Listen to this article
Kutch’s Shah family - Paras Shah, Chandrika Shah (wife), Jay Shah (son) and Hetal Shah (daughter-in-law) have built AUM of Rs.200 crore in mutual funds with monthly SIP book of over Rs.1 crore. 
Shah family attributed their success to four things. Let us look at them:
Targeting the second and third generation of existing clients
We are in the business of distributing mutual funds since 1980 and enjoy a long-term association with many clients. We have been approaching all our existing clients to get us introduced to their children and grandchildren.
Once we get their lead, we meet with them through one-on-one meeting to talk about money and investments and highlight our digital offerings like investment through website and app as the new generation is more comfortable with online transaction.
We encourage them to start investing with a small amount in mutual funds through SIPs to test the waters. Eventually, when they are comfortable, they increase top up their SIPs with us.
Client segmentation
We categorise our clients in various groups like self-employed, salaried and professionals. Based on their groups, we customize our communication strategy. For instance, we talk about having emergency corpus to deal with uncertain situation with business professionals. Similarly, we give tips on budgeting and investing to salaried individuals. The idea is to communicate in such a way that addresses queries and concerns of a particular group.
Regular meet to top up SIPs
We conduct annual portfolio reviews with all our clients. During these meetings, we seek information about key events such as salary hikes, child birth, marriage plans, etc. This is usually followed by another meeting in which we encourage them to increase SIPs in line with their changing dynamics.
Planning is key
At the start of every financial year, we plan our activities that can help us grow business. These activities include - list of clients to be approached for referrals, educational sessions to be executed and SIP drives to be conducted. We conduct at least 5 educational sessions and at least 3 SIP drives every year.
