Most MFDs make the same mistake.

They staff their firms with people who can maintain. People who can service ongoing work. People who can handle transactions, paperwork, and routine client requests.

Nothing wrong with this. Every business needs people who can maintain. They are the backbone. They ensure clients are serviced. They keep the lights on.

But here is the problem.

Very few MFDs hire builders. Very few even know how to identify builders.

And then they wonder why the business does not grow. They wonder why the next generation does not have what it takes. They feel disappointed that things are not moving the way they imagined.

Let us pause and ask a question. Who are the builders in your organization?

Builders are different. They are not content with maintaining what exists. They are driven to create. To expand. To take something small and make it larger. They look at what is, and they imagine what could be.

Builders take ownership. They are not waiting for instructions. They push boundaries. They challenge the way things are done. They bring in new clients. They design new processes. They spot opportunities. They grow revenue. They grow people. They grow the firm.

Maintainers, on the other hand, are comfortable in the known. They execute instructions. They do what is expected. They keep the engine running, but they rarely add new tracks.

Both are important. But if your organization has only maintainers, then your firm will stand still. Or worse, decline slowly.

Here is the reality many MFDs ignore. If you want your business to grow, you need builders. You need them at every stage. Without them, you will always be stuck at the same level.

I have seen this countless times.

Firms that once had ambition settle into a rhythm of maintenance. Founders hire people who are safe. People who will not rock the boat. People who can handle existing clients but cannot create new ones. Slowly, the firm loses its growth edge. Slowly, the founder begins to complain. “The next generation is not hungry.” “They do not have what it takes.”

But let us be honest. It is not the next generation’s fault. It is the founder’s fault. Because you did not bring in builders. You did not nurture them. You did not empower them.

Let me share a story.

An MFD in Mumbai had built a good book of Rs. 300 Crore. The business had steady inflows and a strong client base. But for five years, the AUM barely moved. The founder kept saying, “I have people. I have staff. I do not know why growth is not happening.”

We looked at his team.

He had three staff members. All three were maintainers. They were good people. They handled service. They did paperwork. They answered calls. But none of them were builders. None of them had the mindset to grow the business.

The founder had never invested in a builder. He was afraid of the cost. He thought builders might leave after learning. He thought his clients might prefer to deal with him directly. He never hired one.

As a result, the firm stagnated. The founder worked harder and harder. The staff maintained. The clients aged. And growth became a dream.

This is not one story. This is the story of hundreds of MFDs across the country.

Another MFD, thinking about succession, made an even bigger mistake. He added a maintainer as his succession plan. This person had no hunger to build. He was content with keeping things where they were. He never took risks. He never imagined growth. He simply maintained.

The result? The firm kept going through the motions, but it slowly declined. Clients left. Growth opportunities were missed. The founder, who thought he was securing the firm’s future, had set it up for decay.

This is the danger of mistaking maintainers for builders. Maintenance does not create the future. It only preserves the past.

What can you do?

First, recognize the difference. Maintainers are necessary. Builders are essential. You need both. But you cannot expect maintainers to magically become builders. It is not in their wiring.

Second, identify the builders in your organization. Who are the people who are proactive? Who takes initiative? Who is thinking beyond the task at hand? Who is restless about the way things are? Who talks about growth, about clients, about the future? These are your builders.

Third, if you do not have any builders, go find them. Do not shy away from hiring talent that is smarter than you. Do not hold back because of cost. Do not fear they might leave. Fear instead what will happen if you never have them.

Builders pay for themselves many times over. A single builder can transform your firm. They can add new AUM. They can deepen client relationships. They can make your business attractive to successors and buyers.

Fourth, nurture builders. Builders need freedom. They need trust. They need space to experiment. They need mentorship. If you suffocate them with control, they will leave. But if you empower them, they will give you more than you imagined.

Fifth, ask yourself a hard question. Are you a builder or a maintainer? Many founders think they are builders. But often, they become maintainers after a point. They get comfortable. They focus on cash flow. They avoid risk. They stop imagining.

If you are in that stage, be honest. There is no shame in it. But then, you must surround yourself with builders. You must let them take your firm to the next level.

Think of your legacy. Do you want to pass on a firm that is stuck? Or do you want to pass on a firm that is alive, growing, and full of energy?

Your clients can see the difference. Your team can feel the difference. Your successors will value the difference.

I have seen firms that embraced builders explode in growth. In just a few years, they doubled or tripled their AUM. They built systems that worked without the founder. They created value that was real. They became firms that could attract talent, partners, and even acquirers.

And I have seen firms without builders fade away. The founders grew tired. The clients drifted. The staff managed the decline. And the firms vanished quietly.

The choice is yours.

Who are the builders in your organization?

If you cannot answer that question immediately, then you have your answer. You do not have any.

And if you do not have any, you need to find them. You need to invest in them. You need to trust them.

Because growth will not come from maintenance. Growth will only come from building.

Do not let your firm become a museum of maintenance. Make it a workshop of builders. That is how you create the future. That is how you secure your legacy.

I ask you again.
Who are the builders in your organization?

Wishing you and your family a Very HappyRich Diwali; one filled with health, love, peace, abundance, and meaning.