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#Post#: 118--------------------------------------------------
How is the Best Mutual Fund Software in India Becoming a Necessi
ty for MFDs?
By: wealthelite Date: February 9, 2023, 5:06 am
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As per Business Standard, by the end of 2022, the total count of
individual mutual fund distributors in India is approx 116,000,
which was 109,000 at the end of 2022. As per an IDFC Mutual Fund
report titled ‘Mutual Fund Trend’ published in 2021, only 35% of
total individual Mutual fund Distributors have an AUM size
larger than Rs.1 crore. That means a large proportion of
individual MFDs have a lower size of assets under management.
It is a clear indication that a large number of Mutual Fund
Distributors in India are lacking behind. They actually lack
competent mutual fund software
HTML https://wealthelite.in/.
Therefore, they are not able to grow
their AUM size exponentially, not able to acquire clients beyond
their locality, their clients redeem investments frequently,
they do not have any method to effectively retain their clients,
and they remain busy in firefighting on a daily basis.
MFDs need to transform by adopting technology and implementing
automation in their business or they will eventually perish.
This is the tech age & businesses can grow multi-fold using
advanced technology in their respective industries. Mutual Fund
Distributors are required to understand that they need the best
mutual fund software in India
HTML https://wealthelite.in/
to bring scalability into their
business. Competent mutual fund software is one that can offer
Powerful Business Intelligence, Automated onboarding with Video
KYC, Online Transactions, Online ATM, Goal GPS, Portfolio
Re-Balancing, and much more.
The primary features of Wealth Elite include:
[list][*]100% White Labeling Solution: create a digital
identity, generate trust, and become a brand. It helps MFDs in
increasing their credibility, and their online presence &
results in growing their business multi-fold.
[*]Video KYC: Finance Minister in Union Budget proposed
simplification of KYC using DigiLocker. Wealth Elite already
offers full video KYC using DigiLocker.
[*]Online ATM: Become a game changer in Indian Investing
Industry by motivating millions of new and untouchable investors
of cities beyond Tier 1 that prefers keeping their money idle in
bank depositors, to start investing in liquid funds with the
Insta-Redemption Feature. With Online ATM investors can withdraw
Rs.50000 or 90% of invested amount (whichever is smaller) within
30 minutes to their bank account.
[*]Goal GPS: It is a goal-creating and tracking feature that
helps MFDs in simulating the future goals of their clients. With
precise goals for the future, clients avoid redeeming their
investments on a regular basis. Moreover, MFDs can set alerts to
place MF investment orders on a future date via
BSE/NSE.[/list]Saves Time – Time is Money: The primary purpose
of introducing the best mutual fund software into the business
is to automate the process and reduce wastage of time in daily
firefighting like preparing manual reports, conducting calculate
ions, analyzing portfolios using excel, etc. MFD can otherwise
use this time on more productive tasks to build a sensible,
sustainable & scalable business by making quality interactions
with the clients.
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