From running his practice under the brand ‘Pooranmal Pradeep Kumar’ to thinking up new ideas, Pradeep Kumar Jain of Ranchi is constantly experimenting, finds Jayshree Pyasi
The Man
A mechanical engineering graduate and MBA (Finance), Pradeep Kumar Jain today stands out in the advisory community. However, his foray in financial advisory business came by chance.
Soon after his post graduation Pradeep was interested in setting up an industry of his own. But with recessionary conditions prevailing then, times were tough and arranging finance was an even tougher task.
Pradeep’s entrepreneurial dream got a new life when a national savings officer motivated him to get into financial planning. Being a finance post graduate, Pradeep understood the nuances of the sector which worked well for him in the town of Ranchi where no financial advisor was catering to the needs of professionals. Very soon, he was able to build a clientele among the salaried class and his business shot up. And what started as the second available option became a dream come true as he began to understand the merits of financial planning as a profession.
Pradeep’s core area of focus is MFs, postal savings and insurance. His mutual fund AUM is 50 crore, most of it on the equity side. In keeping with the times, Pradeep promoted SIPs heavily in 2010 with each month SIP inflow being worth 50 lakh. “SIPs not only ensured that the client remained calm even in the midst of heavy market fluctuation but also generated a six crore AUM for me,” says Pradeep.
His marketing mantra
Pradeep ensures his marketing techniques are unique and keeps evolving new ones to match changing scenario. “I scan good articles on mutual funds and send them to my clients. After reading those articles, clients get the basic understanding of the trends of the industry and can understand their portfolios better. I also SMS my clients about funds that are performing well,” says Pradeep.
Pradeep’s next goal is to double his AUM in a year’s time. To help him reach his target, Pradeep has decided to focus on liquid funds. “To expand my business, I am persuading small and medium enterprises (SME) to invest in short-term debt category. These are people who have money in their savings accounts on which the bank is giving them a minimal interest,” explains Pradeep.
In this, he is seeking partnership with banks to transfer the money of these SMEs and invest into liquid debt fund schemes. He is also encouraging them to set aside some money in liquid reserve by which these businesses will gain long term MF exposure.
Building Brand
“To build a brand, merely servicing a client is not enough. With good service, an advisor should also have a presence in media so that he is acknowledged as a brand,” says Pradeep.
Pradeep wants ‘Pooranmal Pradeep Kumar’ to be known as a brand and is continuously working towards reaching that goal. He is actively involved in social work through Federation of Jharkhand Chamber of Commerce and Industries where he served as Secretary and Vice President. This gave him a big exposure in society with a chance to meet the President of India and many other state and country level personalities. He is member to 18 organisations and clubs.
“For a good image amongst the society an advisor should come across as a person willing to share knowledge,” says Pradeep. Pradeep shares his knowledge by getting together with advisors and AMC officials to discuss trends and problems that plague the industry.