Mr. Sagar Maheshwari, Hyderabad
Q1. You joined your father's business, continuing the legacy. How did you begin - by directly meeting clients or gradually easing into it?
Answer : I started working with my father in 2017, during a time when all his existing clients were transitioning from physical mutual fund investments to the demat mode. I saw this as an opportunity to connect with them and assist in the process. The transition was gradual - I first familiarized myself with the operational aspects of opening and using a demat account before introducing clients to it. While it provided an easy way to meet clients (as we all know how challenging it is to retain long-term clients), it also came with the challenge of addressing their concerns about demat accounts, mandates, POA, and other related aspects. This hands-on experience gave me valuable insight into the field I was stepping into.
Q2. You use our tools extensively. Which one is your favorite and why?
Answer : My favorite tool on NJ's platform is the Family Needs Utility. It has been instrumental in helping me guide my clients toward understanding the significance of equity and debt mutual fund investments. Once they realize that this investment vehicle can support them in achieving their major financial needs, their perspective on the product shifts significantly.
Q3. Having spent 6-7 years in this business, what advice would you give to new aspirants?
Answer : Don't rush to secure your first HNI client. First, take the time to thoroughly understand the products and services you offer, as this will allow you to be more creative in client meetings. Prioritize solving clients' financial challenges, and if they don't have any, guide them in managing their money more effectively. Maintain both a medium and long-term vision for your growth in this field.
Q4. How has your experience as an MF distributor shaped your perspective on money and investments?
Answer : Being a mutual fund distributor has significantly broadened my perspective on money. Interacting with people from diverse backgrounds, mindsets, and financial situations exposes you to a wealth of knowledge beyond what most individuals experience. Personally, mutual funds have become an integral part of my wealth management - I use liquid, debt, and equity funds to meet different personal financial needs.
Q5. During your meetings and reviews with NJ, what topics are typically discussed?
Answer : My meetings with NJ are highly focused on identifying areas that will help me grow from my current position. The discussions generally revolve around investment and insurance-related aspects that may have been overlooked. They provide a well-balanced approach, offering guidance tailored to my business's current state and strategies to scale it significantly.
Q6. How have investors evolved over the years, and what are their expectations today?
Answer : The approach of investors has changed drastically from when I onboarded my first client to the most recent one. Earlier, I had to explain my role, the benefits of mutual funds, and how they align with financial needs before moving on to investment strategies. Today, investors come with a clear understanding of why they are in the meeting, so my role has shifted to helping them optimize product usage and enhance their financial health. However, one expectation has remained unchanged: "Invest where the returns are highest" and "Minimize negative returns." Over time, every distributor develops their own way of addressing these demands.
Q7. What are your plans for expanding your client base over the next 3-5 years?
Answer : My goal is to acquire at least 1,000 clients within the next three years. After that, I plan to expand my team by hiring more staff for sales, operations, and other key areas, ensuring consistent year-on-year growth at a significant scale.
Q8. Who is your inspiration or hero, and why?
Answer : In terms of risk-taking, my biggest inspiration is my father. I admire how he handles crisis situations - an essential skill for any businessman. Additionally, I am a strong believer in sustainable business models and have great respect for how the Tata Group operated under Mr. Ratan Tata's leadership. I aspire to build something of similar scale and impact in the future.
Q9. What is the size of your team or how many employees do you have?
Answer : Currently, our team consists of three employees handling different aspects of operational work.