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Rohtak MFD partners Anchal Katyal-Vinay Goel and Udaipur MFD Rahul Jain have recently crossed the Rs. 1 crore mark in their monthly SIP book.
Let us look at their stories in their own words:
Anchal Katyal and Vinay Goel of Balaji Money Managers, Rohtak, Haryana
We actively started distributing mutual funds in 2016 and today, we cater to over 800 investors.
We follow the concept of ‘Goal-based SIPs’ where we link SIPs with a financial goal of clients. Our clients have been doing SIPs for their retirement, children education and marriage. We do SIP planning for clients i.e. we let our clients know how much money they need to invest today to achieve their future goals and take a note of how much they can invest today. Difference (if any) can be covered in the subsequent years. This way, clients know for which goal they are investing and how they should go about achieving it.
For clients who did SIPs for basic goals like retirement and children education, we introduced newer goals to them like SIP for holidays or SIP for second honeymoon.
Another activity we do is staying in touch with clients especially during volatile markets. We encourage them to start new SIPs or top up existing SIPs whenever there is opportunity in the markets like in March 2020.
All these activities have paid off well to us and we have built monthly SIP book of Rs.1crore. We believe that MFDs should do goal-based SIPs, introduce newer financial goals and encourage clients to increase SIPs wherever there is an opportunity.
Rahul Jain of GR Finvisors, Udaipur, Rajasthan
I started distribution business in 2018 and currently, I have 300 clients.
I believe that there are host of activities that has helped me build monthly SIP book of Rs.1 crore.
Firstly, I am a regular contributor at knowledge sharing platforms like Quora. I usually respond to queries of investors every day on these platforms. I received a lot of leads through these platforms. I usually recommend clients to do STPs with lumpsum money as I believe a staggered approach is the right way to approach equity markets.
Another important thing is linking SIPs to financial goals. Many people do not like to redeem or discontinue their SIPs if their investment is attached to a financial goal like children education and marriage.
Finally, I regularly sit down with my clients to review their portfolios in the light of changing variables like inflation, income, expenses, etc. This way, I realign their financial goals by opting for adequate top-ups to their existing SIPs.
Overall, building a SIP book is a journey and MFDs should simply keep adding new clients and recommend goal-based SIPs to their clients to grow their SIP book.
Cafemutual congratulates Anchal, Vinay and Rahul for achieving a new milestone and wishes them many more such milestones.
Do you also wish to share your story of business success with your peers and inspire them too? Do write to us at newsdesk@cafemutual.com and stand a chance to feature on our website.
