Listen to this article
Kolkata MFD Chandra Sekhar Agarwala of Moneybud has conducted his first SIP drive in a unique style. His drive has a theme of passive for existing clients and active for new clients.
Let’s take a closer look at his drive in his own words:
Timing
We did our SIP drive in April so that salaried individual can deploy their increments in SIPs.
Existing clients
Passive funds have been getting popular among clients. In fact, a few of my clients have shown interest in investing in passive funds. Also, considering the challenges in generating alpha in a few scheme categories, it is important for MFDs and their clients to explore passive funds. Hence, I decided to conduct a passive-focussed SIP drive for existing clients.
We analysed investment portfolio of our existing clients who had not increased their SIPs in the last two years. After creating the list, we divided the responsibilities like client meeting, backend support and follow ups among our team members.
We started meeting with clients individually to talk about benefits of passive funds. We also explained to them about the importance of integrating both the styles - active and passive in investment portfolio. We did follow up meetings to address their queries related to passive funds.
Another team took care of backend operations to ensure smooth transactions.
New clients
As a regular practice, we request all our existing clients to give references. Over the last few months, we made a list of prospective clients through referrals. Our team met all these prospects through one-on-one meeting to discuss about benefits of starting SIP to achieve long term financial goals.
We also did their risk profiling, educated them about biases and helped them identify financial goals. We recommended all these clients active funds so that they can make good returns in the long run.
Key highlights
- Timing the drive - The drive was held in April to align with the appraisal season of salaried clients
- Clear bifurcation of responsibilities – We divided responsibilities among team members – while one team interacted with clients/referrals for their investment portfolio, the operations team looked into backend activities.
- Investor participation - We booked 223 SIPs on Apr 11, 2022 amounting to Rs. 7.5 lakh. Close to 110 investors invested through this drive, of which 20% were first time investors
Do you also have a story to share with your peers? Write to us at newsdesk@cafemutual.com and stand a chance to feature on Cafemutual’s website.