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Kushagra Kulwal, an Indore-based second-generation MFD recently did 111 SIPs amounting to Rs. 9.10 lakh. Overall, 42 clients participated in his SIP drive of which a few were new.
The young MFD did this SIP drive on his birthday but he dedicated it to his father Rajesh Kulwal’s hard work and dedication over the years as an MFD.
Rajesh Kulwal is the President of the MFD Association (Central India). He runs a distribution company Duoak Finserv. In conversation with Cafemutual, Rajesh revealed the importance of passing the baton to second-generation MFDs and what he thinks about the newer generation entering the industry.
Rajesh emphasized that it is paramount for people to come together to grow the business sharing that he is committed to training the new generation and carrying forward the legacy of his business.
Second-generation MFDs
Rajesh said that being 50+ years of age, his clients' money should be taken care of long after his retirement, passing the baton to the younger generation is an important aspect of the business.
He believes that the newer generation brings newer technologies into the business and the marriage of experience from the first generation and technology & fresh perspective from the newer generation changes the dynamics of the business. He said, “If you bring new thinking to the business then 1+1 does not equate to 2, it equates to 11.”
Importance of Individual Identity
It is important for second-generation MFDs to form their sense of identity, feels Rajesh. Hence Rajesh insisted that Kushagra form his own company. Before starting on his own, Kushagra trained under one of the leading Mumbai MFDs.
Talking about Kushagra’s recent 111 SIP drive, Rajesh expressed his happiness sharing that he also conducts SIP drives to keep himself motivated.
Cafemutual also spoke to Kushagra where he talked about the importance of having his father’s guidance and how it helped him gain confidence.
Talking about the drive, he said that he first approached his friends as potential clients.
His vision for the future includes spreading financial literacy across the country amongst people.