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Chennai MFD Alagappan Thenappan and Siliguri MFD Prabin Agarwal independently manage monthly SIP flows of over Rs. 1 crore. Throughout their business journey of over 15 years, these MFDs followed three business mantras that helped them to create a solid SIP book.
Intrigued to know more, Cafemutual spoke to them and decoded their mantras.
Here is what worked for these successful MFDs.
Alagappan Thenappan
SIP Accounts: 2,000 plus | Live SIP Amount: Rs. 1.10 crore plus | SIP AUM: Close to Rs. 41 crore
Mantra 1 – Stay in touch with at least 3 existing clients every day
I call at least 3 existing clients every day. This strengthens our bond and helps me uncover their changing needs and requirements. A simple change in life event like job change and birth of a child opens scope for new investment.
Mantra 2 - Reach out to clients proactively during market volatility
Many clients get worried during volatile markets. In such situations, I proactively reach out to clients and guide them through the choppy market. I reemphasize the benefits of rupee cost averaging through SIPs, staying disciplined and having a long-term approach.
Mantra 3 - Give investors with some food for thought
I ask introspective questions like have you saved enough to fund your retirement days and can you reach your goal faster by simply increasing SIPs by 10%. These questions give clients some points to ponder upon and encourage them to start new investment.
Prabin Agarwal
SIP Accounts: 5,000 plus | Live SIP Amount: Rs. 2.50 crore plus | SIP AUM: Close to Rs. 150 crore
Mantra 1 – Create visibility
Writing articles, contributing to newspapers/portals and attending events can be helpful. Investors like to associate with an MFD/advisor who is respectable in the community. Also, they are more likely to give referrals if they find you a thought leader.
Mantra 2 - Learn and upskill
Polishing interpersonal skills is important as communication is an important part of client servicing. Also, as an entrepreneur, it is important to take interest in other areas like team building, marketing, etc. Reading informative books and watching videos are good sources of knowledge and can help you develop new skills.
Mantra 3 - Conduct SIP drive
Dedicating a day for SIPs to generate interest amongst investors. Conducting theme-based SIP drives makes it easier for investors to connect with mutual funds. Also, since a drive is scheduled on a certain date, it motivates them to make investment decisions within a certain time frame.
