Ms. Jignya Jigar Vaid, Mumbai - Dadar
Ms. Jignya Vaid (M.Com with Economics) used to have passion for Painting since her childhood. To pursuing her career in the field of interest – painting – after completion of her graduation in commerce field, she did post graduation in Textile Designing. After completion of her post graduation she chose teaching as a profession and successfully served more then 4 colleges for the subject - Textile & Product Designing.
The defining moment came into her life to start with the advisory business – a business which is too much far from the teaching subject of textile designing - when her husband suggested her to start MF advisory business. Being an commerce graduate understanding MF was not that difficult task for her and she decided to go for MF. She also saw an opportunity into the business because she already had experienced very low literacy for investment products among the people she used to meet. Later in her advisory profession she joined NJ as a Partner. Jignya is completely satisfied with her new profession and She Is Enjoying Educating And Advising Clients for Wealth Creation And Being A Reason To Bring Financial Security Into There Lives.
Team e-Saathi presents an Interview of a Lady from Mumbai who decided to gave up a profession of her interest and became successful in Investment Advisory business. We wish all luck to Ms. Jignya Vaid for all future endevours.
ES: Please introduce yourself.
Jignya: Myself Jignya Jigar Vaid. I did M.COM in economics. From childhood painting was my passion. After M.com. I did diploma in Textile designing at Rachna sansad. I was teaching faculty for textile designing in 4 Mumbai based colleges. After marriage my husband inspired to continue with my profession and fortunately I got a job at B.D.Somani College as a head in Textile & Product designing. After my kids born I joined as a partner with one designing studio near to my place. In 2008 my husband started his own firm as equity advisor, he suggested me to start Mutual fund division by my own. When I was doing M.com.,finance was always my favorite subject. But here after many years of painting profession it was very difficult task for me to entire in to new field. Finally I accept that challenge.
ES: What inspired you to choose the career of a financial advisor?
Jignya: In my carrier I worked with many teachers, workers, shopkeepers and I found that they don’t have any awareness about investments. This inspired me to start new venture by which I can educate them on wealth creation and strengthen their financial security.
ES: Setting the financial advisory business takes some time. How did you handle the challenges on the financial front in the initial period of the business?
Jignya: I started Mutual fund advisory in August 2008 which was a recession period. During that period investors were not in a mood for any new investment. I was new in this field, so it was a challenging job for me to win their trust and confidence . But within 8-10 months slowly things got settled.
ES:What made you to join NJ as NJ Partner ?
Jignya: One of my friend is NJ Partner. When I passed my AMFI exam he suggested me to join NJ. I met Mr.Devang Kukadiya of Dadar branch. I was very impressed with NJ’s user friendly technology, guidance on business start up, which leads me to join NJ.
ES: Do you promote the idea of savings through MF SIP in your clients?
Jignya: Yes certainly. It is Magic Mantra.
SIP : Invest a little every month and secure your future.
ES:Please share any best practices / services related to client communications adopted by you.
Jignya: First in the morning I greet my clients on their birthday. Twice in a month sends them health related tips and any good investment article by email. 1ST week of every month we are sending valuation report. Every day we make a point to talk to at least 8-10 clients. We are frequently using NJ’s Biz mall products and of course all time favorite MCS images and video.
ES:How do you educate and convince your clients for mutual funds?
Jignya: For me first meeting with client is always without any expectation of any business from him. I concentrate on one thing that he should understand the product, importance of saving, need of financial security thoroughly. It is very important to win his trust. Once you achieve it, your 90% work got done. NJ GAP is a best instrument to make them understand an importance of savings.
ES:Your experience with NJ's technology initiatives?
Jignya: Nj’s technology is very superior in industry. Client and partner’s desk is very much user friendly. New CRM is an awesome application, by which we organized our work in a systematic way.
ES: What advantages do you feel E-Wealth Account offers to both Clients and Partners?
Jignya: It is an EXTRAORDINARY initiative. Life becomes hassle free. E-Wealth Account is a smarter, easier, quicker and transparent way of investment. It is a win-win initiative for both client and advisor.
ES: Please share with us any standards / best practices related to client segmentation. If yes, also share any differentiation made in service offerings to these client segments.
Jignya: Once you grow and have good number of clients than segmentation is very necessary. We too have segments like Gold, Silver, and Platinum as per AUM. We have dedicated relationship manager for each segment.
ES: How much importance do you give to Asset Allocation & Risk Profile while offering solution to clients need?
Jignya: These two parameters are very important, in fact I think mutual fund advisory base is depends on this two. While making client’s portfolio we certainly keep in mind this two parameters.
ES: Winning the trust of a Client is not an easy task. How do you think you can win the trust of the Clients?
Jignya: We believe in good relationship, honesty, understanding and communication. These four master keys help us in building client’s trust.
ES: Can you please share your targets for your business.
Jignya: Right now I and my team are putting our best efforts to achieve SIP book of Rs.1cr and AUM of Rs.100cr.
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