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Amravati MFD Mahesh Gattani and Delhi MFD Santosh Mishra have built monthly SIP book size of over Rs.1.50 crore. Both the MFDs share with us three key learnings in their journey of building strong monthly SIP book.
Let’s look at their lessons in their own words:
Mahesh Gattani, Balaji Investments, Amravati
Learning 1 – Conduct monthly sessions
I conduct monthly sessions on various educational and relevant topics for my existing clients. In these sessions, I invite 50 clients each month and talk about relevant topics that can impact their investments and benefits of continuing and increasing SIPs. I also talk to them one-on-one to address their queries and concerns related to money and investments.
This way, I understand their dynamic life goals and recommend them to start new SIPs.
Learning 2 – Recommend SIPs in debt funds
I recommend my clients to keep aside at least 20% of their monthly SIP contribution in debt funds to deal with volatile times.
Also, I recommend them to invest in short term or liquid SIPs to offer some cushion during urgent liquidity needs.
Learning 3 - Annual SIP drives
I conduct at least three SIP drives every year. Having a specific date dedicated to SIPs makes investors think more seriously and make quicker decisions. Also, I usually execute them on celebratory days like Women’s Day, Independence Day and Children’s Day to make it more relevant. This gives every drive a theme and generates interests amongst investors.
Santosh Mishra, Delhi
Learning 1 - Encourage small starts
Investors new to mutual funds are concerned about market volatility and thus sceptical to invest. I first illustrate how small and regular SIPs can create a sizable corpus over time. I encourage them to start with smaller amounts like Rs. 500 or Rs. 1,000.
Once investors experience the ease and benefits of SIP investing, they look at topping up or starting new SIPs eventually.
Learning 2 - Daily calls to prospects
I call at least two prospects daily. These are references from existing clients.
I start with a casual conversation and then ask questions to understand them better. I also focus on understanding their concerns and resolving their queries. Post the detailed discussions, I recommend them to start SIPs.
Learning 3 - Quarterly/half-yearly meetings
I meet existing clients every three/six months. We talk about portfolio performance, life stage developments and changing financial aspirations. I can thus make suitable top-up and new SIP suggestions. Additionally, such periodic meets also garner new references.
