Even the pandemic and lockdown restrictions cannot stop MFDs from doing SIP drives.
Recently, a MFD couple – Lakhvir Bansal and Mamta Bansal from Khanna, Punjab and MFD Kunj Bihari Gupta from Jaipur, Rajasthan have conducted their SIP drive successfully.
Let us look at their story.
Lakhvir Bansal and Mamta Bansal, Khanna, Punjab
Lakhvir and Mamta conducted their first SIP drive with 105 SIPs amounting to Rs.1.50 lakh in a single day. The couple drew inspiration from SIP drive articles published on Cafemutual.
Interestingly, the couple conducted this drive with 50 new clients who were first time investors in mutual funds. Also, most of these investors are shopkeepers.
Here is how the couple did their first SIP drive:
- The couple met almost all the shopkeepers in their town to educate them about mutual funds
- Most of these shopkeepers were invested in bank RDs which offered them close to 4-5%
- The couple highlighted 10-year performance of equity funds, hybrid funds and corporate bond funds to give them confidence in mutual funds
- They also explained to them the benefits of SIP in mutual funds and asked them to start with Rs.1000
- Mamta also organised an educational session for working women on mutual funds
- The couple also shared testimonials of existing clients who have achieved their financial goals because of mutual funds
Kunj Bihari Gupta, Nivesh Mitra Finvest, Jaipur, Rajasthan
During the lockdown, MFD Kunj Bihari Gupta conducted 8 educational sessions on mutual funds for his clients and prospects. In these sessions, many people showed interest in mutual fund investments through SIPs.
Here is how he conducted SIP drive.
- Prepared a list of participants who had benefited from his educational sessions
- Over the next three months, he approached each participant through physical meetings and video calls
- Followed up with each participant multiple times on phone calls
- Approached shopkeepers in villages through shopkeeper association
- Explained to the them the benefits of SIP in mutual funds and highlighted the long-term performance of equity funds compared to other investment options
- Overall, 15 new clients participated in his SIP drive
- Approached existing clients who had not increased their SIP in two years. Explained to them the benefits of investing in sectoral and international funds through SIPs
- Overall, 35 clients did 205 SIPs