Indore based stock broking and financial advisory firm Arihant Capital has initiated over 6000 SIPs in a single day through BSE Star MF.
Sharing the rationale for this SIP drive, Ashok Jain, Chairman Arihant Capital said that the company aimed to help people attain financial freedom through SIPs to mark the occasion of 72th Independence Day. He said, “We at Arihant Capital always believe in the power of investing and transforming lives of individuals through wealth creation. The entire team of Arihant is working hard on the vision to make clients financially free.”
Talking about this drive, Deepak Bhasin, Head-Distribution, Arihant Capital told Cafemutual that the team started preparing for this drive a month ago. “We divided this drive into three broad parts – marketing, operation and execution. In the first part i.e. marketing, we approached all our existing clients who are into direct equity and encouraged them to start SIPs to achieve their long term financial goals. We explained to them the difference between trading and investing and helped them identify financial goals to achieve financial freedom. In addition, many clients helped us with referrals so that we can help their friends and family members attain financial freedom. Over 2000 investors participated in this SIP drive of which close to 1000 were first time investors.”
In the second phase of this drive, the company ensured that they completed KYC and account opening procedure of new investors before initiating the transaction. Finally, the company executed SIPs of these clients with the help of BSE Star MF officials on August 20.
Bhasin said that the company has also assessed risk appetite of these investors before recommending schemes to them. “It is not that we have recommended only equity funds to our clients. We have also recommended balanced funds and debt funds depending on the risk appetite and time horizon of investors,” he said.
Bhasin attributed the success of this drive to his team and BSE Star MF. Currently, 14000 distributors use BSE StAR MF across 3,000 cities.