How this MFD acquire clients through informal meets
Hemal Sheth turned his passion for equity investing into a successful MFD business, managing Rs. 160 crore AUM with 800+ clients in just six years. He grew through personal networking, small-group interactions, and social media engagement. By focusing on need-based and step-up SIPs, along with consistent client communication, he strengthened his SIP book. NJ Wealth's tools and support played a key role in scaling his business and improving client service.
Original article published on Dec 15, 2025 in Cafe Mutual
(https://cafemutual.com/news/tarraki/36502-how-this-mfd-acquire-clients-through-informal-meets)
Hemal Sheth was passionate about equity investing even before becoming an MFD. After spending some time in his father's paper manufacturing business, he decided to turn his passion into his profession. Today, six years later, he is a successful MFD with about Rs.160 crore in AUM, over 800 clients, and an impressive SIP book of about Rs.1.3 crore.
In his conversation with Cafemutual, Hemal spoke about his distribution journey, the role of NJ Wealth in his growth and his approach to client acquisition and SIP book building.
Client Acquisition Strategy
Hemal says that in smaller cities, distributors often find many common connections everywhere they go. He built his client acquisition strategy around this insight.
He leveraged his connections across the city and began meeting prospective clients in informal settings. He specifically focused on engaging with working professionals in small groups at cafés, restaurants or tea stalls, where he educated them about investing and addressed their queries.
He also connected with relatives and friends during social gatherings using a similar approach. Additionally, with support from NJ, he distributed flyers about his distribution business across the city. Over time, these efforts helped him build a sizeable client base.
SIP Book Building
Hemal uses need-based SIPs and step-up SIPs to strengthen his SIP book. He believes that linking an investment to a specific need makes it easier for an MFD to request a step-up from the client.
He also keeps track of the SIP amount relative to a client's income and encourages clients to increase their SIPs as their income rises.
He closely monitors major events such as the Union Budget, geopolitical conflicts and market corrections to identify opportunities for clients to step up their SIP investments.
Client Retention
For client retention, Hemal shares the latest industry updates with his clients via WhatsApp at least twice a week and conducts personalized meetings.
He also uses social media platforms like Instagram, where he posts short explainer videos offering personal finance mantras, explaining financial products and addressing common concerns about mutual funds. In addition, he carries out essential operational tasks—such as periodic portfolio reviews—to ensure clients' investments remain aligned with their needs.
Role of NJ Wealth
Hemal says that tools provided by NJ Wealth—such as the mobile app and website—help his business stay at par with industry standards. He finds tools like e-Wealth particularly helpful for serving clients outside his city without paperwork. He also uses financial calculators and need-assesment tools for client discussions.
He adds that the easy access to loans against mutual funds on the NJ platform helps him address clients' liquidity needs without redeeming their MF portfolios.
Hemal appreciates the consistent support provided by NJ Wealth throughout his distribution journey and acknowledges their assistance in coordinating with AMCs.
Advice for MFDs
Hemal concludes by advising MFDs to meet as many prospective clients as possible to grow their business. He recommends that distributors remain active on social media platforms and encourages MFDs in B30 cities to set ambitious AUM targets.