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: Organisation Context –
Birla Sunlife Asset Management Company is one of the early entrants into the market with a 15 year history of Asset Management in India. It is a joint venture between the Aditya Birla Group and the Sun Life Financial Services Inc. of Canada.
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 recent 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