In an email sent to distributors, HDFC Mutual Fund has announced the release of its digital platform for distributors called HDFC MFOnline. Among other things, the platform claims to enable distributors to on board new clients, transact, get business reports & scheme updates and track transaction status.
Also, it provides digital tools to distributors to carry out marketing activities and financial planning. While digital marketing tool help IFAs with creatives and contents, which they can share with clients and prospects through email or social media, financial planning tool enables them to work on financial goals of clients such as retirement planning, education planning and tax and estate planning and marriage.
Pune-based Prasad Deshpande who has been using pilot version of this platform for the past two months said that distributors could initiate SIP, SWP and STP through this platform unlike other such platforms. In addition, the platform provides robust CRM system and mail back services to its partners, observes Deshpande. He said that the platform is compatible on mobile and tablet as well. He; however feels that the fund house should add features like flex STP and central KYC to make to it one-stop sales solution for distributors.
Another Mumbai-based distributor Ritesh Sheth of Tejas Consultancy who too has been using the pilot for the last six months says, “Initially, there were some hiccups but now the platform is flawless. The best part is its server, which never hangs and the platform is compatible on all browsers. Another distinctive feature is its digital marketing tool, which helps IFAs to share co-branded creatives like images, videos and write-ups. I feel that the platform can be made better if the fund house starts motivating distributors by giving rankings and points based on their sales and marketing performance.”