.com 

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