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AUM – 700cr. Clients – 1000 families. Team: 1 man army
Sadashiv Phene, possibly one of the largest success stories in the single IFA model discusses his practice, offering certain key mantras he abides by to maintain his level of success. His large client base seems almost impossible to handle for one person but he explains he spends long hours from mornings to nights even on weekends meeting with clients in groups in their offices as well as their homes to ensure he’s constantly growing his client base through trustworthy referrals from his existing clients’ families and friends. He doesn’t have a fixed meeting date for all his clients as he explains that would be impossible to handle, but he stresses the fact that his clients always know he is one call away and that he will make time when they need him.
Discussing the changes he has brought about to his practice as a result of changing investor behaviour, he explains that the effect of media, especially social media on investors is unparalleled making them more impatient than ever. He explains to his clients that their portfolio is not like a bank account where you can constantly track your money but that you need to give it time to get your returns. He stresses the importance of Asset Allocation because the #1 expectation from his clients is to know their money is safe and to have funds accessible whenever they want. “Your investor should buy you, because then they will be with you forever”, he says.
Demonstrating value-add to a client has become a growing concern for most IFAs especially with the increased accessibility of information in the digital age. He highlights the importance of passion and conviction in decisions that will undoubtedly gain trust over time. He doesn’t get swayed by trends – whether it was the technology rise in 2007 or the gold craze in 2012 but sticks to what he thinks is right for his clients, even if it is unconventional.
When asked if he would ever consider having a team of advisors as his client base continues to grow, he says it would be quite challenging to replicate the passion and conviction he personally conveys to his clients which is what they most value, unless there is extensive training involved. Eventually, it is something he would consider doing, with his growing number of clients as he would like to “inspire a thousand Sadashivs”
He offers some sound advice to IFAs who dream BIG:
Well he has been an inspiration for us from 2003 since we first met him. Thank you Sadashiv Sir.
Its very nice to deal with thousand people. Its possible only through meeting &need base selling.
Sir ..It was really Amazing to see one man army managing such Large AUM and handling 1000 families .. You are really a Super IFA and I dont have words which can really praise your achievements ..
Inspirational for other IFAs. Keep it up Sadashiv.
Glad to know about how Sadashiv, One Man Army has successfully demonstrated managing his 1000 clients wealth for more than a decade now. His advice is very relevant and necessary for every IFA in MF industry. Thanks for sharing it.
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