Nitin Patel of Finfreedom33 shared his interesting journey with Sunil Subramaniam, MD, Sundaram MF at CIF (Cafemutual Ideas Fest) 2021. Nitin, a qualified engineer started his journey with a job in the Gulf. He came back India to join the health care industry and finally became a mutual fund distributor. ‘A hobby turned profession’ best describes his foray into the financial world.
In 1999, reaching Rs.1crore milestone on his own investment inspired him to help others achieve something similar. Gradually, he started encouraging his friends to invest in mutual funds to fulfil financial goals.
Today, he proudly announced the making of the 135th crorepati while speaking at CIF 21. Giving a passing nod to the iconic show title, Kaun Banega Crorepati?’ Sunil addressed Nitin as ‘Amitabh Bachchan of the MF industry.’
Nitin shared how he helps clients become crorepati with his fellow MFDs in conversation with Sunil:
- Taking calculative calls - Nitin’s company recently crossed the mark of Rs. 610 crore of AUM, with 95% of equity assets. Nitin believes that most investors have adequate exposure to debt products through banks, PPF and post office deposits. Also, equity funds have potential to deliver extraordinary returns to investors in the long run which can help them become a crorepati
- Having a long term approach - It is vital to make clients trust the process of investments and educate them about the market volatility. The market fluctuates in the short run, but over the long term, it aligns with the fundamentals. This is best explained by the famous quote, “In the short-run, the market is like a voting machine, but in the long-run, the market is like a weighing machine”
- Being a spectator - Clients must be taught to give their investment portfolio time to grow. Limited understanding and past experiences typically result in clients taking calls that hinder the wealth accumulation process. Due to half-baked knowledge, they normally shift between schemes frequently and do not stay invested in one particular scheme for long. Clients must be educated that they should not make any hasty decisions and must view their portfolio along with their MFD to understand their portfolio better
With the success achieved, Nitin has revised his target and desires to create 100 portfolios to be a part of the 100 crore club in the next 20 years. You can click here and watch the segment ‘How I grew my business - Inspiring stories of achievers (MFDs)’ where Nitin speaks about his magnificent journey. The segment also hosted other three renowned MFDs who also shared their journey to success.
