07 September 2016
Mr. Jay Bhatt
Anand – Gujarat.
Mr. Jay Bhatt – is a science graduate, who entered the financial services industry with an LIC agency in the year 2002. He joined NJ in 2004 and there after he never looked back. He believes that NJ is his second most trusted partner after his life partner – his wife. Jay is working on a mission to achieve Rs 100 Cr. AUM & Rs 2 Cr SIP book by 2020, accompanied with a very noble vision to bringing Real Financial Freedom in all his clients' lives.
Team e-Saathi proudly presents an interview with Mr. Jay Bhatt and wish him all the best for all his future endeavors.
ES: Please introduce yourself.
Jay: I joined NJ in September 2004 and presently have 600+ satisfied clients. I also have an LIC agency since 2002. My present AUM is Rs 16+ Cr. and my SIP input is Rs 22 lac monthly. I help clients to achieve their financial goals with effective and smart investment planning. I understand that clients are the back bone of our business so I keep clients' interests at the center. My mission is to achieve Rs. 100 Cr. AUM by 2020. And my vision is financial freedom for all my present and future clients.
Frankly speaking, I was not sincere when I took on this career, NJ taught me about mutual funds and I made a career in the mutual fund industry in the last 2 years. Now I am focused towards my career and I have a clear goal of Rs 100 Cr. AUM by 2020. NJ inspired me to adopt mutual funds.
ES: Setting the financial advisory business takes some time. How did you handle the challenges on the financial front in the initial period of your business?
Jay: I belong to a very small village Umreth of Dist. Anand, and in the initial days explaining Mutual Fund to clients was not at all easy for me. However, at the beginning of my career I had no negative experience with mutual funds so with fresh legs and full of confidence, I started selling funds with limited knowledge and I had built a sizeable AUM by 2008.
I sold NFO’s mostly because it was a bull market. But when markets crashed i realized that without knowing the client's Risk Appetite, you should not offer them any scheme especially equity schemes. So the time period around 2008 was slow in terms of business growth but made me strong and powerful to understand and the slow growth imparted me knowhow on how to pitch mutual funds as per client's needs.
ES: Do you promote the idea of savings through MF SIP?
Jay: SIP is the way to build big wealth . SIP is a miracle tool to achieve financial goals easily. There is no big strategy but I want to share my views with respect to SIP,
“GIVE Time To SIP, Don’t Go By Timing The Market”.
I focus a lot on SIPs and my every client has SIPs and would like to share a lesson to readers,
“It's Not Compulsory That You Have To Invest In Sip If You Are Wealthy, But If You Invest In Sip You Will Be Wealthy.”
ES: Please share your approach & practices for client communications.
Jay: I don’t do anything out of the box but I make sure that I regularly meet my clients. I send meaningful and informative massages on WhatsApp every morning so I reach all my clients once in the morning, especially during festival times, MCS videos and images are a very effective mode to convey information to multiple clients at a time. So I am a big admirer of MCS. I wish to thank the NJ MCS TEAM for their efforts.
ES: How much importance do you give to Insurance in you advisory practice?
Jay: INSURANCE IS A MUST FOR EVERY CITIZEN, since unwanted things can happen anytime in life, but I sell only term plans. I must say HEALTH INSURANCE comes first, and then life insurance(term plan).
ES: How do you educate and convince your clients about mutual funds, especially the first time investors?
Jay: I tell them about all investments products and instruments (PPF, FD, Gold,etc.) available in the market, explaining about their returns and Tax liabilities. The client gets a fair idea of the investment options and can easily understand that MF is the best option amongst all.
I tell every client that there are two enemies of your money one is TAX and second is INFLATION.
ES: Your experience with NJ's technology initiatives in terms of various Desks for Clients & Partners ?
Jay: NJ is working on behalf of its Partners and they think about us, so I blindly follow the NJ PHILOSOPHY.
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?
Jay: Neerajbhai & Jigneshbhai are my ideals. In 2005, they were on a trip to Malaysia and I was also traveling to Malaysia. Coincidently, we met and Neeraj Bhai gave me the vision and direction for a career in financial advisory space and opportunities for MF business in India. Believe me it that was a life changing moment for me!. Since then, this relationship with them built, both on a personal and professional level.
I must mention about Misbah Sir here, he always motivates me and provides all valuable advice to me whenever I ask for. My sincere regards to all.
ES: Can you share any incident /event which has had a lasting impact on you or your business as a financial advisor /distributor?
Jay: Neeraj Bhai’s advice to build a career in Mutual Fund business was the turning point for my business.
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?
Jay: I always keep track of business done in the previous year and analyse what went wrong and right? Where did I excel or fell behind? Based on such analysis, I plan for the future. And as we all know that experience is the best teacher.
ES: How much importance do you give to Asset Allocation & Risk Profiling while offering solutions to clients' needs ?
Jay: Asset allocation is a key part of investing and MARS is a good product which focuses on asset allocation. And as I said earlier, risk profiling is also a key part of investing so you should keep in mind these aspects while offering funds to your clients.
ES: Winning the trust of a Client is not an easy task. How do you think you can win the trust of Clients?
Jay: I personally handle 90% of my clients since the beginning of my business, so you can imagine the level of service. Client wants Privacy, Trust and Loyalty more than returns from the fund, so I follow these three words religiously.
ES: What suggestion / advice you would like to give to new Partners who have yet not established themselves in the business?
Jay: Mutual Fund business is a long term process, so if you are dedicated and patient, you have a bright future.
ES: Can you please share short term and long term targets for your business.
Jay: As a short term target, I want to achieve Rs. 25 Cr AUM and SIP book of Rs 25 lac+ by this FY end. And Long term goal is to mark Rs 100 Cr. AUM and Rs 2 Cr.+ SIP book Monthly by 2020.
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