Caller: Hello Mr. Subra…may I come to see you?
Me: Sure..what is it regarding
Caller: a mutual fund NFO
Me: You know my stand…why are you even THINKING of coming…?
Caller: No sir need a favor…
The caller is a small time mutual fund and other financial products distributor who does some general insurance, life insurance, and some miscellaneous work. Since I know him for about 12-15 years, and he does some odd work for me, this conversation went so far.
So he came and said “I need all the 5 names and 5 cheques from your house – Rs. 1000 each in an NFO.
Me: No way how I am investing in one nfo with 5 applications of Rs. 1k…not worthwhile. It is painful to fill the form, issue the cheque, keep track of the application number,….too painful.
He said: Sir I have taken a target at the highest slab. I am getting Rs. 750 per application – this is more than enough to set off the loss that you will make in case there is loss on listing. You need to just sign, my software has all the details and can print out the form – and since you are Kyc compliant, there is nothing to be attached. So Sir, please 5 cheques, 10 signatures…and I will make Rs. 7000….really nothing to lose for you!! 🙂
Another successful Mutual fund sales call had been closed. Everybody is happy….so let us all be happy!
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