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Haryana MFD Rakesh Kumar Sachdev became an MFD at the age of 60 years and got a new life purpose. In a short span of 3 years, Rakesh onboarded over 100 clients and created an AUM of Rs 4.50 crore. He runs his distribution business in the name of RKS Nivesh Plus and constantly works toward expanding his business further.
Rakesh spoke to Cafemutual and took us through the ups and downs of his life journey.
Here is the story of the brave and young at heart MFD.
Diabetic hypoglycaemia - The difficult times
I worked in the import-export industry and travelled globally for work. Everything was going fine, until one night, when I fell unconscious.
My family rushed me to the hospital. The doctor identified low sugar levels as the cause. To let you know, I have diabetic hypoglycaemia i.e. diabetes with glucose deficiency. What shook my family and me was that the same incident repeated ten more times in the following nine months.
Every time I travelled for work, altered sleep patterns and diet impacted my health further. It understandably left all of us worried and I was advised to stop travel. Such an untoward turn of events compelled me to leave my well-settled job in 2015. I was 57 then but retirement was always a far-fetched idea for me.
My health improved with regular medication, but my life lacked direction and purpose. I spent three years at home feeling lost, reclusive and frustrated.
Insurance and Mutual Fund Distribution - The ray of hope
One of my acquaintances who knew my background introduced me to insurance. The idea of guiding others to live a protected life intrigued me and I started as an insurance agent. I approached my friends to spread the word and onboarded them as my initial clients.
In the same year, one of my HNI clients spoke to me about mutual funds and I realised the importance of multi-product offerings. This is how I became a mutual fund distributor.
Being an MFD took my entrepreneurial journey to the next level. I can work and take care of my health simultaneously. My diabetes is under control now.
I limit my travel to a 40-50 km drive and beyond that, I see investors virtually on zoom or google meet platforms. Also, I can easily set aside time for morning walks and yoga. I cherish my newfound purpose and I have officially retired from retiring!
Discipline, technology and learning - My business mantras
Discipline is a key element for building a successful business. I start my work at 9:30 am daily. Also, I have a dedicated work corner at home that helps me focus.
To know prospects better I make use of an excel template. It has pre-defined parameters like name, age, family background, income, liabilities, existing investments, etc. In the first meeting/call, I simultaneously fill up the excel sheet. I seek two/three days to evaluate and get back with my suggestions.
Next, to make my presence felt I use social media. Posters are the easiest and fastest way to communicate your thoughts and educate investors. I use Canva, an online designing tool or at times I may outsource the designing process.
Lastly, I give equal attention to learning and upskilling. I regularly attend educational webinars. I also learnt Canva and integrated digital platforms into my business. Now I am preparing for NISM Portfolio Management Services (PMS) Distributors Certification Examination.
Rakesh’s story defies age and proves once again that learning and being a tech-savvy entrepreneur have nothing to do with age.
Isn’t this an inspiring story?
Do you also have an inspiring story to share? Do write to us at newsdesk@cafemutual.com and stand a chance to feature on the Cafemutual website.
