Share broking to mutual funds

• Haresh Shah
• March 13th, 2020
• Ahmedabad
• 1958
• 1

• 2

Our Company name is Care Wealth. Basically, We are share broker and doing broking business since last 25 years. After 2008 stock market crash. We wanted another source of income and at that time We decided to start Mutual Fund advisory business. At that time there was upfront brokerage of 2% by way of entry load.

We started our business on 08-08-08 but after that SEBI decided to remove entry load and so up front revenue become zero. However, very soon we realised that mutual fund is a great tool for investors to create wealth. We studied a lot about mutual funds industry and its products. So, when other IFAs started to leave this business, We decided to go ahead. Clients used to lose money every day in the stock market and so our first goal was to be help them in wealth creation, starting with a minimum of 300 families (100 clients, 100 relatives and 100 friends). During this period we read “Mutual Fund Handbook for IFAs”- by Mr.Brijesh Dalmia which became very useful in our journey of wealth creation for client as well as for us. Today we have more than 500 happy families and numbers is going up every day.

Today, my AUM is more than 50 crore and my SIP/ STP book is 80 lacs. Our next goal is 200 crore AUM in 3 years and 2 crore SIP book.

2

1