2021 has been a golden year for MFDs where SIP drives became a new trend. Jaipur MFD Rajesh Sodhani and Mumbai MFD RH Kothari have welcomed 2022 on a high note. They have booked 1,053 and 2,377 SIPs, respectively.
Sharing their success story with Cafemutual, the SIP kings took us through their drive.
What we learnt from both our conversations is that investors today are keen to participate in the market through mutual funds, and MFDs should not shy away from approaching them.
Rajesh Sodhani, Sodhani Capital, Jaipur, Rajasthan
Rajesh along with his team Ajit Shah, Ankit Sodhani and Ritika Sodhani executed this SIP drive.
“This time, our back-office team joined hands with the sales team”, said Rajesh. The back office team called up those existing clients with whom they were in constant touch with respect to service-related queries while the sales team connected with other clients and referrals, he said.
The team explained to investors how a 5-year/10-year time horizon can help in building a reasonable corpus. “We made conservative assumptions for our calculations,” added Rajesh.
First-time investors were encouraged to open SIPs with modest sums like Rs. 1,000/Rs. 2,000. “This helps them to test the water, which in turn helps us in winning their faith”, said Rajesh.
Around 600 investors took part in the drive, which comprised existing and new clients in equal numbers.
The drive was executed digitally on Dec 13, 2021 with 1,053 SIPs amounting to Rs.30 lakh.
RH Kothari, Mumbai, Maharashtra
RH Kothari planned for his drive two months in advance and decided to celebrate it as ‘SIP day’. He came up with an interesting tagline - ‘SIP is Mast, SIP is Must’, for which he has also filed a trademark application.
He reached out to 10,000 random people through postcards which briefly explained the importance of mutual funds. Interestingly, RH Kothari reaches out to newer prospects every month through this activity. In the current digital world, postcards are bound to catch attention. He said, “Intrigued investors typically approach me to know more and get their queries resolved. This helps me to widen my reach and onboard new clients.”
Additionally, he also conducted two physical IAPs ‘Financial Freedom’ at a hotel, where he addressed more than 200 investors in total. Kothari said, “The steward serving food and beverages was also left inspired. The next day he called me for understanding more details and he registered his first SIP.”
Kothari explained to investors that SIP has become a basic necessity just like food, clothing and shelter. He also explained to them the benefits of SIPs (affordability, convenience, rupee cost averaging) and its three golden rules (start at the earliest, start with as much as you can, stay as long as you can).
Regular calls, WhatsApp messages and timely follow-ups garnered the participation of over 350 investors. Of these, close to 200 were new clients.
RH Kothari booked 2,377 SIPs (including 5 physical SIPs) on Dec 27, 2021 amounting to Rs. 34.50 lakh.
Inspiring stories, aren’t they? Would you want to share your story with your peers and inspire them too? Write to us at newsdesk@cafemutual.com and stand a chance to get featured on our website.
