Axis Mutual Fund has introduced a tab version of its Shubhchintak platform which was so far available in desktop and laptop versions.
Axis Mutual Fund unveiled a tab version of its Shubhchintak platform at the 6th Annual Mutual Fund Roundtable Conference 2014. Launched in March 2014, the platform was so far available only in desktop and laptops.
Axis MF has tied up with Freedom Intermediary Infrastructure (FIINFRA) which has developed the software based on the inputs provided by Axis. IFAs have to pay a subscription fee of Rs. 599 per month for using the facility. ShubhChintak has 800 subscribers currently.
Speaking at the 6th Annual Mutual Fund Summit held in Agra, Karan Datta, Chief Business Officer, Axis Mutual Fund said that one of the biggest hurdles facing distributors to grow their client base is lack of infrastructure. “If you are an operating as an individual that doesn’t mean you can’t scale up your business. Shubhchintak platform is designed to take care of the entire back end, pre-sales and post-sales requirement of IFAs. Our mission is to create happy families. We are just enablers of this infrastructure. I’ll be happy when this platform actually makes a difference to a client’s life,” said Karan.
Karan said that majority of investors today don’t know why they are investing their savings. He highlighted the importance of attaching these investments to client’s goals.
Stressing on the need to create happy clients, Karan said that IFAs need to transition from short term planning to long term planning, shift from return based approach to goal based approach and shift from random investments to planned investments. Drawing his point across Karan said “Today individual sports players like Heena Sidhu and Kashyap Parupalli have become successful due to the infrastructure available to them which was not there few years back. Similarly, IFAs can grow their client base and revenue if they adopt the right the right technology,” he added.
Shubhchintak is an open architecture platform which means that IFAs can deal with any fund house. Moreover, apart from mutual funds, distributors can deal in a host of asset classes like insurance, bonds and direct equity. As of now, users have not been provided an option to execute transactions. Axis is planning to provide IFAs to transact through this platform soon.
Shubhchintak provides email enterprise, tools, data analysis, risk profiling and goal planning for IFAs.
Cafemutual is the online media partner for MFRT Summit 2014.
