Taking inspiration from Cafemutual’s article on Amravati-based Mahesh Gattani of Balaji Investments who initiated 500 SIPs in a single day, another Amravati-based IFA Rajesh Sharma has initiated 111 SIPs on Dhanteras.
Though the number looks small compared to Mahesh’s figure of 500 SIPs, it is certainly a big number for an IFA who started just three years ago.
Sharing his achievement with Cafemutual, he says, “I had gone through Mahesh Bhai’s story published on Cafemutual on September 27. This story is the source of inspiration for me to ‘Think bold and Plan big’. That day I made a pledge to initiate at least 101 SIPs in equity funds on Dhanteras.”
However, it is easier said than done. Rajesh approached 80 existing clients and asked them to start an SIP in equity funds instead of buying gold on Dhanteras. By the end of this 10 days exercise, only 25 clients agreed to start SIPs in equity funds.
Rajesh did not give up and managed to get over 50 referrals from his 150 clients. He started meeting prospects to understand their interests and encourage them to start SIPs in equity mutual funds. He explained to them the concept of long term investing in mutual funds through SIPs. He convinced 30 new clients to start SIPs on Dhanteras.
As a result, Rajesh has initiated 111 SIPs on behalf of his clients in equity funds in a single day. The average ticket size of SIP is Rs.1,700 per month per folio with a minimum time horizon of five years.
In future, he plans to enrol with a digital platform to initiate 500 SIPs in a single day.
