Meet Mr. Rajendra Dhulla, Mumbai
Meet Mr. Rajendra Dhulla one of our earliest Partners in Mumbai. Mr. Rajendra has been in financial services business since last 26 years and runs the firm Pratham Services in Mulund, Mumbai. A thorough professional and a visionary, it comes as no surprise that the company's vision is to have HAPPY Families & reach a AUM target of Rs.1,000 crores by 2020.
We wish our best for Pratham Services and are also glad to bring this interview to our readers...
What made you to join NJ as NJ Partner ?
I had a Chance to meet Jignesh Desai in 2000, due to their software made by Finlogic & found it great but I did not feel it was worth buying the same at that time.
In 2003 I got a call from NJ reminding me about my interest in their software & how they have made it more useful to IFA`s like me. A single thought came to me – it was good to grow with Leaders & A company who remembers a small IFA after 2 years also was obviously going to be a leader of the Industry. This was the only consideration which made me join leaders Neeraj Choksi & Jignesh Desai.
Do you promote the idea of savings through MF SIP in your clients?
Accumulation by way of small installments is the most easy and comfortable way for people to Invest & we Indians have had the peer support & culture of savings and hence SIP is the basic idea which we have & we still recommend our clients.
NJ has been offering BizMall services to Partners. What has been your experience and how has BizMall benefited your business?
NJ idea as a one stop back office service provider catering to all IFA needs has been an awesome support. Bizmall has been very good to us because they have relieved us of all the tough processes of Creating ideas, data collection related to the same, designing brochures etc.. which are not our core strengths. So we can focus plain vanilla on business & grow better.
How much importance do you give to Insurance in you advisory practice and what are the products that you are focusing on?
Insurance is one product in the whole Advisory practice. It is a requirement of each & every family. The Financial cost of Insurance has to be paid today by the family or tomorrow also by the family, but planning the same will reduce the pain of the same.
On the product side, we recommend majorly Term in Life Insurance. We are also very focused on Wealth preservation of families by planning their Mediclaim, Critical Illness, Disability insurance etc...
What is the key challenge faced by you and how do you handle it?
The Key challenge is time. And the only solution is perseverance.
Please tell us your approach to selecting mutual fund schemes for your clients.
I follow a simple procedure of looking at the research with NJ gives & recommend funds. One strong philosophy is that over a period of time all funds will be winners & the margin of winning cannot be predicted today.
Your view on Real Estate as an investment.
I do not believe in Residential Real Estate in Metros as an Investment. We feel land is better as an Investment if someone is ready to deal with the challenges which come along with the same. Rental yield if it is more that and 6 - 8 % than probably the property is worth looking at otherwise it is just a feel good factor.
What advantages do you feel TADA offers to both Clients and Partners?
Phenomenal Advantage. Life becomes simple. Time is the most precious commodity for Clients & partners & TADA is a child which has reduced the time required to almost negligible in the investment process from buying to selling & more. There is nothing to beat the same.
Also the transparency of the dealing helps build rapport & trust amongst clients.
What do you think differentiates you from the other financial advisors on the streets?
Our Empathy, perseverance & knowledge is what differentiates us from others.
Your clients have placed good trust & faith in Pratham Services. Do you have any recipe for the same?
Accept Mistakes & be truthful & Honest. Very simple things to follow & implement.
Please share any business targets that you may have set.
By March 2016, we intend to reach 600 TADA accounts. By August 2018, we want to have 1,000 TADA & 250 Cr AAUM with at least 250 MARS by August 2018. And by year 2020, we want to have a total AuM of Rs.1,000 Crores.
What suggestion would you give to NJ Partners to strengthen their business?
I would suggest that they meet & talk to as much people as possible & do good for them. The world is waiting for good advisors.
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