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Dear Friends,
It's been a momentous 3 years since we launched Think Big, a joint initiative between us - Reliance MF - and Wealth Forum. Think Big is a platform that encourages distributors like you to take your business to the next level by challenging the boundaries of what you think is possible, to think beyond what most do, to think differently from conventional wisdom.
When the going gets tough.....
Think Big was instituted in 2013 - a time when overall business environment was extremely tough. The macroeconomic conditions were challenging - High fiscal deficit, current account deficit, high inflation, high interest rates, domestic policy paralysis, impending elections in India and external factors like fear of US Fed tapering kept markets on the tenterhooks. There were also Regulatory headwinds to content with - 'Direct' had got introduced. There was apprehension in the entire Industry, including in the minds of the distribution fraternity, about how the new development will pan out, how it will impact the existing business models and how one should go about conducting business in the changed and challenging environment.
....the winners Think BIG
It was then that Reliance Mutual Fund and Wealth Forum decided to draw our partners' attention to the huge opportunities, away from only the challenges, instead. We launched Think Big having its foundations on 5 pillars, which we believe are the core requirements for our partners to first Think Big and eventually to make it big - Vision, Up-skill, Process & Technology, Team & Execution(click here to read more about the Think Big Pillars).
We instituted formal awards to identify, recognize and showcase success stories of distributors who have demonstrated these tenets of Think Big. The awards were distributed in the Annual Wealth Forum Conference. The following is the list of winners over the years.
List of Think Big Winners
Inspirational stories
The inspirational stories of our Think BIG winners are all chronicled here, for you to imbibe great insights from, and to guide you in your own growth journey.
Beyond the inspirational stories of our award winners, we have been bringing to you inspiring success stories from amongst yourselves who have embraced one or the above pillars to demonstrate the power of Think Big. Story of Pratik Patel who went on to build a SIP book of 2 Crs in a small town having a population of only 70,000, story of FinEdge Advisory, which in only the 3rd year of its setting up had already built up a successful financial planning firm having more than 31,000 fee paying clients from 220 cities across the country, to name a few such stories (click here to read all stories).
We also brought to you encouraging stories from beyond the Industry and achievements from our partner friends in fields besides mutual fund. Take the story of PramodSaraf of Swan Finance, Indore, for instance. He went on to take the idea of organizing a painting competition, building the brand in the process, to a different level altogether, creating a Guinness Record, bringing over 15,000 school children from across 175 schools under the same roof! The story of Balaji Wafers, who went on to build a 4000 Cr empire from a single tawa, a British plumber who single handedly changed the perception of his profession in his country, the story of an entrepreneur who withstood 1009 rejections before making it BIG and is today one of the globally best recognized fast food brands, and many more such inspiring, BIG stories.
Think BIG idea
Every year, we have also been advocating an over-arching Think BIG theme that we believe holds large opportunities for our partners. I am happy to share with you that many of our partners have successfully embraced and have gained from these themes.
2013 - Retailing Debt. Since then, in the Industry: Retail Debt monthly inflows have grown 3x
Debt SIPs have grown 3x
The number of active IFAs who are retailing debt have grown 10x
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2014 - Leveraging Technology. Since then, in the Industry:
Online and Digital transactions have emerged on a large scale Penetration of Digital transactions have grown 3x
Monthly online transactions have increased 4x
More than 1000 partners are now offering transaction platforms
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2015 - Retirement Planning. Since then, in the Industry:
1 Lac accounts have been opened in less than a year
Average tenure for retirement planning is a huge 26 years
Committed inflow of Rs. 10,000 Crs towards retirement planning
So, what is the next Think BIGtheme?
We know that the future of the IFA profession lies in expanding the product suite to offer a full service proposition to your clients. But is there something more that you can aspire to become? Can you take BIG steps closer to becoming a Banker to your clients?
Watch this space for more details....
Content is created by Wealth Forum and must not be construed as an opinion by Reliance Mutual Fund.
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