Despite the pandemic and subsequent lockdown situation, three MFDs have executed SIP drives successfully in the recent past.
Let us look at their story.
Deepak Khandelwal, RG Associates, Jaipur
MFD Deepak celebrated sixth anniversary of his MF distribution firm by executing 101 SIPs.
Let us look at how he did SIP drive:
- Since this SIP drive was about celebrating the sixth year of his MF distribution business, Deepak first approached 50 clients who have been investing with him for the last six years
- Since all these individuals were salaried, they were in a position to invest their savings in mutual funds through SIPs due to work from home
- Held a knowledge session for 22 prospective clients through referrals on mutual funds
- Shared a note with clients using historical SIP returns data to highlight the benefits of investing in mutual funds through SIPs
Philip Cherian, Smartsave Finserv LLP and President of the Association of Independent Financial Advisors (AIFA), Kerala
After a successful SIP drive in April, Philip decided to continue his SIP drive by reaching out to more clients in May. Here are the key highlights of how he executed the drive:
- Approached salaried and NRI clients who have not increased SIP in the last three years even though they have no financial constraints due to lockdown
- Approached a few prospects generated through his Malayalam YouTube channel
- Shared with them why SIPs in mid cap funds offer an attractive opportunity to investors
- Overall, 23 clients participated including 5 new NRI clients in the drive. Successfully conducted 101 SIPs amounting to Rs.3.10 lakh
Rohit Drolia, DFSL Wealth, Kolkata, West Bengal
While anytime is good to start SIPs, Rohit believes with the ongoing pandemic and low interest rates, equity offers highly attractive returns.
Here are key highlights of how he conducted SIP drive:
- Approached 70 existing clients who are salaried individuals
- Highlighted benefits of increasing SIP amount to achieve financial goals
- Shared with them historical performance of SIPs vis-à-vis lumpsum investments in mutual funds that shows SIPs outperform lumpsum in the long term
- Overall, 34 clients participated in the SIP drive amounting to Rs.12.80 lakh