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IPL 2022 is over but centuries continue in form of SIP drives. Two MFDs - Ajit Shah along with Ankit and Ritika Sodhani from Sodhani Capital and Sanjay Gaggar of National Bulls Investment Services executed successful SIP drives.
Let us see how they conducted their SIP drives.
Ajit Shah, Ankit Sodhani and Ritika Sodhani of Sodhani Capital, Jaipur, Rajasthan
Why SIP drive?
Sodhani Capital recently completed three years and the trio - Ajit, Ankit and Ritika conducted a SIP drive to mark the celebration of this milestone.
What made the drive a success?
The trio chalked out a plan under the leadership of Rajesh Sodhani, an industry veteran. They started preparing one month before the SIP day by conducting three IAPs for different investor categories - chartered accountants, salaried individuals in back-office roles and salaried individuals in other roles like accountancy, sales, etc.
They invited these participants by reaching out to CA firms and other corporates through referrals. They also invited existing clients having similar work profile on their IAPs.
In these IAPs, the team delivered customized sessions based on target audience. They focussed on benefits of investing in mutual funds through SIPs. “We focused on SIPs as a tool for achieving financial goals,” said Rajesh. He added, “Conducting separate IAPs can help you address unique requirements of each group. Also, creating groups with similar backgrounds gives more comfort to participants.”
Post the IAP, a separate team stayed in touch with each participant to resolve their queries and concerns. Another team took care of documentation and other formalities.
Overall, they conducted two consecutive drives - SIP drive for CAs on May 30, 2022 and for salaried individuals on June 1, 2022.
How was the response?
Over 150 investors (including 30 CAs) booked more than 300 SIPs. These SIPs amounted to Rs. 15 lakh. 40% of the total participants were first time investors.
Sanjay Gaggar of National Bulls Investment Services, Navi Mumbai, Maharashtra
Why SIP drive?
Sanjay had conducted a SIP drive around three weeks back. Since then he received multiple enquires from investors who couldn’t participate in that drive.
What made the drive a success?
Sanjay identified that some of his clients and prospects did not participate in the previous SIP drive as they had concerns related to volatility. Sanjay reached out to each one of them through one-to-one meetings to address their concerns. He said, “I explained to investors how they can ride market volatility through SIPs and took them through the concept of rupee cost averaging. I also urged them to participate in my SIP drive to achieve their long-term financial goals.”
After the initial discussion, he resolved investors’ queries and stayed in touch with them through his team. The team ensured regular follow-ups and timely completion of back end activities.
How was the response?
61 investors (including 40 B-30 investors) registered 134 SIPs amounting to Rs. 3 lakh. 25% of the total participants were new investors.
Have you also conducted a successful SIP drive recently? Wouldn’t you like to share it with your peers? Do write to us at newsdesk@cafemutual.com and stand a chance to feature on the Cafemutual website.