Pankaj Babu Agarwal transitioned from a high-paying CA career to build a Rs. 400 crore mutual fund distribution business. He grew rapidly through corporate tax help desks, converting employees into clients and building a strong referral network. Focusing on mass affluent clients, he emphasizes tax efficiency, disciplined equity investing, and long-term wealth creation, with strong support from NJ Wealth’s platform and guidance.

Original article published on Mar 23, 2026 in Cafe Mutual
(https://cafemutual.com/news/industry/37286-this-nj-wealth-partner-sets-up-tax-savings-help-desks-in-corporates-to-win-clients)

Pankaj Babu Agarwal Founder of "Walnut Trading and Services" started his career as a Chartered Accountant. Agarwal initially invested his own money in equity mutual funds and gradually developed a strong interest in the field.

By 2007, he was earning Rs. 24 lakh a year in a corporate job but decided to leave and begin his journey in mutual fund distribution with NJ Wealth, with strong support from his wife.

Interestingly, in his very first year, he matched his corporate income by acquiring a large number of clients through tax-savings help desks, where he shared tips on saving taxes and investing wisely.

His first clients came through past relationships, including senior corporate leaders and professional networks. Through a school friend, he entered Coca-Cola and set up a tax help desk for employees during the tax declaration and filing season.

As a result, many employees approached his team for tax filing and discussions naturally moved to investment guidance.

From Coca-Cola, he went on to set up tax-savings help desks at Hindustan Unilever, Britannia, Red Bull, telecom companies, and other organisations.

Each satisfied client referred him to another. Over time, this corporate network became a strong and loyal client base. Today, his entire business is referral-driven.

Serving the mass affluent segment

Pankaj focuses on salaried individuals who are mass affluent such as senior executives and corporate leaders who value tax efficiency, transparency, liquidity and structured wealth building. Their main concerns include tax optimisation, net worth tracking, need-based investing and wealth preservation.

He conducts annual or semi-annual net worth reviews so clients can clearly see their financial progress. “Many people are interested in knowing how much money they have currently. Hence, I conduct periodic review meets on net worth to apprise them about their financial health. This helped me in strengthening relationships and seeking more business.”

Advice to fellow and new distributors

His advice is simple. Stay committed to equity with conviction. He believes equity participation in India is still low and there is a huge opportunity ahead. If distributors educate more people and guide them properly, everyone benefits.

For new distributors worried about slow growth in the first few years, he says patience is key. Just like parents invest many years in raising a child, this profession also needs time. Once momentum builds, growth becomes fast and powerful.

Role of NJ Wealth

Pankaj says this journey would not have been possible without NJ Wealth. His association with NJ started in 2007 and he was impressed by their transparency, structure, and technology. Today, he has about 1400 clients and facilitates around Rs. 400 crore in mutual funds, with a monthly SIP book of about Rs. 2.25 crore.

NJ provided a strong transaction and monitoring platform, research support, meetings with fund house leaders, business guidance and leadership exposure.

Through NJ, he has met industry leaders and expanded his vision. According to him, NJ did not just provide a platform, it gave him confidence and direction for growth.