Zero to 300 Clients in 3 Years

• Ratnakar Sagare
• October 21st, 2021
• Pune
• 4823
• 21

I am Ratnakar R Sagare, working with an Indian multinational IT giant. I have around 17+ years of IT experience. 

My journey with mutual funds started as a hobby. Initially, I used to work more on the equity front for personal short-term trades using both technical and fundamental analysis. Quite often, I used to share my analysis with my colleagues and friends. 

Later, some of my colleagues suggested that I take it as a profession. Though it was on a lighter note, I thought of giving it a try. I started with an agency of an equity broking franchise and used to manage my trades and those of my colleagues. We had decent success. However, I wanted to expand my horizons and go beyond just equities. 

In Jun-2015, I got my ARN (individual) for mutual funds distribution. It was a transitioning phase from an active trader, to a calm mutual fund distributor. Due to a lack of experience in this field, the beginning was a bit shaky. As a part-timer, I used to work only on weekends and with limited knowledge and time. There was a gap of almost 8 months between my first and second mutual fund client.

Things started changing soon when my existing clients/colleagues referred me to their contacts and my clientele started to grow. I thought of having a Partnership Firm rather than working as an individual ARN to provide better service to my clients. On 1st April 2018, we registered the Our firm with the name “MONEY MAGNETS”.

I along with my better half, manage the firm and serve around 300+ clients today. We have a couple of support staff to help us. We are registered to BSE and our mode of operation is 100% online which not only saves us on logistics and back-office costs but also enables us to reach clients beyond geographies. 

The transparent working approach is the USP in our business. We not only keep utmost transparency and honesty while working with our clients but also educate them and make them aware of the various market conditions. During turbulent times (like Mar-Apr 2020), we handheld them and counselled them about the next course of action. This makes our bond with them even stronger than before.
 
We provide NPS, life and health insurance solutions as well, which help them to address financial protection; another important aspect of financial planning. We wish to be with our clients as a true companion in their “journey towards wealth creation”.

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