REdvision236's blog

As a Mutual Fund Distributor, your top priority is growing your business/AUM through increased sales.

However, without the right tools and technology, managing client relationships and fund transactions can become tedious and time-consuming.

The right Mutual Fund Software can streamline your processes and boost productivity significantly.

Let’s see how.

· Automating Manual Processes: Mutual fund software eliminates the need for manual data entry, decreasing the time and effort required to manage back-office work.

· Efficient Client Onboarding: It automates client onboarding, transaction processing, and reporting, allowing distributors to serve more clients efficiently.

· Integrated Features: Portfolio tracking software offers features such as instant digital onboarding, a comprehensive portfolio dashboard, and seamless order processing, which can enhance advisor productivity and minimize the total cost of ownership.

An effective fund management software allows you to easily track all your client relationships in one centralized place.

· You can save client documents in an E-vault

· Categorizing clients based on their risk profiles

· Analyze client demographics

· Save contact information

· See transaction history and more.

Having all this data organized makes it simple to follow up proactively. You can also generate customized reports to share updates with clients.

This level of organization saves you hours otherwise spent searching through emails and Excel files.

Manual transaction processing is prone to errors and delays.

The right software automates repetitive tasks like processing onboarding/KYC, mandate creation, purchase/sell, and report generation.

It seamlessly integrates with depositories and registrars such as CAMS to ensure seamless fund transfers.

Automation eliminates manual errors and speeds up the end-to-end process. Distributors see transactions completed up to 4 times faster.

Introduction 

Mutual fund distributors (MFDs) have relied on Microsoft Excel for managing their business for years. However, the financial industry is evolving rapidly and Excel may no longer be sufficient. It's time for MFDs to consider upgrading to purpose-built mutual fund software. In this blog post, we will discuss the advantages of upgrading software and how it can improve efficiency.

Excel Has Limitations

While Excel is a versatile tool, it has some key limitations that make it challenging to manage an investment business.

● Complex data handling: Excel files can become unwieldy with large amounts of data and complex formulas.

● Sharing & collaboration: They are also not collaborative - only one person can work in a file at a time.  

● Client relationship management: Excel was not designed for specialized financial or CRM functions that MFDs require.

● Data storage: Excel was not designed to be a robust data storage and management platform. It struggles to handle large amounts of data generated by the financial industry.

● Data accuracy: It is almost impossible to quickly verify the accuracy of data in Excel, which can lead to errors and inconsistencies.

● Lack of automation: Excel requires manual updates and calculations, which can be time-consuming and prone to human error.

Modern Software Offers More Features

Modern mutual fund software is designed specifically for investment distributors. Key features include:

● Centralized client databases

● Automated workflows

● Customizable dashboards, and reports.

Distributors can track leads, manage client portfolios and transactions, run analytics, and more.

Data entry is streamlined. Multiple users can access the system simultaneously, improving team collaboration.

The software also ensures data security and integrity with features like automatic backups.

Stay Competitive in the Digital Age

As investors increasingly conduct business online, MFDs need digital tools to engage clients and prospects effectively.

Younger advisors also expect the technologies they use personally to be available professionally.

Outdated systems can hamper an MFD's ability to service clients and attract new talent. Upgrading to purpose-built mutual fund software keeps businesses competitive in today's digital landscape.

Conclusion:

Managing client relationships and business operations with Excel will become more difficult as demand grows.

It's time for MFDs to take a serious look at upgrading to modern investment software tailored to their unique needs. This investment will pay off through increased efficiencies, improved client services, and the ability to scale for future growth.

The winners will be distributors who embrace new technologies to stay ahead in this rapidly changing industry.

As Mutual Fund Distributors (MFDs) in India, you know the challenges all too well. While clients are often eager to make the most of their investments, the limited options for diversification cause problems.

MFDs often face a double-edged problem. While investors are willing to broaden their horizons and explore opportunities beyond Indian markets, the lack of accessible global investment options restricts their choices. On the other hand, even MFDs miss out on potential Assets Under Management (AUM) and trail income that they could be earning by offering global investments. The good part is that there's a solution - and it's called global investing.

REDVision Technologies simplifies this challenge for MFDs and IFAs through Wealth Elite, the best mutual fund software in India which offers global investments. This game-changing feature allows MFDs to offer their clients a gateway to a world of investment opportunities with access to stocks and ETFs of global giants like Facebook, Apple, Amazon, Netflix, and Google, also known collectively as the FAANG stocks. FAANG stocks are also the world's leading companies, and investing in them can bring a breath of fresh air to your clients' portfolios.

Global investing offers numerous benefits to both investors and MFDs:

Portfolio Diversification: To effectively manage and reduce risks, diversifying investor portfolios is crucial. Global investing empowers your clients to distribute their investments across various markets and industries, reducing their dependency on local market fluctuations.

Growing Trail Income: As your clients invest more, your trail income increases. It's a mutually beneficial scenario, and global investing provides you with an option to tap into this income source.

Increased Assets: By offering global investments, you can grow your pool of assets. The excitement of international stocks can be a stepping stone to expand your business.

Increased Profits: FAANG stocks have a proven track record of delivering impressive profits. MFDs can strengthen their clients' portfolios, helping them achieve better financial results through global investments.

REDVision Technologies enables MFDs to diversify portfolios through global investing. It addresses the challenges faced by both MFDs and investors by providing access to renowned global companies, increasing AUM, delivering better returns, diversifying portfolios, and boosting trail income. It's a step in the right direction toward achieving financial success for both you and your clients.