ES: Please tell us anything on your business or processes which you believe makes you stand out from the other IFAs in the industry? How has it helped you in making your business more successful?
Deepak: Being in the financial industry for the last 16 years, I have noticed that the biggest mistake we financial advisors make that is we classify our clients into ‘Class’ and ‘Mass’.
So firstly, I believe that every client of mine, whether he belongs to the HNI segment or the lower middle-class segment, requires proper financial planning. In fact, clients from the lower segment need more care and awareness in investment strategies. My clients range from big corporate houses to a roadside Chaiwala vendor, the CEO of a company to the office boy of that company. I treat them all equally in terms of financial planning and management.
Secondly, I generally try to market mutual funds in the B30 city segment, where I believe the awareness of mutual funds is yet to be reached. Though the scenario has drastically changed in the past couple of years. The knowledge and understanding of mutual funds are still needed. There need to be more awareness on mutual funds and the reason why “mutual funds Sahi hai”
ES: In the last Dhanteras SIP Login day, you had registered great success. Please tell us about what your strategy was and the activities you did to make the SIP Login Day successful.
Deepak: Diwali and Dhanteras are considered very auspicious days in Hindu families. It is believed that buying something precious in the form of gold and silver will bring prosperity to the family. The idea of Dhanteras SIP day was for the same reason, only to bring prosperity to your family by means of investment in mutual funds.
Few days before D Day, I conveyed the same message to all my clients and showed them the last 20 years return of investment in gold and silver vis-a-vis the return of a diversified mutual fund.
I was fortunate that my clients bought the idea and I was able to bag No.1 partner in the zone on that particular day
ES: Please tell us of your preferred method /strategy to promote SIP investments today which has been giving good results. Can you share any valuable suggestion /piece of advice to our Partners to be successful in promoting SIPs?
Deepak: As we know that we can't have a rainy season all year. We have to go through the dry season. So the idea is to be well prepared in advance for that dry phase. I generally focus on client acquisition on that particular of time no matter whether I get investments from them or not. I just focus that at least they have opened an Ewealth account with us. As I said earlier that I don’t differentiate my clients in terms of their financial status. So I acquire enough clients, open an Ewealth account for them and thereafter send them the videos and images from NJ Bizmall which focuses on benefits of SIP. I think NJ India invest is taking pretty good initiative promoting SIP. I along with my Branch Head organize various client meets where we educate them about the benefits of SIP. Our strategy is clear - open as much as Ewealth accounts as possible. By means of Ewealth account, I am able to cater services to my clients who reside even out of my city Kolkata. Otherwise, it would not be possible for me to get business from them through physical mode. So, the digitalization of the process has been really helpful to me and my clients.
ES: Lastly, please share any mantra or guiding philosophy or any personal habits that you follow in your life or business to be successful.
Deepak: The mantra is simple- hard work and perseverance. In our business perseverance is really required as the scenarios around us change frequently. Added to it client acquisition should be the major focus. Our joint MD Neeraj bhai conducted a session on client acquisition during last PBC held in Mumbai 2018 and I was thoroughly inspired by him. So, I follow the same funda and gather as much as clients as possible irrespective of the financial strata they belong to.