Cafemutual has always championed the adoption of technology by advisors to grow business. In this end, we review technology platforms and mobile apps to help you make an informed decision.
In this article, we will take you through “KFinKart – Distributor”, a Karvy Fintech mobile app. This app helps IFAs initiate transactions through their mobile and access a host of other services.
Let us explore.
1.How many AMCs and schemes are available on the platform?
All schemes of Karvy Fintech serviced AMCs are available.
2. Is it a paid app?
It’s offered free of cost for your convenience and experience.
3. Can distributor initiate a transaction on behalf of an investor?
App enables distributor to initiate transactions for their clients and get reports through mail back services. Your clients can approve transaction initiated by you through email or SMS.
Transaction types available for distributors
- Subscriptions – New/Additional/SIPs
- Redemption, Switch
- STP and SWP – will be rolled out soon
- Host of other services
Reports available as mail back services
- Transaction Report
- Net AUM Report
- Client Wise AUM Report
- Brokerage Report
- Investor Master Information
- NAV Report
- Transaction wise Investor Master
- SIP/STP Report
4. What are the different payment modes available for the Investor?
- Currently investors can complete the payment using internet banking
- Other payment modes like one time mandate (OTM) and UPI will be rolled out soon
5.How can an IFA check the status of a transaction?
IFA can check the last ten transactions in transaction history tab for each client.
6. Can IFAs place a request for a consolidated account statement (CAS) on behalf of an investor?
The platform offers consolidated account statement (CAS) as a mail back service.
7. Can IFAs view their investor’s portfolio?
Yes, IFAs can view the detailed portfolio of investment, which were sourced by him.
8. Does KFinKart offer details on brokerage?
Yes, IFAs can view brokerage received during the last five months in “My Earnings” section
9. Is there any quick login facility on KFinKart Distributor app?
Yes, once logged in users can setup a PIN or Pattern based login, which eliminates the need for entering the user id and password every time.
10. Does the app have any tool for analysing an advisor’s performance?
Comparative analysis functionality is offered by KFinKart. IFAs can analyse their business month-on-month compared to the industry.
11. What operating systems support the app?
- Currently KFinKart is available on android
- iOS compatibility will be launched soon
12. Does the app allow transactions for clients in demat format?
No. It only supports non-demat transactions.
13. Does the app support e-KYC and zero balance folio generation?
At present, the app does not support e-KYC and zero balance folio generation. The app allows online transactions of only KYC compliant clients.
14.Can the distributor upload bulk transactions for execution?
Currently, this feature is not available.
15. Does this app support direct plans?
Since this is a distributor app, direct plans are not available.
16. How can IFAs get support and their queries handled?
- IFAs can tap on the contact us section.
- They can raise a query on email or call the contact centre.
- They can reach out to distributor support team at branches.
17. Which other features does KFinKart offer?
IFAs can check NAV of Karvy Fintech serviced funds, their profile details and self-declaration status under “My Profile”
