Relationship Manager - Retail Sales IFA - Bangalore

Job Purpose

Responsible for managing a team of premier IFA’s and achievement of the sales target expected from those set of distributors.
To ensure attainment of maximum market share from these set of IFA’s

Job Context & Major Challenges

Job Context:

Retail is an equally important arm of the MF business as compared to institutional. It helps the AMC garner equity assets, which is the most profitable asset in this business. It also helps in increasing the reach and penetration of various products across various geographies. There are multiple channels involved in this set up; namely – IFA, ND, PCG & Banking. Retail expansion is another critical parameter for success in increasing reach. Apart from generating sales from existing PoS, creating new PoS to increase distribution base is an important element of the retail business.
IFA stands for Independent Financial Advisor. This channel is unique compared to all the other distribution channels since every IFA has his own independent thought process and there is no top down push that an RM can rely upon unlike other channels. Hence, there is a different challenge as it is primarily the relationship of the RM, which will lead to increased market share with the IFA.

Key challenges –

1.Activation – One of the most important aspects of the IFA channel is to increase activation of the PoS i.e. maximum PoS selling our product. With every Relationship Manager managing a large number of relationships, to be able to reach out to them and to ensure that they remain consistently active with us is a challenge.
2.High Market Share – Creating top of the mind recall in the minds of the IFA is another important challenge in this role. With the presence of over 35 players in the industry, we need to have a high recall, which will lead to enhanced market share.
3.Training & Updation – To update the IFAs is a challenge in itself. Market dynamics keep changing on a daily basis and it is equally important to update the advisors frequently.
4.Practices adopted by competition – To be able to sell your products in an environment where stiff competition forces market players to adopt various pricing and incentive strategies, which we may not be able to match.
5.Service issues – Ensuring that all service related issues of IFAs and their investors are sorted out with a quick TAT. Servicing is a very critical aspect of the relationship and if issues are not sorted out in adequate time, it may lead to relationship turning sour with the IFA.

Key Result Areas

KRA (Accountabilities) (Max 1325 Characters)Supporting Actions (Max 1325 Characters)KRA1To achieve the allocated equity and debt sales target1)Profiling of the IFAs and targeting them accordingly.
2)Ensuring timely communication of information and personally meeting them periodically.KRA2To achieve the allocated PMS sales target1)Identify IFAs who have the requisite clientele for PMS and create awareness about our schemes and their performance among those distributors.
2)Accompany them on joint calls to meet their clients.KRA3To achieve the targeted number of new SIPs1)Focus on the unique offering in this segment to maximise sales.
2)To communicate and educate the distributors about its advantages and potential as a tool for wealth creationKRA4To ensure that the targeted number of new investors (folios) is added1)Ensuring that maximum existing investors of all IFAs are investing with us.
2)To support IFAs in new initiatives to help them increase their client base.KRA5To ensure maximum POS activisation1)To ensure widespread participation from all IFAs and monitor these numbers on a regular basis.
2)To conduct regular presentations and training sessions on a large scale to help increase participation