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CAMS has launched a new service for distributors through which they can distribute alternative products like AIF and PMS.
The platform enables distributors to execute transactions, manage clients and get reports related to their alternative business. The platform is free of cost for MFDs. However, they can only distribute products of CAMS serviced AMCs or PMS providers. Also, you will have to reach out to the AIF or PMS with which you are empanelled to get user id and password.
Further, MFDs can customize the dashboard to get a comprehensive view of investor information. Also, the onboarding process for AIF and PMS supports online generation of POA and agreements, stamp paper affixation with support for multiple states and support for multiple modes of e-signs like Aadhaar OTP based and DSC based e-sign.
In a press release, the company said, “The platform is designed to ease and expedite onboarding of HNI clientele. Opening accounts for AIF and PMS investors and executing transactions are typically time intensive and iterative processes, often extending to several days. With WealthServ, on-boarding process to account activation is done within a few hours.”
Anuj Kumar, Managing Director, CAMS said, “Over 75 enterprises including some very large AIFs have readily adopted this new capability considering the immense benefits and ease of onboarding with the digital option WealthServ when compared to the traditional, paper intensive ways of serving HNI clients. We are excited and encouraged with the market’s response and the momentum with over 20% of new investors being onboarded digitally while we are preparing to release WealthServ 2.0 with augmented features & capabilities.”
