Post regulatory changes such as shift to all-trail model and TER rationalization, many distributors claim that their earning has declined by 30-50%. To deal with this challenge, you should invest in technology to reduce the cost of doing business and expand your business offerings.
IIFL Securities’ new business solution ‘AAA’ (Advisors Anytime Anywhere) can be the solution to your problems. The tab offers business solutions that can come handy in managing client’s portfolios, enabling seamless online transactions, avoiding manual paperwork & lengthy onboarding process, detailed reports and reaching remote clients.
Further, this tab enables your clients to execute trade in direct stocks as well. They can compare stocks across sectors & market capitalization, create a watch list of their favourite stocks to track them and place orders to execute the trade. In addition, they will get all the relevant information such as news related to the companies and the sector they operate in, technical charts and research ideas that can impact the price movement in stocks.
Simply put, AAA is a unique tab based investment platform offering one-stop solution to MFDs interested in capital markets.
Let us look at some of the key features of AAA.
Save infrastructure cost: Having this tab reduces your investment in office infrastructure. You can serve clients across the country through this tab without having an office. In addition, you need not require spending on building your own website.
Further, you can also on board new clients within a few minutes through online e-KYC process, which makes customer onboarding completely paperless and hassle free.
Increase offerings: You can distribute a range of products such as mutual funds, insurance, corporate FDs, NCDs, bonds, AIF, PMS, structured products and equities.
Moreover, AAA facilitates comparison of performance of financial products. For instance, you can compare the performance of mutual funds across categories. You can create a watch list of your favourite schemes to track them and execute SIPs & STPs in a single click.
Similarly, you can compare other financial products like health insurance schemes, corporate FDs, NCDs, AIFs, PMS and equities.
Risk profiling and asset allocation: Many of us use risk-profiling questions to gauge risk appetite of clients. This process is not only time consuming, it can be prone to mistakes.
With AAA, risk profiling gets easier. Through AAA, you can ask clients to respond to a set of questions such as their source of income, age and financial goal. Based on the answers, AAA comes up with a score and suggests appropriate asset allocation options.
For instance, if a client’s score is 90 out of 100, it indicates the client has higher appetite for equity whereas someone scoring 51 needs more debt in their portfolio.
Track SIPs: Tracking multiple SIPs of numerous clients can be tedious and there is always a possibility that you might miss them. With AAA, you can keep a track on maturing SIPs, new SIPs and missed SIPs.
Inactive clients: One of the persistent problems faced by mutual fund distributors is zeroing in inactive clients to resume their investment. With AAA, you can easily monitor the list of inactive clients.
Market update: To keep you abreast of market dynamics, AAA also collates relevant news and information on each product segment. This will save you the trouble of looking for recent developments on various news websites.
Training videos: AAA also gives access to over 400 high-quality training videos on financial products. This includes fundamental analysis and technical analysis of various asset classes. It also includes videos that focus on soft skills.
Moreover, the tab offers a section called ‘InvestorQ’ where you can raise your query.
To avail this tab, distributors can apply online by visiting the website or mail a request to aaaquery@iifl.com or visit the branch office. IIFL Securities charges a refundable fee of Rs 25,000 for the tab. Currently, the company is offering the tab at Rs 15,000 as a limited offer deal.
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