Ambala IFA Bobby Aggarwal enrols 132 SIPs in a single day with an average ticket size of Rs.3757.
The idea of SIP drive came to his mind when he attended an event organised by Aditya Birla SunLife Mutual Fund in Ambala. One such session at the event was about targeting existing clients to create multiple SIPs in a single day.
Inspired by the idea, Bobby began the preparation of SIP drive by shortlisting 251 existing clients based on two criteria – clients who have not increased their SIPs over the years and clients who have got a raise due to implementation of seventh pay commission (largely government employees).
Over one month, Bobby met these shortlisted clients face-to-face to convince them to increase their investment in mutual funds through SIPs. Bobby helped these clients understand how they could get the benefits of rupee cost averaging if they started doing SIPs in these volatile markets. Bobby also made them identify their long term financial goals.
Of 251 clients, close to 80 clients including 7 new clients have started SIPs. These 80 clients executed 132 SIPs – 120 online and 12 offline in a single day. All these SIPs were in equity funds.
Bobby started his advisory journey with Bajaj Allianz Life Insurance in 2010 as an agent. His journey with mutual funds started in 2011 when a friend requested him to manage his mutual fund portfolio worth Rs.5 lakh. Bobby took this as a challenge and started doing research on mutual funds. In this process, he approached Surat based national distributor NJ India to help him understand the concept of mutual funds and its distribution.
Currently, Bobby has over 1000 clients with a monthly SIP book of Rs.70 lakh. He manages assets under advisory of Rs.30 crore in mutual funds.
The successful SIP drive has boosted Bobby’s confidence and he intends to conduct another SIP drive in the coming months.