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MFD Rajesh Bhardwaj from Delhi and MFD Sachin Kumar Mirajkar from Jalandhar manage a monthly SIP book of over Rs.1 crore. Cafemutual spoke to them to understand what worked for them. Let’s hear from them:
Rajesh Bhardwaj
SIP Accounts: 4,800 plus | Live SIP Amount: Rs. 1.30 crore plus | SIP AUM: Rs. 60 crore plus
The 1000 formula
I always encourage my clients to add Rs.1000 to their SIP amount. For instance, if a client agrees to start a SIP of Rs.10,000, I recommend them to start with Rs.11,000. Logic: While Rs.1000 may not have significant difference in their finances, it will create wealth for them in future.
Each SIP matters
Focus on encouraging clients to start a SIP irrespective of SIP amount. Many investors feel comfortable in starting SIP with small amount. Once they get first-hand experience, they eventually increase their SIP amount and open more SIPs in mutual funds.
Sachin Kumar Mirajkar
SIP Accounts: 1,900 plus | Live SIP Amount: Rs. 1.15 crore plus | SIP AUM: Rs. 25 crore plus
Offer ease of investing to clients
Many clients who run small businesses often find it difficult to commit monthly through SIPs. This is largely due to unforeseen business expenses. In such cases, I encourage them to set aside some cash daily or weekly.
For example, for a monthly SIP of Rs. 12,000, an investor could set aside Rs. 400 daily or Rs. 800 on 15 different days. My team usually collects this amount and deposits money in their savings account just before the SIP due date.
Label SIPs
I urge investors to label their SIP with their financial objective. For instance, it could be a financial goal like SIP for children’s education, children’s marriage and retirement or even a small expense like SIP for buying a car or funding a holiday.
Such labelling encourages investors to stay invested until their investment objective and sail through market volatility. Also, it makes their SIP investing experience more meaningful for them.
