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MF News Online transaction platforms take social media route to resolve your queries

Online transaction platforms take social media route to resolve your queries

While BSE Star MF Telegram group has 4400 IFAs, NSE NMF II and MFU have 700 and 800 members, respectively.
Nishant Patnaik and Riya Lakhmani Jul 4, 2018

Now, you just need to ping on Telegram to get your queries resolved. Online transaction platforms such as BSE Star MF, NSE NMF II and MF Utility have created Telegram groups with the help of IFAs to resolve advisor queries related to the platform such as failed transaction and execution issues.

Ahmedabad based IFA, Milind Shah popularly known as ‘Money Bhai’ created these groups to resolve issues of MF distributors using transaction platforms. Sharing how he created these groups, Shah said, “Four years back, I had created a group along with three IFAs to help each other resolve queries related to BSE Star MF. Eventually, many IFAs and BSE official became participants in this group. After positive response from IFA community, I created two other groups to resolve queries related to NSE NMF II and MF Utility.” He said that IFAs can become a member of these groups through referrals.

“Even since we came to know about such groups, we thought BSE Star MF too should leverage such initiatives to resolve IFA queries. This is when, we approached Ahmedabad-based IFA Milind Shah to add us to the group,” said Omkeshwar Singh, Head of Mutual Funds, BSE Star MF.

BSE Star MF has 12 officials on this group of which at least two members are active round the clock. Also, BSE Star MF officials ensure that they reach out to IFAs personally to resolve queries.  

MFU has joined a similar Telegram group two years back and appointed an official to resolve queries of distributors. “We ensure that we resolve queries of IFAs within 3 hours. Apart from this, we have a complaint section on our website called cencom i.e. centralised connect module where IFAs can lodge complains and give feedback,” says V Ramesh, MD & CEO, MF Utilities India.

Chetan Doshi, Vice President, NSE NFM II said that their officials interact with distributors on Telegram group to resolve basic queries such as documentation or accessing information. However, for complex queries involving client information, they recommend distributors to approach them through call centres.

He further said that they have uploaded a few tutorial videos on YouTube to help IFAs on how to use their platform efficiently.

Click to clap
Vinayak Sapre · 2 months ago
Money bhai and Srikanth Matrubai are doing a Fab job in helping the IFAs across the length and breadth of the country. He puts in lot of effort for that.
Dhruv Patil · 2 months ago
It was truly a fabulous idea initiated by Money Bhai and a great meeting ground for IFAs. BSE StAR MF Team is doing a good job by providing help to the Members and the service is appreciated.
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