In a non-metro market like Goa, Hari Kamat has scaled a huge milestone by crossing 1000cr in AuM. He serves over 5000 clients with a 6 member operations and service team and remains the sole advisor/guide/coach for his clients.
His son-in-law joined the firm and is now responsible for the Margao operations while his son is being gradually inducted into the Panjim branch.
Keep finding opportunities for engagement, control your redemptions and delegate all service and operations tasks: these are the three mantras Kamat has built his practice around. While most MFDs see every new operational / compliance requirement as a headache, Kamat sees it as another opportunity to engage with his clients.
He says his only work is to talk to clients. No writing, no operations or service follow up – only client engagement. He believes lack of delegation is one of the biggest stumbling blocks that is preventing many more MFDs from scaling high.
Kamat is pained to see the younger crop of MFDs’ lack of enthusiasm in continuous learning. If I can still attend seminars and webinars and learn every day at this age, why can’t the youngsters show that dedication and quest for knowledge, he asks.
Kamat believes youngsters must have patience and conviction in the long term model of the MFD profession. Don’t all professions require you to work for few years on a modest stipend before you can gain sufficient knowledge to command higher income, he asks. Become an MFD, commit to the first3-5 years of learning on a modest income and then see how your income multiplies when you attain sufficient critical mass of AuM – that’s his advice to younger MFDs.