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Bihar MFD Amarendra Prasad Sahu hails from a very small town Supaul, a city which is nearly 260 km away from the state capital Patna.
However, his being located in a remote area did not stop him from achieving business success. At Cafemutual Confluence 2023, Sahu won the prestigioius Cafemutual Big League Awards for doing the highest number of SIPs in east India during FY 2022-23. East India includes Odisha, Jharkhand, Bihar, West Bengal, Sikkim, Assam, Meghalaya, Nagaland, Manipur, Mizoram and Arunachal Pradesh.
Powered by CAMS, the award aims to recognize the hard work of MFDs who achieved business milestones. It identified 26 MF champions across five broad categories – SIP, equity inflows, new folios, fintech player and overall business. The award was purely based on quantitative performance during the FY 2022-23.
Sahu did over 4200 SIPs from over 3000 clients in one year. He shares with us three success mantras; let’s look at them:
Never stop prospecting
Sahu conducts knowledge sessions regularly. He does it for government officials, school teachers and general public.
Sahu reaches out to government offices with the help of district collector. He urges the top officials to let him talk for 15-20 minutes during his visits to various government departments to spread financial literacy.
For schools, he approaches principals and teachers to conduct financial literacy programs.
Sahu also conducts knowledge sessions for general public at his office. He spreads the word through flyers and local WhatsApp groups.
During these sessions, he talks about benefits of doing SIPs in mutual funds to achieve financial goals.
Give them time to respond
Sahu believes that MFDs should not chase clients for business.
Post his knowledge sessions, he invites attendees to reach out to him through phone calls or one-on-one meeting at his office.
Sahu believes that 5 out of 50 attendees approach him for investments. He feels that once a prospect comes to your office post your sessions, he already became your client.
Once they visit his office, he engages in deep conversation to understand their risk appetite and financial aspirations.
Sahu does goal planning and recommends his clients to invest in mutual funds through SIPs to achieve goals like retirement and children education.
Keep yourself motivated
Sahu attributes his success to Cafemutual as he feels news and knowledge shared on Cafemutual keep him updated and motivated to achieve something. He said that he has implemented a lot of ideas that appeared in Cafemutual stories; he has used them to make his knowledge sessions more lively and improve his business skills.
Currently, Sahu has a monthly SIP book of Rs.44 lakh in Supaul.