Mr. Apurva Shah, Regional Manager - South Gujarat
Apurva Shah is a Regional Manager for South Gujarat and based out in Surat. He has a rich experience of 11 years in the financial services industry. In the past, he has worked into different geographies like Vadodara for 2 years, Delhi NCR for 8 years and Surat for last 1 year.
I am sure the Partners associated with NJ are very well aware about the importance of the technology in our business. They have also experienced the real transformation in the technology offerings in all these years by NJ to not only Partners but also to clients by way of different tools.
Technology - Need of the hour...
Last year, Neeraj Sir shared a vision to our Partners to achieve Rs 500 Cr to Rs 1000 Cr AUM in next 5-10 years time. Many partners, with whom we are planning with, have started to act on this vision very seriously. And this leads to a strong need to brainstorm on this topic more as to how a Partner can scale his business with automation and apt use of technology.
Technology is certainly going to be a key if a Partner really wants to grow BIG in the business in the next 5-10 years. The success factor would be directly proportional to how early, effectively and explicitly does the Partner adopt the technology. Those who score on all the three counts are surely to grow even further than they can visualise today.
Traditional way to a transformational way.
NJ has been at the forefront of bringing innovation and business solutions that are meant for empowering the Partner and making him ready for the future. Both NJ E-Wealth Account and MARS are the initiatives in this direction that promise to entirely transform the business practices of the Partner – both in terms of advisory and operations, geography and customer service.
It's been more than 4 years we have launched NJ E-Wealth Account and also completed around 1.5 years for MARS. The Partners too have been very active in adopting these initiatives in their businesses. The fact that 35% last year business at NJ was routed through exchange is a testimony to the astuteness, nimbleness and foresight of our discerning Partners. Indeed the right start for a business transformation has been made.
But there is a long way to go, still. I believe we all should aim for 100% of our business to be routed through the NJ E-Wealth Account mode backed by active client participation in MARS. I know a few Partners myself who have stopped new clients in physical mode entirely and planning to migrate all their clients to NJ E-Wealth Account in a targeted period. I cannot but help imagining such a scenario where our Partners would be truly mobile, free of any operational worries and with unparalleled capacity to scale. In a world where most other businesses are turning truly online and digital, we will walk with confidence in our own business that it is ready for the business challenges and customer needs of the tomorrow. Isn't it something to work for. Something to focus on?
NJ E-Wealth Account Advantages:
Our Partners are well aware of the advantages of NJ E-Wealth Account and some may even swear by it. Among the most prominent advantages are the huge time & cost savings on one hand and better sales numbers on the other hand. The following are some of the other advantages with NJ E-Wealth Account...
- No Forms filling & submission – Avoiding huge number of physical transactions incl purchase, SIP-STP-SWP, redemptions, switches. Some of the partners did more than 2,000-5,000 transactions last year.
- Avoiding huge number of physical Non-financial transactions –
- Address change request
- Bank change, correction for a error in account statement like name, address, bank details, etc.
- Redemption dividend cheque revalidation
- Contact details updation
- Same client information across folios
- In physical transactions, many clients have multiple folios and it is seen that most of the information differ in different folios like address, nominee details, contact details, bank details, redemption payout mode, etc.
- In NJ E-Wealth Account, clients have same information across all investments.
Opening NJ E-Wealth Account Accounts:
Many old Partners feel that opening NJ E-Wealth Account of their existing clients (500-1,000-2,000) will be time consuming. But I believe that this effort pales in comparison to what one would have to do every time a transaction has to be done? A single physical transaction consumes huge time, effort in filling forms, submitting same to branch office and later attending to pre-sales & post-sales operational queries. For every present & future client converted into NJ E-Wealth Account, you have saved the future hassles & costs of physical transactions. What would be the value of such life long convenience? Multiply this value for every client you have. That is the value and the power of NJ E-Wealth Account.
Moving on to the NJ E-Wealth Account platform today in a time bound manner is important. It is the right time and in fact high time we do so. You should never underestimate your client thinking he/she is not technology savvy or literate enough for using NJ E-Wealth Account. Your client, in all probability, is already active on social media, shopping through mobile and being bold enough to try new things online. It is better secure your business through NJ E-Wealth Account before any other distributor/bank approaches him with this service.
Opening NJ E-Wealth Accounts can be much much faster if one decides. Partner can talk to 50 clients first and arrange their documents copies through what's app. Partner can make entries of 50 Eforms and get them approved. And then he/she can ask his runner boy to get the forms duly signed from the clients. 50 NJ E-Wealth Accounts every month can ensure partner opening 600 NJ E-Wealth Accounts in a year. A new Partner can start all his business paperless from day one to ensure better productivity and sales figures. I can foresee that in any situation, Partner will have to open NJ E-Wealth Accounts of all existing clients in 2-3 years time.
It is better that we embark on this journey of transformation from the traditional way as soon as we can. Let us login and go online.
Kholo NJ E-Wealth Account, Physical ko TATA.
Go NJ E-Wealth Account... Go paperless...
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