Mr. Sourav Mukherjee, Kolkata

Mr. Sourav Mukherjee had clear inclination towards the word BUSINESS from his childhood but he never thought of becoming an advisor. He started his career in Network Marketing Business and also took a job with this business with a reason to see a smile on her mother's face. He believe that fortunately the Network Marketing Business became a Game Changer for him. To start with in the field of Financial services He took an LIC agency and after spending 6-7 years he roped into MF advisory when he received a letter from NJ Kolkata Branch for opportunity to become MF Advisor. Sourav believes that hurdles are part of life and business and he is running his business with an attitude that can be described with this single line: BORN TO RULE in WEALTH SOLUTION.

Team e-Saathi presents an interview of a person whose name (Sourav) itself says a lot about him and who wants to do something for nation, like we had an all time great captain of Indian cricket team – Mr. Sourav Ganguly from the city of joy – Kolkata.

ES: Please introduce yourself and also share your vision and mission or goals in life.
Sourav: Myself Sourav Mukherjee from Kolkata. I started my Insurance (only Life Insurance from LIC of India) advisory business in the year 2000 April 10th while doing my graduation in 2nd year. After graduation I started expanding my portfolio one by one stated with general insurance, share broking, corporate F.D etc. Later on I created my company Sun Financial with mission and vision i.e. BORN TO RULE in WEALTH SOLUTION with 2 Principal:-

"What is good to our client will bring good to us.
What is not good to our client will not bring good to us"

"What we get out of our client is irrelevant.
What he/she gets out of us is our predominate concern"

ES: What inspired you to choose the career of a financial advisor / distributor?
Sourav: Frankly speaking, from the days of childhood i had an inclination towards being a businssmen and a business though i did not have any understanding about the word - BUSINESS. But starting an advisory business was took place like a drama.

Actually one of my friend while doing 1st year of graduation offered me a part time business opportunity in network marketing in Oriflame with glittering future. (in those days networking marketing was a new concept). I accepted his proposal and joined with him.

Naturally to expand my network business i used to look for references and by doing this practice i got a reference of one gentleman with details like "He is highly successfull in his field". I contacted him, took appointment and went to meet him at his home. After completion of few formalities he told me that "he is selling product in lakhs and taking money against just a paper only !"

Then I asked him what line of business you are doing? I came to know that his working as a LIC Agent with a capacity of Zonal Manager club member. He said that it’s an easy business proposal for him and he gave me time in the next month for the joining.

Again I followed up him after 30-35 days and when I met him he informed me that he joined the business with his friend before 2-3 weeks. Hearing that disappointmet spread on my face but had to accept that. We discussed further and he shared with me his last month business & networking team figures.

While returning to home(on my bicycle) I firmly decided that I will start LIC business.

This way I entered into the career of a financial advisor. After entering into as a financial advisor I started doing 2-3 plans mixing and delivering clients a new product like chief of a Hotel. Planning, product mixing, creating new ideas inspired me lots. When I reached clients home their warm welcome etc. inspired me today also.

ES: Say something about initial hiccups you faced in establishing the business?
Sourav: Yes, there were challanges when you start a business. But would like to share two which were last bit long with me in those days.

Challenge of Business Stablity considering my Age and lack of knowledge:
I started business after my graduation so i used to feel that clients used to see me with doubt about my stability. I believe my knowledge in financial advisory domain & also managing money at that age was altogether a challenging part for me. But you can prove yourself with times.

But today everything has changed. With my honest and integrated approach towards my clients and a passion from the bottom of my heart has helped me to overcome all these in acquiring clients and their confidence on me.

The other one I faced from my parents. It was about I did not have a job:
My mother felt highly embarrassed when someone come and ask her about me/my job. It was difficult to justify about the career in this field to them made me difficult to pass that phase. I faced the same for more than 3 years. Finally to bring happiness and a much needed satisfaction on my mom's face i decided to start a job. Strategically i decided to look for a job which can be helpful in expanding my business. I looked for a job in Forex Company.

I joined and make mom’s happy I took a plan which also help me to expand my portfolio also. The plan was to get a job in Forex Company. Finally I got it but not in Kolkata but in Bhubaneswar in LKP Forex (Presently know as Thomas Cook).

So if there is +ve will there is +ve way.

ES:What made you to join NJ as NJ Partner ?
Sourav: After 6–7 yrs. of doing Insurance business I started getting enquiries about MF & Equity Investments. For such enquiries I started giving business to one of my firned who was a also an LIC Agent. But providing support to clients for their queries and to provide them services related to their investments was became a difficult job for me.(Actually i learned a good lesson that in our profession the main post sale support is crucial rather than just selling the right product)

Finally I started looking inquiring about how to do business in MF and fortunately during that time period only I received a letter from NJ Main Branch(from Mr. Koushik Ghosh) regarding requirement of MF Advisors. I called him and he explained the NJ model and this way i joined NJ after completion of all formalities.

I was witnessing the growth in the tech support provided by NJ. Partner desk, client desk were evolving day by day which i can’t explain in words, only way is to use it, feel it and fall in love with it. Not only technological development but various type of financial products availability in single window with proper information helps a Financial Advisor to manage his business easily.

ES: Do you promote the idea of savings through MF SIP in your clients?
Sourav: The 1st and foremost reason of promoting the idea of saving through SIP is POMPOM i.e. plenty of money and peace of mind. SIP gives tension free deep sleep at night to both client and advior.

ES: How much importance do you give to Insurance in you advisory practice?
Sourav: A human body required protein, carbohydrate, fat and fibroids in proper ratio. The same thing happens in financial planning. Equity, debt and insurance is required in proper ratio while you do financial planning because equity remains a wealth creation product whereas insurance is a wealth protection product.

ES:How do you educate and convince your clients for mutual funds, especially the first time investors?
Sourav: When I meet first time MF investor I clearly inform and educate them that first you understand the product and then need of the product in your life. if it suits or fulfills your need then go for the same otherwise do not pursue it. Inflation, benefit of rupee cost averaging, power compounding etc. are few things which I discussed with my client not only on first time but also on regular basis. So that client can associate with the technology and its process and benefits.

ES:Your experience with NJ's technology initiatives and how you evaluate it ?
Sourav: I tried myself to keep open in adopting new opportunities, products and services. NJ technology is an opportunities and blessing which both clients and partner have to take benefit of it as much as they can take.

NJ Technology has changed my entire business dimension by providing highly accurate data on a single click. This has helped me to save time, labour and back office staff cost for data management and also in preparing various reports. Client’s servicing is a part & parcel of business which nj platform has made easy for financial advisors. I would say ...

Do Business, Think Business - use only NJ platform.
NJ partner desk hai to life jingalala !

About NJ E-Wealth Account:
Superb tool. NJ E-Wealth Account reduces the cost of investment & provides facility of error free transaction at anytime from anywhere. So i like to say by using NJ E-Wealth Account one can – Karlo sare MF transaction muthime !

ES: Share your business practices.
Sourav: Client segmentation:
I follow one practice of segmenting or say grouping clients in segment/group with an objective to serve them better, to provide proper attention and to do effective time management which eventually helps me to grow my business.

Client segmentation without hurting any client is highly required. Recently I did segmentation of clients considering Revenue Generation and Age factors. I created 4 segment(A to D) based on these 2 parameters. Now i plan to spend time and efforts behind clients is based on these segments only. It is helping me in managing time and to provided effective service to each segment of clients.

Business Assessment:
KPA (Key Performance Area) Review a is a tool/technique i use for the assessment of business growth and performance. On 1st of each month i do review of Business Parameters and based on it i plan and strategies my work for upcoming months inline to meet targets. This practice gives me an competitive advantage for better & effecient business management.

"If client service calls increase then we have to think on it and take necessary action
to reduce the same."

Asset Allocation & Risk Profile:
Very crucial thing. Without having proper understanding of these two parameters we can’t do financial planning properly. So we have to give 100% importance to both the parameters.

ES: Your views on Future of financial advisory business in India: Sourav: Very bright future. Advisory business is becoming though day by day due to regulators is coming out with new rules and changes in laws. But looking at it positively i can say that a good thing that going to happen for the industry is, short term or part time unprofessional advisors will thrown out of market and we will get bigger space to "Rule".

Any NJ partner should not be worried for it because NJ Management and the entire NJ team is there with us to think, we just have to keep faith and strong belief in them. For e.g. MARS is an initiative from NJ to protect our AUM erosion.

ES: Words of caution and advice for new comers:
Sourav: Don’t give up whatever the situation may arise or happen. It is same like a new born baby starts walking. When baby learn to start walking, we know they fall and stand up again and again. But at the end they collect the courage to stand up on their feet and starts walking perfectly. The initial stage of business is also like a baby. We have to take care of it like a mother till the time it grown up like a big tree.

"Hurdles are pillows of our knowledge which makes us strong, durable and
determined to achieve our dream and goal."

One need to have passion for the business with much needed patience. Do not lose focus while you are in growing stage of the business.

ES: Winning the trust of a Client is not an easy task. How do you think you can win the trust of the Clients?
Sourav:It is not an easy task to get client trust. To get this, its continuous process and process is to keep in touch with client on regular basis, working with honesty and confidence what we suggest for them is the best for their future need fulfilment. If any mistake happened due to us then we have to meet client face to face and accept our fault or mistake don’t keep ourselves away from the client to face the reality. Situation will became so cool and easy after face to face meeting.

ES: Your Business Targets.
Sourav: Becoming a top quartile or Platinum partner of NJ by 2020. But personally I want to do something good for the nation which in turn give a meaningful support to the future generation in coming years.

Mr. Arun G. Taula, Mumbai

Mr. Arun Taula a science graduate and a Certified Financial Planner comes from a family background where helping someone for Investment is taken as a passion and not just a business. However arun took a diff. path and decided to become a Medical Representative after completing his graduation. Arun's father(now a senior citizen) had a postal agency in his working days and arun used to help his father in his work. Arun has got an understanding on the subject of investments and related instruments since his childhood because he brought up in such an atmosphere. After working as Medical Representative for 3 Years with pharmaceutical company, he decided to pursue his career in the financial advisory field and started his investment advisory business. Today Arun has a rich experience of more than 24 Years in this field and have 1500+ satisfied customers. Arun carries an very interesting risk taking attitude and it can be a learning for everyone that first he himself try with the product(s) that he recommends to his clients.

With a pride Team e-Saathi presents an Interview of Mr.Arun Taula who started his career as a Medical Representative and later turned himself into a Successful Financial Advisor.

ES: Please introduce yourself.
Arun: Since last 24 years I am in this field of Financial /advisory services. I am a Certified Financial Planner since 2009. My vision is to educate and make people wealthy and healthy who are coming in contact with me by showing them my own portfolio.

ES: Any inspiration behind for choosing this noble profession ?
Arun: My parents were in the business of investments since 1988. I started working with them from the age of 18. They truly inspired me to join this profession.

ES:Setting the financial advisory business takes some time. How did you handle the challenges on the financial front in the initial period of the business?
Arun: Initially the volumes were very less. I regularly got in touch with my clients with some new ideas and information on the investments. And once the trust was built, people started giving more business and references. It took 24 years to build this good volume business.

ES:What made you to join NJ as NJ Partner ?
Arun: I liked the website of NJ and 'one stop shop' to deal with all types of investment products and their innovations in this field.

ES: Do you promote the idea of savings through MF SIP in your clients?
Arun: Yes of course. When I started my business of mutual fund in 2005, my concentration was only on SIPs . I had started with Rs.500 sip of my clients by explaining the concept of Power of Compounding.

ES:How do you remain in touch with your clients regularly ?
Arun: I send regular newsletter, MCS content and NJ brochures to my clients and also use WhatsApp to update and educate the clients. We also do Clients Meet on regular basis.

ES: How much importance do you give to Insurance in you advisory practice and how you manage first time investor ?
Arun: It is the base of Financial Planning so I start any ones financial planning with Sampoorna Suraksha concept. It is an integral part of Financial Planning.

Once we complete Sampoorna Suraksha, I ask my clients to set the goals and to achieve each and every goal. Depending on the time horizon, I recommend products of mutual fund. I also give them pros and cons of investing in mutual fund.

ES:Your experience with NJ's technology initiatives in terms of various Desks for Clients & Partners ?
Arun: I liked the website of NJ and 'one stop shop' to deal with all types of investment products and their innovations in this field. This is one of the best platform available in the market wherein client can login easily and get the day to day updates available. Because of this platform I got many references also.

ES: What advantages do you feel NJ E-Wealth Account offers to both Clients and Partners?
Arun:
To Partner: Time saving, no paper work, easy accessibility anywhere in the world.
To Client: By just click of a button client can invest, no documents required. Once E-Wealth A/c is opened, client can invest whenever he wants from anywhere in the world.

ES:Please share with us any standards / best practices related to client segmentation.
Arun: I am working on area segmentation preferably in my local area so that I can give them best services any time at their doorstep.

ES:How do you assess /see the future of financial advisory business in India? How can we as Partners be ready / prepared to make the most of it?
Arun: Future seems to be very bright. My wife Jyothi Taula is also a partner with NJ. We are also planning to bring our next generation into this business. Now we are making ourselves ready to do 'Fee based financial planning.'

ES: How do you keep yourself updated with latest happening in the industry and how you acquire knowledge ?
Arun: I go for regular trainings, attending meetings at NJ and other places and keep myself updated.

ES:How much importance do you give to Asset Allocation & Risk Profile while offering solution to clients need ?
Arun: Asset Allocation is must and one should do it regularly at least once in a year.

ES: How do you think you can win the trust of the Clients?
Arun: For me the best way is this.
"I always prefer to have my own investments & covers (Insurance).
I show my clients my insurance & investment portfolio and then ask them to do it. In this way I try to win the trust."

ES: Would like to give any suggestion/advice to new Partners who are new to this business ?
Arun: Keep on doing the good work. Results will surely follow.

ES: Can you please share your short term and long term targets for your business.
Arun: To reach 100 Crores mark by March 2016 and 1 Crore premium book for insurance by March 2016.

Mr. K A Somashekara Rao, Bangalore

Mr. K A Rao – a commerce graduate was very passionate for Taxation subject during his graduation. After completion of graduation he decided to start his career in the area of his interest and started his own Tax Consultation Firm. As a part of work and a very common requirement of most of his clients during the tax filing season, he used to look for various options for Tax saving for his clients. When came to know about ELSS option offered by MF he used to advise his clients for investment in ELSS to save tax. After getting conviction for investment in ELSS, interest started building for MF and that interest only made him to start with Financial Advisory Business. He joined NJ as a Partner and took a new journey along with his Tax Consultation business. The Interesting Part in his journey is about his SIP book. His conviction for SIP – as a tool for long term wealth creation can be seen easily with the sparkling numbers in his SIP book. 3 years back his SIP book was standing at around 3-3.5 Lac which has now crossed a magic figure of 50 Lac. This achievement has not come just with having conviction for SIP but also one goal that he carries has made a major difference and that is - "Min. One SIP Per Client".

We are glad to presents an interview of a Tax Consultant who later became a Financial Advisor and looking forward to do wonders with his SIP Book. Team e-Saathi wishes Mr. Rao and his clients all the very best with a hope that each client become SIPiant !!

ES: Please introduce yourself and also share your vision and mission or goals in life.
Mr. Rao: I am Somashekara Rao, I have been working as a Tax Consultant since 1993 in Bangalore and also working as a IFA since 2007. "TO DO THE BEST & TO GIVE THE BEST"is my motto in life.

Maths always remains a favorite subject from the days of schooling and at the time of joining college opted for Commerce line. As a commerce student I had always an inclination towards Taxation part and that interest later turned into my profession. I started my Tax Consultancy firm in the year 1993.

ES: What inspired you to choose the career of a financial advisor / distributor?
Mr. Rao: As I was Tax consultant becoming financial advisor was by chance and self inspired. I always search for the new opportunities and work for it.

Advising & suggesting for tax saving is a very common job of a tax professional especially for Salaried class. ELSS is the product that I found as a best bet among many and most of the time I suggested this product.. After getting basic level of understanding about working of Mutual Fund I decided to start with Financial advisory. I got acquainted with MF in less time as already serving clients for ELSS. The concept of SIP I liked the most for long term wealth creation.

I had heard about NJ and its business model. I approached NJ's Bangalore team and joined NJ as a Partner in 2007. I liked the NJ's service offering and the concept of one stop shop for all financial needs.

ES:How did you handle the challenges in the starting phase of advisory ?
Mr. Rao: Struggling is a part of any profession. My uncle B.V. Krishnamurthy Retd RBI AGM. always filled a positive thought in me. He used to say this line to me "work hard, get knowledge, don’t be lazy and don’t expect returns it will comes its way". This helped me a lot to face all odds throughout this journey.

ES: Do you promote the idea of savings through MF SIP in your clients?
Mr. Rao: Yes, First I have started for tax savings scheme and later on, other product also to create wealth in long term. Major part of my business I built through SIP only.

ES: How much importance do you give to Insurance in you advisory practice?
Mr. Rao: I believe that everybody should have an adequate insurance cover for various type of protections. I also suggests my clients to have a Term plan and Mediclaim as per their need. Everyone should have TERM INSURANCE PLAN as it is of greater importance to protect your family in case of sudden death of an earning member.

ES:How do you educate and convince your clients for mutual funds, especially the first time investors?
Mr. Rao: I start with explaining the fundamental of Investment with a various concepts. Also knowledge sharing about MF product is must for me to make them understand and convince about investment in any MF Scheme.

The most common understanding I give to first time investors is Comparison of taxation between FD and Mutual Fund. Most of the clients are well aware with the investment in FD but most of them lack with the understanding of Real Rate Of Return one get from investment in FD. This understanding works very well for many first timers.

I also show them Client desk – a best reporting tool from NJ for Clients and explain the importance of it. Now a days I also recommend for NJ E-Wealth Account because provides a win- win situation for both Partner and clients with underlying benefits of saving in Time and Cost

ES: Winning the trust of a Client is not an easy task. How do you think you can win the trust of the Clients?
Mr. Rao: The added advantage I have got from my profession as a Tax consultant is the "TRUST" that I have gained all these years. Serving client in the best possible way retains the trust.

ES: What suggestion / advice you would like to give to new Partners who have yet not established themselves in the business?
Mr. Rao: Failures are the stepping stone to success. Learn from your failures, be updated, work hard, give service to clients promptly.

ES: Can you please share your short term and long term targets for your business.

Mr. Rao: A SIP book of 1 crore by 2018

Gratitude is the memory of heart. My heartfelt thanks to Mr Yatheendra (RM) for his 24/7 support , special thanks to Mr Tushar B. (Zonal Manager) for always being with me till date in this wonderful journey And big thanks to NJ TEAM.

Mr. Makarand Vipat, Mass Investments, Pune

Mr. Makarand Vipat belongs to city often called an automobile hub of India – Pune. A Diploma Mechanical Engineer – Makarand was working with one of the renowned Automobile manufacturer – TATA Motors. Though he was working with a big name in the auto industry he never get a level of satisfaction that he wanted. He decided to left TATA Motors and started selling Mutual Fund under his company named: MASS Investments. Later Makarand joined hands with his two friends and started Precision Investment Services. They strongly believe in educating the customers and make them aware about the investment products and Hence their Client acquisition process start itself with free of cost seminars on investment products.

Team e-Saathi glad to share interview of Mr. Makarand Vipat who is chasing dream for 1000 Cr. AUM.

ES: Please introduce yourself and share vision and mission of your firm.
Makarand: Myself Makarand Anant Vipat, - MASS Investments. This is Partnership company having 3 partners. Myself, Mr. Kiran Jadhav & Ashish Kelkar. MASS Investment is sister company of Precision Investment Services. Our company’s vision is “To lead every individual towards financial security. And mission is "Educate individuals on wealth creation by empowering them with precise advice".

ES: What inspired you to choose the career of a financial advisor / distributor?
Makarand: I am regular investor in MF since 2001. I got decent returns on my investment. So thought of becoming financial advisor.

ES:What made you to join NJ as NJ Partner ?
Makarand: NJ is biggest MF distributor in India. When I passed out my AMFI exam, Nj Pune branch person contacted me & explained me the services of NJ which are quite impressive.NJ is one stop shop for advisors. Website & valuation report are quite user friendly.

ES: Do you promote the idea of savings through MF SIP in your clients?
Makarand: Yes. Offcourse. Actually SIP is the only way to create wealth creation for retirement.

ES:Client communications is an integral part of your business. Please share any best practices / services related to communications adopted by you.
Makarand: Normally I suggest clients to talk on mails. Replies to mails given within 24 hrs. Every day I talk at least 10 -15 clients.

ES:How do you educate and convince your clients for mutual funds, especially the first time investors?
Makarand: We conduct seminar on WEALTH CREATION once in month. Its 2 our free of cost seminar. Where we tell importance of MF & MF SIPs. Why one should start SIP? How MF works? Importance of investing in MF etc.

ES:Your experience with NJ's technology initiatives in terms of various Desks for Clients & Partners ?
Makarand: Its very fantastic experience with NJ. Recently launched Biz Mall Product - MCS videos has made our business very easy.

ES:How much importance do you give to Asset Allocation & Risk Profile while offering solution to clients need ?
Makarand: Yes. Asset allocation is very important aspect in Investments. This allocation is depend on the age of client. If the client is younger then he should allocate more savings to equity asset class. But at the same time he should prepare emergency funds as well. If he does provision of emergency fund then equity investment remain long term automatically.

ES: Winning the trust of a Client is not an easy task. How do you think you can win the trust of the Clients?
Makarand: Before answering this question would like to share we have dedicated team who take regular follow up to fix appointments with the prospects who were attendees in our seminars. This team works on the lead generated through seminars and other activities we do. We have strong back office and field support team to look after pre and post client acquisition activities and I believe that is our biggest strength apart from advice and regular monitoring of investments.

So before one become our client starting from educating them to give them suitable investment advice. Further transparency in business is the only way to win trust of client is what my view. Suggest what you speak.

ES: What suggestion / advice you would like to give to new Partners who have yet not established themselves in the business?
Makarand: According to me there is no other option for hard work if you want to establish in business. Think of your business 24*7. Speak to people. Invest in man power.

ES: Can you please share your short term and long term targets for your business.
Makarand: We have only one target and that is to achieve 1000 Cr AUM and we all are dedicatedly working for it.