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Gujarat model for MFD succession now available across IndiaDarshan Patel, Step Up Wealth, Anand

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Darshan quit his AMC sales job to join his partner in creating a unique Gujarat model for MFD succession.

They take over the ARN of MFDs who wish to retire with an agreement to share revenues over a 10 year period on a sliding scale from high to low share for the retiring MFD.

Their first deal with an Anand based MFD was 3 years ago when they took over assets of Rs. 40 cr. In 3 years, they have scaled this up to Rs.250 crs by actively engaging with existing clients to enhance wallet share, drive referrals from them to win new clients and also actively conduct IAPs to bring in new clients.

While the retiring Anand based MFD’s percentage share reduces each year, the absolute amount has remained the same as year 1, thanks to the active business development efforts of Step Up’s team.

Step Up has now opened offices in Vadodara and Surat besides Anand and is actively in discussions with MFDs in these cities for similar deals.

Darshan says they will tie up with only 1 MFD per city, to ensure that all business generated there - whether from the MFD’s existing clients or their referrals or from marketing activities accrues under the same code.

Darshan is open to discussions with MFDs from cities outside Gujarat as well. The key aspect they are looking for is MFDs who have remained active in recent years and now want to retire – versus MFDs who have not been active and engaging with their clients in recent years.

Darshan can be contacted at +91 97277 57598

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Comments Posted
Manubhai Raval ARN NO :0857 Baroda, 01 Jul 2024

Darshanbhai Better to understand details of agreement And how and long you will protect our interest

Shashikant ARN NO :86221 Hyderabad, 01 Jul 2024

Good concept,

Mohsin Bijepuri ARN NO :33913 Chennai, 30 Jun 2024

Sounds interesting. Informative interview.


Whats are my benefits with your systems plz

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