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Laxmikant Dinkar Nemade
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March 12th, 2020
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Nagpur
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1849
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I am an Electronics Engineer, retired from Maharashtra State Electricity Board as Dy. Gen.Manager (IT). I had been a regular investor in mutual funds for more than 25 years. The passion / attraction about Mutual funds, coupled with the long experience and historical data collected by me about various mutual funds, prompted me to obtain ARN No. after retirement in 2014. Today, I am 62 yrs old.
In first year, I was not very active. But I could generate very good returns for the limited clients acquired during that year. Slowly, the clients were satisfied with my services & returns generated. They started introducing their family members and colleagues to me and the business started picking up.
As on day, I have more than 200 clients, almost 96% of them are registered for paperless transactions (on NSE platform). Total AUM is about Rs. 12.00 Cr. in more than 300 active folios. SIP Book is above 3.20 Lakh (about 120 SIP’s). Contrary to general trend, I have about 94.2% of my AUM in Lumpsum.
I am located at Nagpur, but I have clients spread in many metro locations like, Mumbai, Chennai, Delhi, Bengaluru, Pune as well as small places like Nashik, Jalgaon, Akola, Yavatmal etc.
In my opinion, my strong points are:
- Being a technocrat and that too connected with a very large IT setup for a long time, I am Techno-Savvy. I have subscribed to NSE Platform which has reduced down my Non-Productive legwork and also I can offer my services easily to clients who are very far away from my town.
- Initially I used Excel sheets coupled with small self developed software in ORACLE to keep track of my transactions. But as the volume started increasing, I have subscribed to some Software Tools.
- Today, my 99.99% transactions are paperless.
- Most of the IFA’s focus on 2-3 AMC’s only which helps them achieving success in contests But have to compromise on better funds. The Fund choice narrows down due to limited AMC’s. I try to offer “The Best fund of the Category”, because I have empanelled with 19 AMC’s. No doubt, this has kept me away from achieving success in contests. But I am satisfied, as long as I can offer best performing funds to my clients.
- In addition, I have provided most of my clients an APP on their mobile, to monitor the progress of their investment.
- Seniors say that an IFA should never spend more than half hour with any client call. But somehow, I have experienced, that the more time you spend with them, and the more information you pass on to them (of course not so much that they get confused), they develop a very good confidence. It will be surprising to note that this policy helped me becoming a Family Member, with most of the clients. And in result, I get all the members of their family as my clients. Some of the clients refer to me as Family Advisor (just like family Doctor etc.)
- I can show my own family portfolio, built up in last 25 years without redemption, to the prospective clients, which helps them see the rewards of long term investments. This too helps me a lot in getting new clients.
- Demographically, my client base includes a person as aged as 78 years and as young as 6 months.
- Now, from this year, I have planned to focus more on SIP’s.
I plan to work for at least 10 more years.
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