Ms. Jigna A Shah
Anand - Gujarat
Ms. Jigna Shah - A Lady who hails from the milk capital of the India - Anand (Gujarat) had cultivated dreams of becoming an entrepreneur since her childhood. She started her career as a school teacher after completion of B.Sc. Home Science. Later she shifted to work in the insurance industry and finally into the full fledge financial advisory business.
The defining moment came into her life when she went to pay a premium for her two wheeler in nearest branch of United India Insurance Co. The branch manager gave her a proposal to join the company as an Agent. She started thinking on the proposal; with the initial hiccups in taking decision and after discussion with her husband she took a life changing decision to join UIIC as an agent. She said the decision was very difficult as she was about to approach a work area which was totally new to her and she is about to leave a profession in which she was doing good. (She said, Motivation from her husband and his belief in her has made all difference. He asked her to accept this as a challenge and grab it as an opportunity). Also the helping nature was remain a reason for her to chose a career in the field of insurance.
"Struggle always remains a part of every Success Story" - The same is true in the case of Ms. Shah. In the beginning of the business she had to move to the new location (Anand City) as a part of her husband's relocation plan. She struggled like anything when she started off as an Agent. But this was just a beginning for her, as more is yet to come - The biggest setback in her carrier. When she was at the peak of the carrier, she met an accident. This accident made her to go through multiple surgeries in the period of last seven years. She continued her work from the bed. All these problems have never made her down.
Team e-Saathi with immense proud presents an interview of a Lady who did not leave the field even though passed through many problems while establishing the business and is still here on the path of creating wealth for her clients. We also appreciate her efforts that she is putting up in the direction of bringing financial awareness among women Investors.
ES:Please introduce yourself.
Answer: After completion of graduation in B.Sc. Home science, I started my carrier as a school teacher. From my childhood days I was an ambition of doing my own business, which creates my own identity. I was also inclined towards helping people in different ways.
ES:What inspired you to choose the career of a financial advisor / distributor?
Answer: We know that opportunity always knocks the door in everyone's life in any form. I still remember the days, when I used to travel around the city on my Moped (Luna). After my marriage, One day I went to UIIC office to pay a premium for my moped. I don't know why but the branch manager suddenly asked me a question (A question that has changed my life dramatically) - why don't you join us as an Agent / Advisor?
I started thinking about his proposal and talked to my husband about the same. At that time, I was not at all aware about insurance or finance field. Initially, I felt apprehensive as it was totally new area for me and also no one from my family/relative was associated with this field. However my husband motivated me to accept this as a challenge and convinced me to shift to this profession. Finally I joined UIIC as an advisor in the year of 2002 and this is how I took a first step in the field of financial advisory.
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: During the initial stage, I had to settle in Anand due to my husband's job. Here, I had to start my carrier from ZERO as I don't have much contact. I started canvassing Health Insurance to my neighborurs and their references etc. and soon the result started coming-in positively. Later In the process, I realize the need of adding life Insurance in my product boutique, so I started LIC advisory in the year 2003.
ES: What made you to join NJ as NJ Partner ?
Answer: I must thanks to NJ's Anand branch Manger Mr. Manish Gadhvi, (who is presently Zonal Sales Head for Mumbai, Andra Pradesh and Tamil Nadu) for encouraging me to start MF advisory with NJ. With his guidance & support, I cleared my AMFI Exam and start Mutual Fund Advisory business in the year 2006.
ES:Do you promote the idea of savings through MF SIP in your clients?
Answer:
"The best thing about SIPs is that they take emotions out of the investing decision"
One can't time the market every time on his own.I promote the SIP idea by focusing on Triple P benefit which SIP offers: Power of compounding, Power of averaging & Peace of mind.I always sell SIP linked with GOAL, be it retirement, child marriage or higher education.
ES : We heard that you have done remarkable job in educating and bringing financial literacy among women. Say something about it.
Answer: Being lady advisor, I felt that financial literacy among both working & non working women is very low. In most of cases, women don't have any role/idea about investments done by their husband. Even working lady also remains dependent on the advice of male member(s) of the family for Investment decisions. I always prefer to conclude client's investment/insurance deals in the presence of spouse so as to promote her involvement in financial matter of the family.
Going ahead I am planning to organise a meet in association with DSP Blackrock MF on the agenda of promoting & bringing Financial Literacy among women.
ES: Client communications is an integral part of your business. Please share any best practices / services related to communications adopted by you.
Answer: I use various mode of communications like sending personalise email/SMS containing birthday wishes useful articles related to finance/ insurance etc. to tap potential clients. I do use social media like facebook, Whatsup to share MCS video/images & also update the MCS Video/Images on my website www.shrijinvestment.com regularly. Message & themes of MCS video is crystal clear and easy to understand & helped in creating my own brand name.
Beside this, every month I am dispatching courier containing LIC/GIC policy premium due reminders/ Mutual fund valuation reports, MCS leaflets etc which helps me to stay connected with clients. I also conduct client's meets regularly wherein I invites official from AMC/Insurance company & NJ to share their knowledge and update on the latest happening in the industry.
ES:How much importance do you give to Insurance in you advisory practice?
Answer: Beside Mutual Funds, NJ has helped me in taking my insurance advisory business to new heights. "SAMPOORNA SUREKSHA" concept is one of the unique products in my product basket, which is not available with other Advisors. I also give focus on Personal Accident & Term Insurance.
ES: How do you educate and convince your clients for mutual funds, especially the first time investors?
Answer: When a new investor approaches us for investments in Mutual fund, first of all I understand his/her existing investment pattern, risk taking ability and future goals. I explain them pro / cons of investing in mutual funds vs. traditional investment products such as Bank FD/PPF/MIS etc. I make them aware about the various products offered by mutual funds and suggest the plan which suits best as per their requirement.
ES : What advantages do you feel TADA offers to both Clients and Partners?
Answer: On behalf of all NJ's partners, I must thankful to Shri Niraj bhai, Shri Jignesh bhai & entire NJ team for developing this user friendly, simple & hi-tech technological platform of E-Wealth, which no-other competitors has offered. Since last one year, for all new clients I open E-Wealth account & than after carry out purchases & SIP through E-wealth account. E-Wealth A/c's has changed the way of my working & saved lot of time in filing the forms, collecting the cheques from clients & most importantly it has removed geographical barrier of doing business by bringing entire world in our reach.
I am regularly conducting clients meeting specially for E-wealth A/c holder to show live demo n benefit. I get new inflow of Rs. 45-50 lac through E-wealth A/c during recent downfall.
Other Advantage of E-wealth account is activation of online equity platform Now-online, which I am using for direct investment in shares.
ES: Can you share any incident /event which has had a lasting impact on you or your business as a financial advisor /distributor?
Answer: Up & down is part of life & challenge is to face it. I could not forget the day when I met with accident due to slippage of two wheeler. It had ruined my carrier, when it was at peak. Doctors advised me to take complete bed rest for year. It was very difficult period for me & my husband, who always support and give courage to fight in that situation. I was managing office from bed & keeping myself busy in my work. I went through multiple surgeries in last seven years.
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: In India, Penetration of Mutual Fund & Mutual Fund Advisors is very low. Only 9% of household saving is invested in Mutual Funds. I see ample opportunity for both new entrant as well as existing partners as more n more people preferred investing in mutual fund due to reducing interest rates on Bank FDs as well as traditional investment products like PPF/MIS/NSC/SCSS etc. In addition to this, Tax Free returns, liquidity, transparency, lower expense ratio and professional management, etc are the benefits offered by Mutual Funds only.
ES: How much importance do you give to Asset Allocation & Risk Profile while offering solution to clients need?
Answer: I suggest dynamic assets allocation portfolios of MARS as per risk profile according to the client's needs. Through MARS, Assets allocation and rebalancing is done based on market movement which helps in preserving gain on investment.
ES: Winning the trust of a Client is not an easy task. How do you think you can win the trust of the Clients?
Answer: I always believed in Customer's first approach, advice which suits them most. Dedication towards work, providing regular services/advice, understanding their need & giving solution to it, in depth knowledge of product & regular communication etc are values adopted by me to win client's trust.
ES: What suggestion / advice you would like to give to new Partners who have yet not established themselves in the business?
Answer: According to me, Patience, ready to accept regulatory changes, continuous updation of knowledge, adaptation of technology for faster communication etc. It will helps in creating new partner's own identity. In short term you may see uncertainty due to changes happening in industry. Going ahead, there is an ample opportunity for dedicated advisors.
ES: Can you please share your short term and long term targets for your business.
Answer: My vision for this year is to set up my own full-fledged office and putting efforts on achieving Rs.50 cr AUM & Rs.50 Lac SIP book by 2020.
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