In the heart of Bhopal, amidst the busy streets & lakes, lived a man fueled by passion and driven by determination. Partho Chakraborty, the director of Concept Advisory, a promising Mutual Fund Distributor (MFD) with dreams as vast as the sky & never giving up attitude.
Back in 2010, Partho started with a hopeful 2 crore AUM. But things changed. His AUM numbers dropped drastically to a disheartening 42 crores from 75 crores in no time. Handling portfolios manually on Excel was tough, making him feel hopeless.
The Road To Nowhere
Those were dark & depressing days. His peers advised him to follow his passion to recover from mental stress. Listening to their advice, Partho embarked on a journey of self-discovery, following his passion through activities like riding a Hayabusa.
The Comeback
His life changed after May 2013 once he was introduced to REDVision Technologies which came as a blessing in his life.
“It is not just a technology platform; it is an empowering tool that transformed my approach to client & wealth management”, Said Partho.
With REDVision, Partho's efficiency skyrocketed. He could now:
- Automate tasks
- Track portfolios accurately
- Provide exceptional ongoing support
- Foster deeper client relationships
The results were phenomenal.
- Referrals poured in
- His reach expanded
- His AUM doubled every year after 2011.
The Verdict
Mr. Chakraborty believes that while MFDs possess deep industry knowledge, they can't compete with the convenience and online platforms offered by direct players.
However, by embracing automation and streamlining their client journeys, MFDs can bridge this gap and soar to new heights.
Apart from that, he thinks every MFD should invest at least 2-3% of their income in technology empowering them to;
- Compete effectively
- Deliver exceptional client service
- Achieve sustainable growth.
Remember, technology is not a magic bullet, but it's a powerful tool that can propel your MFD business to new heights. Take a page from Partho's inspiring story and embrace the future of financial services.
