04 Dec 2017
It is important to hold clients for long term to benefit from them. It takes a lot of time to acquire a client and so it is crucial that they stay. It is best to get new clients in the system who have never invested in mutual funds. The rule is – if you do the KYC of the client, you can expect them to stay longer with you as the factor of loyalty comes in play. The initial hand-holding is the key. This happens in most of the cases. If you get clients by poaching, it won’t work in the long term as the same client is vulnerable to go elsewhere too. This business is about making new clients and sticking with them over decades to reap the benefits.