According to SEBI data, 52,000 total ARN were registered with AMFI in March 2013. Of these, 48,ooo IFAs were active. Only 18% MFDs were active at that point. This makes it necessary for MFDs and IFAs to use high-tech Mutual Fund Software to help them in their advisory business.
Advisors are available to support clients 24/7. Advisors can answer any questions, provide real-time portfolio details and suggest ways to improve their business. Technology allows you to save time and allow your clients to invest in their business. It allows you to keep track of your clients and schedule appointments. You can also send regular communications to specific customers, as well as general information.
basis. Notify customers via email, text messaging, or both, about mutual fund transactions. You can use technology to raise customer service problems and notify customers when the problem is resolved. Tools can be used to send customers monthly, quarterly, or annual accounts statements. Customers can be sent automated greetings on important occasions such as their birthdays, wedding anniversary, Independence Day, and religious events. You can build a strong business network if you are able to think clearly and work with a reliable technology vendor.
Technology is a major advantage right now. Advisors who feel comfortable with technology will be able to thrive in the digital economy. Technology can be an integral part of an advisor’s business depending on his resources and business model. This technology allows for detailed tracking of money flows. It includes information such as the amount of money that is going into each scheme and the type of investors who are putting it in. The turnaround times for operations have improved. Online calculation of net asset values can now be done virtually instantaneously.
A good technology solution will allow you to not only provide better customer service but also enable you engage with a wider range of customers on a more frequent basis than what you are currently doing. The right technology can improve customer experience, advisor productivity, and, most importantly, your revenue potential.
