Mr. Sachin Shetty
SRS Wealth Management - Mumbai
Mr. Shetty born in Mangalore, studied and brought up in Mumbai, he completed his graduation in Commerce from Rizvi Colledge Mumbai. He is in the field of financial products distribution for last 19 years and successfully servicing 2000+ clients.
1. Please introduce yourself and share a brief on your business today.
Answer: My name is Sachin R Shetty. I was born in Mangalore but brought up and completed my studies in Mumbai. I have completed my graduation in Commerce from Rizvi College, Mumbai in the year 2000.
I am the founder of SRS Wealth Management and have been in this field of financial products distribution and services for the past 19 years. Presently I am managing around 2,400 clients and have an AUM of Rs.136 Crores.
2. How is your experience of NJ LAS Term loan platform? Please share inputs on ease and operational convenience.
Answer: I have found the LAS Term loan platform as very flexible and quick. It was quite impressive to see that the loan amount was credited in just two working days. The customer care too is awesome.
I must say that the power and the operational ease of the platform have given me much confidence today to promote this in my clientele.
3. Tell us how you present, pitch or promote the LAS to your customers.
Answer: I believe that one of our major roles as a financial guide to the investors is to stop redemptions, especially if it is not for some legitimate or sound purpose or a financial goal. As an expert, it is our responsibility to provide the alternatives and options to the client so that his long term wealth creation journey is not interrupted. This is also in the best interests of the business.
As a practice what we do is that when a client approaches us for redemption, we update him on the alternative option of LAS and also educate him on the need to continue investments. Simply put, we try and replace redemption with LAS. I am very happy to share that we have a very healthy conversion ratio of over 50% based on our experience.
4. How has NJ LAS Term loans helped you in your business? Can you share any particular case example?
Answer: As I said, we have seen LAS replace redemptions in over 50% of the cases where we have pitched the same. NJ LAS truly has been of great help to our business as it has protected our client portfolio and also our AUM. It has helped our profitability directly as instead of losing money I am now benefiting with LAS.
I would like to share one experience with my friends. One of my clients needed Rs.8 lakhs from his portfolio for his son's plans for US education. Obviously, the client wanted to redeem the amount. When we informed him about LAS he was very happy to know that we could provide this option to him. He happily took a LAS of Rs. 8 lakhs instead of redeeming the money. Today his son has started working part-time in the US and his father told him to start a SIP from his first salary itself and told him that it was me who helped him gather funds for sending you to the US for his Masters and that I am very particular about wealth creation. More than the business, this is the real-life impact we can make in our client's lives that gives me the real motivation and some lovely memories.
5. What advice would you give to Partners who are yet to start work on NJ LAS?
Answer: I would suggest that Partners to start thinking first. Realize that often the client requires the money for a short term requirement. Why should you break his long term wealth creation journey for same? LAS provides us with the required amount without breaking the investment. The client can very easily can conveniently pay the LAS loan amount through EMI as per his chosen tenure.
It is simply a win-win situation for the client and also for you. I strongly recommend that all NJ Partners you must always inform their clients about the LAS option whenever they get a redemption request. It not only saves our AUM but also makes the client disciplined and stay committed for his long-term goals while his assets are protected.