Mr. Peddi Raja Mouli, Hyderabad
A Retired Class- I Govt. Officer from GOI - Mr. Peddi Raja Mouli - who when was in service used to give advice and support to his office colleagues on the their investments and personal finance related matter. This is his interest only that made him to choose and take a decision (to convert his interest into the business ) to become a financial advisor with a noble vision to empower every individual with financial knowledge & a mission is to help every individual to achieve financial goals.
Team e-Saathi respects the zeal, enthusiasm & passion of Mr. Peddi Raja Mouli that he decided to become an entrepreneur at an age when most of the people chose to take rest from their work. We wish all the very best to him and his clients.
ES: Please introduce yourself and also share your vision and mission or goals in life.
Answer: I am Peddi Rajamouli, a retired class-I officer from Government of India. I started MF distribution in the middle of year 2007, with NJ at the age of 63 years. My vision is to empower the clients with financial knowledge and my mission is to help individuals to achieve financial goals.
ES: What inspired you to choose the career of a financial advisor / distributor?
Answer: While in service, my colleagues and friends used to take advise from me on their personal finance. I also developed interest in the subject. Once I came across an RM of NJ and he explained the business opportunities as NJ Partner and empaneled as a partner, after which entire team of NJ has been instrumental in motivating/inspiring me from time to time.
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?
Answer: In the beginning it was very tough to get a SIP of Rs 1000 from individuals because of individual incomes and ignorance about the benefits of SIP. Now the situation is different and getting a SIP of Rs 10000 to 20000 from an individual is easy. My children are in stock broking with a leading broking house for nearly 25 years, serving more than 1000 satisfied clients. This background helped me to start and improve MF business.
ES:Client communications is an integral part of your business. Please share any best practices / services related to communications adopted by you.
Answer: We always keep in touch with clients by making personal visit at least once in 6 months and with a phone call once in 2 months. We make sure to speak to our clients particularly when the markets are bearish and sentiments are weak.
ES:How do you educate and convince your clients for mutual funds, especially the first time investors?
Answer: We explain the clients various investment options available. Explain them about safety, liquidity and yield with facts and figures. We always suggest equity mutual fund for clients with investment horizon of more than 5 years.
ES:Your experience with NJ's technology initiatives in terms of various Desks for Clients & Partners ?
Answer: Our experience with NJ Partner Desk and Client Desk has been awesome. Partner desk is a very good tool to analyse our business and prepare strategies to increase the business. Clients are very happy with various reports available.
ES: What advantages do you feel NJ E-Wealth A/c offers to both Clients and Partners?
Answer: E-Wealth A/c increases the ease of doing business. Once the client opens E-Wealth A/c, he can do all MF transactions in just a click. It increased our volumes.
ES: What type of a boss / leader do you see yourself as? What is the image of the ideal boss that you aspire to become?
Answer: I would like to see myself as a Model Financial Advisor giving advice in all aspects of personal finance. I always place Client's interest first.
ES:How do you assess /see the future of financial advisory business in India? How can we as Partners be ready / prepared to make the most of it?
Answer: I see the financial advisory business has just begun. In advanced countries close to 65% of households invest in equities, whereas in India only 3% of households invest in equity. There is a long way to go and all financial advisors who work in client's interest will surely grow.
ES:Self evaluation and assessment is something we all should do regularly. How do you assess your own self and/or your business? Are there any specific parameters you refer to?
Answer: Keep the long term goal, like my goal is to achieve 100 cr. AUM by 2020. We break this long term goal to monthly targets. We regularly measure our performance with the set goals. Frequent self evaluation helps us to reach our goal.
ES:How much importance do you give to Asset Allocation & Risk Profile while offering solution to clients need ?
Answer: Risk profiling is the primary activity we do for any client. Risk profiling helps us to understand the risk appetite of a person. It also helps to create asset allocation. We prefer to do re-balancing once a year or when markets change. This process helps us to retain the clients for long term and achieve their goals. When we keep the interest of the client first and sincerely help them to meet their financial goals, the trust automatically builds.
ES: What suggestion / advice you would like to give to new Partners who have yet not established themselves in the business?
Answer: Have conviction in the business. Acquire knowledge, upgrade yourself about the latest developments in the industry. Keep the clients interest first. These are my few suggestions to new partners to excel in this business.
{s}
[[script type="text/javascript"]]
$(document).ready(function(){
new DiscussionBoard("divDiscussionBoard", "404", "http://www.njwebnest.in/esaathi/index.php/discussion").load();
});
[[/script]]
{/s}