The sharp correction witnessed by Indian markets on Monday caught many of us by surprise. Market participants are expecting that the markets will continue to witness bouts of volatility in the near term due to global factors.
Meanwhile, this volatility has presented advisors with an opportunity to advise clients to enter at every dip. Many advisors reached out to their clients to help them make the most of this opportunity – with messages on what’s app announcing a SALE on Sensex when it dipped by more than 1,600 points.
Now, imagine a scenario when 50 clients call you to invest on the day of such sharp correction. You would have to collect cheque, take signature and make sure that the application slip reaches the R&T office before the cut off time. This would be a herculean task for many IFAs.
But advisors who used DSP BlackRock’s IFAXpress were able to execute many high value transactions seamlessly within few minutes. This was evident by the volume of transactions received by DSP BlackRock on its IFAXpress platform. Out of the all the advisors who transacted on Monday with DSPBR, 10% of them used IFAXpress. Out of the total volume received by DSPBR from the IFA channel on Monday, around 6.5% came through IFAXpress, which translated to 20% in value terms.
Anurag Chitlangi, Partner at U.R Financial Consultants who helped his client invest on Monday says “I used IFAXpress platform to execute few switches on Monday. I called my clients and recommended to switch from liquid to equity. It just took few minutes to execute these transactions. Without this technology it would have been difficult. I’m planning to use this platform more regularly now.”
Viral V Bhatt, a Mumbai based advisor has executed 25 transactions through IFAXpress platform in the last two months. “The markets have been volatile over the last few months which creates opportunity to invest. But you can benefit only if you are able to invest the same day. This is where DSPBR’s platform has helped me immensely. I don’t have to travel and collect cheques. I did a few switches on Monday which were seamless.”
Deepak Shah, an Ahmedabad based IFA was able to execute transaction when his client was in a meeting. “One of my HNI client was in a meeting and I advised him to invest since the market had corrected sharply. He managed to authenticate the transaction and the transaction was successful.”
There are multiple ways through which you can facilitate lump sum investments through this platform. For instance, your clients can execute transactions in multiple ways - debit card, IMPS, internet banking and RTGS, no matter where your clients are. Also, if you wish to switch your client money from debt to equity, the transaction can be completed within few seconds.
Click here for more details on IFAXpress platform.
