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Whenever team Degree 212 Investment Services visit any of their clients, they insist them to open a SIP account for their driver and house help; this way, Degree 212 Investment Services has found a unique way to bring investors from the unorganized sector.
Some of their clients happily contribute and open a SIP account for their driver and house help and many clients increase the salary of their drivers and house help so that they can also contribute to SIP.
In fact, after seeing the growth in their investments, many of these individuals have increased their SIP amount on their own and also referred other people of their community.
Recognising this, Axis Mutual Fund and Cafemutual felicitated Team Degree 212 Investment Services with the prestigious ‘Sanjeevani MFD Awards’ at Cafemutual Ideas Fest 2024 (CIF 24) under the Pathbreaker category for helping people from unorganized sectors to start their first SIP.
Talking about their success story, MFD Varshali Budhauliya of Degree 212 Investment Services said that her company encourages all existing investors to educate their house help and drivers about mutual funds and help them achieve financial independence. “We received tremendous response and clients are more than happy to support us in this endeavour. This not only strengthens our relationship with existing clients, but our clients also get a feeling that they are giving back to society.”
Sharing her experience in working with people in the unorganised sector, Varshali said that many of these people do not have access to mutual funds. Most of them keep money in their bank account, cash and gold. They want someone to educate them about good products like mutual funds to achieve financial goals, she said.
She further said that the second generation in unorganised sector is gaining access to education and upgrading themselves. “Our office assistant is an excellent example. While working with us, he completed his graduation and simultaneously, he also learned about mutual funds. Now, he not only manages our mutual fund operations but he also actively educates his friends and neighbors about mutual funds.”
She believes that MFDs should hire people from the unorganised sector and train them to distribute mutual funds to get business from this sector. Also, MFDs should conduct knowledge sessions in the local languages to engage with them, she said.