The share market has always been dear to Sanjay Gaggar of National Bulls Investment Services. Talking to Cafemutual, Sanjay took us through his journey and shared with us his success mantra to grow business.
Sanjay graduated from the Indian Institute of Technology, Mumbai in 1995 and joined a conglomerate for their polyester and petrochemical manufacturing plant at Patalganga.
In 2003, his company nominated him for executive management at the Indian Institute of Management, Bangalore and he shifted to the telecom arm of the conglomerate. Later, for his exemplary performance, Sanjay was conferred with certificate of excellence in 2015 and 2016.
Sanjay was well-established in his career but he always had a strong inclination towards equity markets. To test the waters, he took a sub-broking license. As the business grew, Sanjay quit his job to become an entrepreneur. In 2017, he was the Vice-President at his company when he decided to answer his calling.
During the first year itself, Sanjay expanded his offerings by adding mutual funds. Overtime, he realized that mutual funds meet almost all investor needs and help combat market volatility better.
Here are some of the things that helped Sanjay establish his presence in the mutual fund space.
- Setting up the infrastructure
Sanjay purchased an office from funds set aside from his investments and salary. “A permanent address creates a trustworthy set-up for clients and gives them a sense of security,” he said.
He also hired employees for back-end and operational activities, which gave him more time to focus on business. Gradually, as the business grew, Sanjay expanded his team, which currently comprises eight members.
- Acquiring clients
To start with, Sanjay acquired his family, relatives and friends as clients. He conducts regular educational sessions to attract more clients. A unique thing that Sanjay offered was a 1-hour-consultation to his prospective clients who attended his sessions. He said, “Such sessions help MFDs to break the ice and understand needs of prospects. It also set the tone for their investment journey.”
As of Nov 2021, Sanjay manages around Rs.60 crore of AUM for more than 600 clients in India as well in UK, Singapore and Gulf regions. He acquired NRIs clients through referrals.
- Giving a personal touch
Sanjay stays connected with his clients through monthly calls. Moreover, he shares industry-specific updates with them once every three days through WhatsApp.
Further, he has segregated his clients into different segments like millennials, middle-aged salaried individuals, women, NRIs and so on to send relevant communication.
Sanjay offers an app to his clients for transacting and monitoring their portfolios with ease. He also makes it a point to review their portfolio and personally send them periodic updates with relevant suggestions. He said, “This makes clients feel cared for and nurtures bonds further.”
As the new year is around the corner, Sanjay has gifted his clients personalised diaries with their names embossed to strengthen further his personal relationships.
As a parting shot, Sanjay said, “Mutual fund distribution is a serious business with huge potential allowing MFDs to add value to their investors’ life in numerous ways.”
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