While we all have heard about SIP Login Day, Agra MFD Shreyansh Kumar’s recently celebrated SWP (Systematic Withdrawal Plan) Day. This intrigued us and we got in touch with him to know more.
Here is how our conversation went.
What was the rationale behind celebrating SWP Day?
Having celebrated SIP Login Days in the past, I wanted to do something different yet equally meaningful this time.
As we all know, the whole idea behind SIPs is to be able to accumulate wealth for a better future. My clients have been diligently investing for a long time and have accumulated corpus across equity, debt and balanced advantage funds. Now that they have reached a stage in their life that requires financial support, I thought to myself why not help them reap the benefits of their investments? This is how the idea of celebrating SWP Day came to my mind.
SWP Day aimed to make retirees financially independent through periodic cash inflows.
How did you prepare for SWP Day?
I created a list of my existing clients who fall in the age bracket of 45 to 65 years. Applying further filters, I segregated those clients who have either reached retirement age or have opted for VRS (Voluntary Retirement Scheme). This is how I created a structured database for SWP Day.
Next, I made a crisp PPT explaining the concept of SWP, its importance and its functionality. Thereafter, I shared the PPT over WhatsApp and kept updating the database. An updated database makes it easier to track activities and exercise better control.
The concept of SWP aroused interest amongst many and I received many inquiries. As investors were keen to know more, I scheduled meetings to explain the nitty-gritty.
But the needs of every investor differ, how did you cater to their unique needs?
I had detailed conversations with interested clients to understand their current cash flows. I listed down their incomes and expenses to derive the monthly amount of withdrawals needed. Further, cash flow timings also matter a lot. I guided my clients to select a suitable monthly withdrawal date for avoiding future cash flow mismatches.
How did the investors benefit from SWP day?
Periodic inflows give a sense of financial security to investors. 139 investors in the age group of 45 to 65 years benefited from the SWP Day. They will receive close to Rs. 58 lakh collectively for their monthly expenses.
Interesting story, isn’t it? Do you also have an interesting story to share with your peers? Write to us at newsdesk@cafemutual.com and stand a chance to feature on our website.
