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Bhaavesh Kotecha of BMK Wealth, Hyderabad and Deepak Khandelwal of RG Associates, Jaipur celebrated the Independence Day by promoting the concept of achieving financial azaadi (financial freedom) through SIPs.
Cafemutual spoke to both MFDs to know about their unique SIP drives. Here is what Bhaavesh and Deepak have to say:
Bhaavesh Kotecha of BMK Wealth, Hyderabad
India has the highest population of young individuals. To attract young Indians, I ran a new campaign to spread awareness about financial freedom and mutual fund investing through SIPs.
Just like the government promotes ‘Har Ghar Tiranga’, I spread the message which says, ‘one SIP for every young Indian’. In this campaign, I met young individuals of up to 30 years by organising one-on-one knowledge meetings for them. I approached these individuals through referrals.
In these meetings, I spoke to them about how SIPs can help to attain financial freedom and addressed their queries related to money and investments. I also explained to them about how they can accumulate corpus through SIPs to fund their professional courses or entrepreneurial foray.
As a result, I acquired 20 new clients in 20 days. My team executed this entire SIP drive and we received 49 new SIPs amounting to Rs.2.50 lakh a month.
Deepak Khandelwal of R G Associates, Jaipur
I celebrated our 75th Independence Day by organising a retirement-oriented SIP drive on Aug 15, 2022.
I invited existing clients below 35 years of age and spoke to them about how they can attain financial freedom to fund their post retirement life through SIPs.
I give them a formula of ‘7500 X 12 X 25’. Let me elaborate on this. I numerically illustrated how a monthly SIP of Rs. 7,500 for the next 25 years can possibly create a corpus of Rs. 2 crores. I assumed a 15% return here.
Most of my clients appreciated this formula and showed interest in starting new SIPs for retirement.
Overall, 90 investors including four first-time investors participated in the drive. We did 152 SIPs amounting to Rs.7.50 lakh.