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Continuing its track record of innovation in investor
education, Birla Sun Life Mutual Fund has launched a new initiative called Samruddhi
- where investor education is delivered in passenger trains
across the country.
Pehla Kadam - BSL AMC's joint initiative with CNBC, is a
year-long effort which includes extensive on-ground outreach initiatives as
well as weekly on air education
Nipun - the distributor training initiative of BSL AMC,
continues to create contemporary modules that are relevant to distributors.
Two new modules are now available: one that focuses on understanding credit
and credit opportunities products and the second that introduces distributors
to selling through story selling
Nipun has completed 100 CFGP sessions and has successfully
certified over 3600 IFAs as Chartered Financial Goal Planners. This however
is only the beginning of a much larger movement that Nipun is committed to.
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Samruddhi (Path to Prosperity):
Unique Journey to Wealth Creation
Last week, we flagged off an innovative new investor education
initiative, called Samruddhi, which as we know, means prosperity. Perhaps for
the first time in our industry, investor education is being delivered in
passenger trains! To begin with, two of the Shatabdi trains (Delhi-Chandigarh
and Delhi-Amritsar) have been chosen as pilots. Shatabdi trains are
reasonably short distance day journeys, which is an ideal format for us to
engage with passengers.
While they travel to their destination, Samruddhi will enable
them to being their financial journey as well, and arrive safely at a
destination that delivers Samruddhi - prosperity to them. The first
Samruddhi-loaded Shatabdi train was flagged off last week by our CEO, Mr.
Balasubramanian, along with Mr. Amit Pradhan , Regional Director , SEBI-
Northern Regional Office & other officials of SEBI.
We have launched a magazine called Samruddhi, which is placed
on all seats of the Shatabdi trains. Audio jingles are played in the trains,
to build interest in Samruddhi.
The magazine carries very diverse topics including financial
education, financial well-being, investor voice, value of financial advisors,
as well as non-financial aspects like healthy living, financial astrology and
so on.
Passengers are given a number to send an SMS to or to place a
missed call to, from where a call back will be arranged to address any
queries they have. On the first day of this pilot, around 2400 passengers
travelled on these two routes, and we have received a very encouraging
response from passengers.
This pilot will be extended in two ways - one is that it will
be rolled out to all Shatabdi trains across the country, and two, we intend
inviting IFAs from these locations to participate in this initiative. We have
already talked to IFAs of the origin & destination locations, who are
likely to travel on these trains. We propose to reserve a particular seat in
each train for an IFA, and let all passengers know that they can consult a
financial advisor on seat no xyz for any further clarifications they need to
undertake their journey towards their own samruddhi successfully.
Another angle to Samruddhi which we intend launching is to
have a fixed day of the week - say Thursdays - where we will set up a KYC
desk at each of the destination. Process of on-boarding and formalities of
KYC are being shared through the magazine. When passengers disembark at their
destination, if they are convinced that they need to start a journey with
mutual funds, the KYC desk will help them get on boarded.
Pehla Kadam - 360 degree financial literacy program in
association with CNBC
Pehla Kadam, a joint initiative between BSL AMC and CNBC,
which was launched on Aug 15th on Independence Day, by Mr. Jayant Sinha,
Union Minister of State for Finance. It is a yearlong initiative that covers
on ground as well as on air financial education. We have committed to 60
out-reach initiatives across the India, engaging with diverse investor
groups.
These include school & college students, young investors,
army personnel, homemakers, SME entrepreneurs and so on. These are typically hour
hour programs where we engage with these different groups on aspects of
personal finance that is relevant to them.
We also have an extensive rural financial literacy program in
place as part of Pehla Kadam - these are day long initiatives in rural areas,
where we teach village folk basics of personal finance.
Every weekend, on Saturdays and Sundays, CNBC airs a 2 hour
Pehla Kadam program between 12 & 2 pm, where we cover a classroom
session, we showcase one of the outreach programs and we also handle in-depth
Q & A on different aspects including saving and banking, mutual funds,
taxation etc.
BSL Nipun…!
As part of our ongoing efforts to create contemporary training
modules for our distribution partners, we have launched two new modules.
The first one focuses on understanding credit opportunities
and credit oriented products. The second one is a communications module which
focuses on selling through story telling.
I am also very happy to share with our distribution friends
that we have successfully completed 100 CFGP (Chartered Financial Goal
Planner) programs and have certified over 3600 IFAs as CFGPs. In a recent
distributor interaction, Birla Sun life MF CEO, Mr. A. Balasubramanian
remarked that this is only the beginning, and that his mission is to get to a
stage where we have 1 lakh IFAs who
are CFGP certified across the country! That's a mission and a challenge that
our team has taken up. The road is long and not always smooth, but I am
convinced that with focus and unstinted efforts, we will reach the
aspirational goal that Mr.Balasubramanian has articulated!
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Mr. K S Rao is Head (Investor Education & Distributor Development) at Birla Sun Life AMC
Src: Wealthforumezine.net
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