Amit Gadoya, is the founder of Heet Investment, a financial services company which was started in 2007. Based in the city of Gondal, Gujarat, Gadoya entered the business of mutual fund distribution in 2005. Initially, he used to invest for personal gain or recommend mutual fund schemes to family or friends, running a cutlery shop at the time.
Gradually, he began recommending mutual fund schemes to his customers as well. This is how he first started building a client base from his cutlery shop. Today, his company has assets under management worth more than ` 220 crore and a monthly SIP book of more than ` 180 lakh.
When asked about his inspiration to enter the mutual fund distribution business in 2005, Gadoya has a unique family history and experience to share.
“My mother, Kalaben Gadoya, 73, was actively associated with the stock markets in 1980s. Also, from a very early age, I used to accompany my father or uncle when they used to meet the clients for any share market dealings in Gondal.”
Thus, having familial roots in financial business encouraged Gadoya to think of starting a similar line of business. Today, his company deals in a variety of financial products including mutual funds and general insurance.
However, the road to success was not so easy. Gadoya shares how initially when he used to meet any clients and tell them that he was a mutual fund distributor, they used to think that he was an insurance agent.
“Financial awareness was extremely low and mutual funds were also not so popular.”
This did not deter Gadoya as he believed that as an MFD, it is his duty to build awareness among the people of his town and beyond.
Gadoya now provides services to over 3,000 clients spread across Gujarat and has a 5-member team to efficiently manage all the workload.
When talking about the keys to becoming successful in the business, that his company's tagline 'Trust is our trademark' sums it up quite well.
During the first meeting itself, a client will try to judge if you are providing proper advice. If he is able to trust you in the first meeting, then the client will definitely come again.
When dealing with new clients, Gadoya makes sure to meet them at least for an hour and explain how investments in various financial instruments work.
He also shared a specific story of a client who wanted to invest ` 60 lakh and had a personal loan of ` 10 lakh yet to be repaid. Gadoya recommended him to invest only ` 50 lakh and to first repay the loan amount so that it can be beneficial to the client in both ways.
“I believe that giving proper advice without thinking about the commission to be earned will lead to sustained growth in the business.”
Talking about the importance of SIP, Gadoya shared that investing in SIP is the most reliable way to ensure benefit to the customers.
“Last year on Diwali, we held a campaign of 'yeh Diwali SIP wali' and successfully completed 112 SIPs in a single day.”
According the Gadoya, the best thing that has happened over his whole career span is the development of online means to invest.
“When I started, even though I tried my best, I could not meet more than four clients in a day but today, we can do everything online and that helps us to connect with more people from different places. I feel this is why there is so much scope in this business at present.”
One of the achievements that Gadoya considers to be a milestone of his career is having built a corporate house in the town of Gondal around a year and a half back.
“I never aimed for a small office space. Having started my business from my cutlery shop, I always wanted to build a proper office building with all facilities required for businesses and I realized my dream in 2020,” he shared rejoicingly.
His future goals for his business are to set up more commercial office buildings in Rajkot and Jetpur in Gujarat.
“I believe, 'to become rich, make others rich', I want my family, my team and my clients to benefit from my growth as well.”
Founded in 2007 by Amit Gadoya, Heet Investment is a premier financial services firm based in Gondal, Gujarat. Built on a family legacy of market expertise dating back to the 1980s,
Iconic Era, 4th floor, Palace road, Gondal,360311 Gujarat
