Cafemutual has always underlined the importance of leveraging technology by advisors to run and grow their business. To this end, we have been reviewing technology platforms and mobile apps to help you master technology.
Today, we review the distributor support services offered by Karvy Computershare, www.karvymfs.com.
Let us explore.
Do I need to register to avail of services such as mailback?
Yes, you need to register with Karvy Computershare for their mailback services, GST invoicing, and so on, which are meant for distributors.
You can register with Karvy through OTP authentication within 3 minutes. In addition, it offers auto-registration facility. This means, when you empanel with any Karvy serviced fund house, you will get your user id and password automatically from Karvy Computershare, enabling you to use their distributor services through email.
Do I need to pay to avail of these services?
No, these services are free of cost.
What are the services I can use on the Karvy Computershare website?
Services include subscription-based reports, mailback reports, special reports, transaction status query, GST invoice/credit note management and so on.
What are subscription services and how would it help me?
Subscription services provide all business reports through an email to distributors. As the name suggests, distributors will have to subscribe to such reports. You can get reports on transaction, NAV, investor master information, SIP registration and expiry, dividend, KYC, to name a few. You can select the type of report, frequency at which you need the report and the email ids to which reports are to be shared. However, these reports will be restricted to Karvy serviced fund houses.
What are mailback services and their benefits?
Mailback services provide customised business reports through email to meet your specific data requirements. You can select from a host of reports such as AUM details, brokerage and so on that are available for any specific period, any specific AMC or all AMCs. Once requested, a download link will be sent to your registered email id. You can download the report, which is generally password protected.
What are the popular procurement reports on mailback services?
Transaction report, investor master, statement of accounts (SoAs), rejections, account-wise transactions are some of the popular reports.
What are the popular brokerage reports under mailback services?
Brokerage report, brokerage earnings report, transaction-wise brokerage report, cheque/warrant number summary, brokerage summary and consolidated summary.
What are the popular reports covering special products under mailback services?
Popular reports under special products cover all products with information on registrations, rejections, transactions, termination, and the whether or not these are closed, about to expire or expired.
Can I make changes to such reports?
Yes. You can click on “Customise your report” through the option available while placing the request. This option helps you to select/de-select the information headers based on your needs. However, this feature is available for a select set of reports.
For how long is the report download link valid?
The download link will be live for seven days.
Can I download these reports from the site itself without logging in to my email account?
Yes. You have a convenient “Report Console” from where you can download these reports, conveniently.
What are the other insightful reports for distributors on mailback services?
You can get analytical reports to analyse your business, other reports like brokerage rate masters, missing profile information of your clients, compliance related like KYC, FATCA, EUIN, Aadhaar to name a few.
How many mailback reports can I generate?
You can request 500 SoAs in a single request using MFSD248. However, there is no limit on mailback requests.
Is GST invoice management supported?
Yes, you can view and download GST invoices/credit notes, verify and upload digitally signed invoices and access GST invoice submission dashboard across Karvy served AMCs.
Can I check a client’s transaction status or get capital gain statements?
Yes, you can check your client’s transaction status and get capital gain statements.
Can I check the status of registering self-declaration?
Yes, you can view the status for any fund served by Karvy Computershare.
Can I update EUIN for offline transactions through this portal?
Can I have multiple users for the same ARN?
Yes, you can have 200 sub-users.
Can I request for information since inception of their business?
Yes. However, you can place such requests only once in 6 months.