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You must have heard this - one who earns Rs.10,000 but saves/invests Rs.1000 per month is wealthier than someone who earns Rs.1 lakh and saves nothing. Pune MFD Sandeep Bhushetty proves this by guiding a domestic help to fund her daughter’s engineering. The daughter is now working with an MNC and drawing a decent salary.
This started around 15 years back when one of Sandeep’s clients introduced his domestic help who needed financial guidance. “She had recently lost her husband and was dealing with emotional trauma and financial constrain,” said Sandeep.
As she narrated her story, Sandeep realised that her major worry was securing her daughter’s future. Sandeep said, “She wanted her daughter to lead a better life with financial independence. I encouraged her to start investing in mutual funds through SIPs.”
While she agreed to invest in mutual funds, she did not have the requisite KYC documents to start investing. Sandeep went out of the way and helped her obtain PAN and open a bank account.
She started with a modest amount of Rs. 2,000 per month and gradually kept increasing the amount with every rise in income. Finally, after 15 years, when her daughter finished schooling, the single mother confidently enrolled her for Bachelors of Computer Sciences and subsequently Master of Computer Sciences.
Today, her daughter is working with a reputed multinational company and drawing a decent salary. The proud mother continues to hold her investments in mutual funds and plans to use them for her daughter’s wedding. Notably, she now contributes Rs. 20,000 every month. Also, having witnessed the benefits of SIP closely, her daughter invests 50% of her salary in mutual funds.
Just like this mother-daughter duo, Sandeep has touched the lives of close to 700 such clients who are drivers, gardeners, cooks and others from an economically weak section of society.
Sharing tips on acquiring investors from the bottom of the pyramid, Sandeep said, “Addressing their pain points is the key to establishing a personal connect. This requires, patient listening and empathy. Also, keep it simple by using their language and put yourselves in their shoes for a more meaningful conversation.”
Recognising his efforts in making a big difference in clients’ life, Axis MF and Cafemutual came together to celebrate the extraordinary work and accomplishments of MFDs through Sanjeevani MFD Awards 2023 at Cafemutual Ideas Fest. The awards felicitated eight inspiring MFDs who are ‘Sanjeevani’ for their clients and have become an indispensable part of their lives. Sandeep was one such winner.
