It’s often said that ‘heroes emerge in tough times’. The saying has been proven right by three MFDs in April. Amidst challenges posed by the second wave of covid-19, Brajesh Singh from Gwalior, Deepak Khandelwal from Jaipur and Pramod Saraf from Indore successfully conducted SIP drives by initiating over 50 SIPs each.
Let’s look at the success stories one by one:
Brajesh Singh of RPL Financial Services from Gwalior executed 122 SIPs on May 5 amounting to Rs.3.26 lakh.
Here are key highlights of the drive:
- Approached existing clients having stable jobs and better financial condition
- Explained to them about attractive opportunities in defensive sectors like pharma and technology sector
- Shared with them fund managers’ outlook and comments on these sectors
- And the fact that the country will remain under restrictions for a few more months cemented their belief in these sectors
- To clients who were interested in buying additional term insurance, he approached them to invest in SIP which gives insurance coverage
- Overall, 60 clients participated in the drive
Deepak Khandelwal, R G Associates, Jaipur
Khandelwal initiated 111 SIPs amounting to Rs 4.98 lakh on April 26. The drive witnessed participation from 28 clients.
The ‘success stories’ series run by Cafemutual was the inspiration behind the SIP drive, said Khandelwal.
Here’s how the Jaipur MFD conducted the SIP drive:
- Approached salaried professionals who had stopped or paused their SIPs due to financial crisis last year
- Idea was to target clients whose finances were back on track and encourage them to restart investing in mutual funds
- Recommended exposure to technology funds and international funds as they were unaffected by the covid crisis
- Explained to them benefits of investing in defensive sectors like IT and international diversification
Pramod Saraf, Swan Invest from Indore
Saraf initiated 52 SIPs amounting to Rs 2.85 lakh on April 26 to mark his birthday. Over 20 clients participated in the SIP drive.
There was one another motive behind the drive. Saraf says he wanted to motivate the MFD community by conducting the drive amid the covid gloom.
“Amid the second wave of covid-19, I along with my team decided to keep the MFD community motivated by doing something different. Indore is fully closed and we are not allowed to move. But even then we managed to talk to clients and conduct SIPs online,” he said.
Here’s how Saraf and his team conducted the SIP drive:
- Targeted prospects whose KYC was incomplete due to lockdown. Completed their KYC through online platforms
- Informed them about attractive opportunities presented by equity markets
- Approached existing clients who had not invested any additional money post the outbreak of covid-19
- Convinced them to invest extra savings to benefit from the ongoing rally in equity markets
