Three MFDs have conducted successful SIP drives recently.
MFD couple Manisha & Vinod Choudhary of Investment Junction, Kolkata recently conducted a children-oriented SIP drive while Shreyansh Kumar of Agra executed a drive that focused on combating uncertainties. Additionally, Philip Cherian of Smartsave Finserv, Kochi conducted another SIP drive this month.
Here is how these MFDs did successful SIP drives:
Manisha & Vinod Choudhary of Investment Junction, Kolkata, West Bengal
The couple celebrated Children’s Day by organizing a SIP drive that exclusively focused on children’s future.
The couple created a 30-day plan for the drive that was largely executed physically.
As the first step, they listed down the names of clients with kids under 18 years of age. Simultaneously, they also collated video testimonials of other existing clients who have invested for children education.
Vinod said, “As it is mandatory to have a bank account in minors’ name, we personally got involved to help our clients with the account opening formalities.” He believes that extending services beyond mutual fund distribution and being available 24X7 for clients helped them win their clients’ trust.
Detailed client discussions, testimonials, social media marketing and regular follow-ups resulted in a turnout of 30 clients (including 4 referrals) who registered 39 SIPs amounting to Rs 44,000.
Philip Cherian, Smartsave Finserv, Kochi, Kerala and President of the Association of Independent Financial Advisors (AIFA)
This was Philip’s eighth monthly drive. According to him, keeping in regular touch with clients and social media marketing attracts investor participation in his drives.
He said, “Continuous client engagement keeps me posted about their current financial needs. We also received couple of queries on our YouTube channel.”
Philip booked 101 SIPs amounting to Rs. 2.39 lakh on Nov 29, 2021.
17 investors including 5 NRIs invested through this drive. Of the total participants, 10 were existing clients and the balance 7 were clients converted from referrals and social media.
Shreyansh Kumar, Agra, Uttar Pradesh
During his routine interactions, Shreyansh sensed clients’ anxieties around market volatility and the third wave of covid-19. “This planted the seeds of the drive as SIPs can help them overcome volatility and uncertainties”, said Shreyansh.
Shreyansh asked his team to inform all existing clients about SIP drive and seek meetings. In these meetings, he explained to them the concept of ‘rupee cost averaging’ and benefits of SIPs. He advocated creating emergency funds where clients were worried about the uncertainties related to covid-19. He also suggested his clients to invest in international funds for global diversification.
After 10 days of detailed discussions, multiple calls and periodic follow-ups, Shreyansh booked 220 SIPs for Rs. 13.5 lakh on Nov 29, 2021.
More than 100 investors participated in the drive.
Have you also conducted a SIP drive recently? Do share your story with us at nishant@cafemutual.com or newsdesk@cafemutual.com.