Philip Cherian from Kerala and Mehul Shah from Gujarat have initiated over 100 SIPs in a single day. Let us look at their story:
Philip Cherian, Smartsave Finserv LLP and President of the Association of Independent Financial Advisors (AIFA), Kerala
After doing successful SIP drives in April and May, Philip scored a hat-trick in June with 101 SIPs amounting to Rs.2.57 lakh. Here are some key highlights and learnings from his SIP drive:
- Created a list of people who could participate in his SIP drive. The list comprised existing clients, referrals and prospects from his Malayalam YouTube channel
- Over the next fifteen days, he approached all these clients through phone calls and meetings and helped them understand the benefits of investing in mutual funds through SIPs
- Overall, 23 clients participated in the drive including 6 NRIs and 7 first time investors
Two key learnings:
- Pre-planned activities like data compilation and analysis give a meaningful direction
- Leveraging technology saves time which can be utilised for new business acquisition
Mehul Shah, Money Plant Finmart, Ahmedabad, Gujarat
Mehul Shah did 115 SIPs amounting to Rs. 3.56 lakh. Let us look at how he executed this SIP drive:
- Gave theme to his drive ‘Yog for Health, SIP for Wealth’ to spread the message that SIPs can generate wealth over long term
- By giving example of discipline in maintaining a good health, he made his clients understand that investing systematically in equity funds can generate wealth. He also conducted a webinar on financial health 10 days prior to his
- Overall, 78 clients participated in this drive
Two key learnings:
- Giving a theme to a drive makes it easier for investors to relate and motivates them to participate
- Promotional activities of the drive must begin much in advance to reach a wider investor group
