Advisor Speak

Dr. Mrs. Alka Pramod Chitnis

How technology helped me in growing my business

She, is the daughter of a brilliant banker. After having completed her education, she got introduced with various people. Their life styles, their cultures influenced her and she learnt a lot from this experience.

She was the topper in Secondary & Higher secondary Board and a National Merit Scholarship holder since 4th to 12thstandard. She has a with distinction and is certified by AMFI, IRDA and MITCON Tax consultancy. She holds a Master’s degree in Naturopathy and Aromatherapy.

Unfortunately, she lost her husband when she was all of 28 years. But instead of letting grief over power her, she rose to face life’s challenges and won many a battle.

She is proficient in Marathi, Hindi and Sanskrit and speaks 9 languages in all. She is also a very proficient Stenographer (100 wpm),writer and poet. She has published 2 books.

She has been a banker of 25 years and a National Award Winner in Fashion designing. She excels in Paper art and Jewelry designing. She also makes eco-friendly Ganesha.

Last but not the lease she was a Table Tennis champion.

Dr Alka Pramod Chitnis is an amazing person and a role model not just for women but also men. I have been most impressed with her and talk about her in many of my programs. This morning I am very happy to share her story with all of you.


Behind every success story, there is always hunger for knowledge and hard work. I was not born with a golden spoon but through grit and perseverance I have been successful as an IFA in Satara.

Around the year 1985, I was looking after third party business for IDBI bank where I received “Performance Excellence Award” for helping the bank in business growth.

This is where I got interested in the Mutual Fund industry. What interested me was that in the Mutual Funds industry one gets to work with highly qualified people and that there exists a huge opportunity to gain knowledge because of the various training programs conducted by AMCs.

On the other hand, as a banker, one gets limited opportunity to use one’s knowledge.

In the year 2009, at the age of 45, I resigned from the Bank and within just 9 years I have become the fastest growing IFA of Birla Sun Life Mutual Fund in Satara.

Right now, I have an AUM of 32 crores and 735 portfolios which include individual as well as Pvt. Ltd. Companies and Co-operative Banks.

I never” sell” any mutual fund product to my clients. Instead, I educate them about the fund’s portfolio, taxation, benefits and show them the fund manager’s qualification and photograph so that they know who is managing their money.

After returning from my training sessions that the AMCs organize, I repeat the whole session to them as if the fund manager is himself talking. So, my clients are always curious and keen about my next training.

In every 2 weeks, I visit my clients personally and discuss whether they are satisfied with my advisory and our fund’s performance.

I develop in them a habit of reading mutual funds magazines and newspaper columns on mutual funds and encourage them to watch CNBC at least thrice a week. It helps to grow their capacity to understand the policy decisions of Government and market movements.

Every month, I write a letter to all my clients in my own handwriting and send it to them in a very artistic handmade envelope and attach their statement of accounts underlining in 3 colorful sketch pens explaining the date of investment, current value, withdrawals, additional purchases etc. etc. This has helped engender trust in them.

I believe in filing system and I handover my client the copy of common application form which I fill properly in my own handwriting along with copy of the cheque and PAN card copy and Passport or AADHAAR copy. I keep the second copy of all the documents in separate file of each client which helps me a lot to fulfill KYC requirement at any time.

Since my clients are not guiny pigs, I ensure that I invest first in the schemes that I recommend. I have kept a graphical analysis book since 2000 to give them ideas about the up and downs of market practically and that is why they never withdraw money or they never make complaint if there is a loss.

This mutual fund field is so interesting that I motivated my son Deepak to enter this field and he is aggressively acquiring business for me since last 5 years.

Even though I know my clients would pay if I were to charge a fee, I have never charged a single penny. On the contrary, I help them to solve their Income tax queries, short term and long term capital gain queries and other personal queries.

I prepare Diwali lantern every year and send them 10 days before Diwali so that they can remember to invest on Laxmi Pooja. On their birthday, I make barfi and personally visit my clients to wish them a long life.

I help my clients in managing their paper work so that their time and energy is saved. Many a times they use this free time to browse through product literature and ask me to explain the product. Eventually they land up investing.

My 32 golden years is the biggest factor to win their trust. I have become a family member to all of them and they all aware of my income out of their investments and nobody has any issues whatsoever. In fact they are quite happy that I am earning my well-deserved commission.

On my birthday, they call me for lunch or dinner and it is always a very touching moment of my life.

“No waste of time” is a golden rule of my life. I work 18 hours a day. Every day is a new beginning for me.

Thrice, I was interviewed on Satara Akashwani for my achievements as an woman Entrepreneur.

All I would like to say is that I am the richest person on this earth in terms of health, wealth and success in all fields of life by the grace of God and my AMC.

And as a woman I am very proud of my achievements. I wish more and more woman should get educated about the mutual funds and become Financial Advisors because this is one profession that gives immense satisfaction.

24 replies on “Dr. Mrs. Alka Pramod Chitnis”

Excellent work mam, its great that you do every possible thing which an IFA must do to excel… Very inspiring

As a new IFA sometimes I felt
Have I chosen the correct battle field. After going through your inspirational work and achiements I felt a sense of sensibilities in me. Thank you ma’am for being who you are. It’s gives hope to many to be themselves.

Excellent achievement, hard work, sincerity,and services to the clients will no doubt flourish business

Hats off . She is an inspiring personality to all of us .She has gone through all walks of life.

God bless her and give courage. As an IFA SHE IS NOW OUR ICON. Many things to learn from her.

I really. request Birla Sun life mutual fund to keep her motivational lecture in every district. It will boost IFA COMMUNITY working capacity.

Really great inspiration story the same I had shared with my wife and son to show how a woman single handedly battled her life to next horizon that is also in Tier 2 city with such AUM that lot of URBAN ARN HOLDERS still to achiece

Marvelous initiatives taken by Mam for stability and residual income.Hats off madam you are an inspiration

Inspiring. It proves that there is no substitute to hard work and sinciarity towards the the clients success

As a new IFA sometimes fear takes over and I doubt have chosen the correct battlefield. ? I don’t see many women? After reading your story I smile. Thank you for being such an inspiration.

Hey what an achievement and it is truly inspiring to our IFA community. God God Bless Bless you you and your family to greater heights and wisdom and prosperity.

Really truly inspiring Story…No Age criteria can restrict you when You have decided to do something… Determination, Dedication and Commitment towards Profession, take one steap ahead to Dr. Chitnis.
Keep Going & Keep Growing

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