The recent volatility in the market has provided advisors 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.
However, collecting multiple applications and cheques and ensuring that these slips reach the R&T office before the cut off time would be a herculean task for many IFAs. But advisors who are using DSP BlackRock’s IFAXpress were able to execute many high value transactions seamlessly within few minutes.
Distributors are increasingly recommending their clients to use IFAXpress to approve transactions. Mumbai based Sanjay Ladha of NM Financial Consultants told Cafemutual he has closed even applications of Rs. 1crore & above with the help of IFAXpress. “Tech savvy clients are generally comfortable using online platforms to execute financial transactions. IFAXpress provides easiest and fastest transaction facility, hence, we see a number of non-tech savvy clients embracing it as well. Investors get same day NAV through this platform.”
Another Mumbai based IFA Rajen Kantilal Gala said that IFAXpress helped him execute multiple transactions at every market dip. “I believe in value investment plan (VIP). All of my clients invest in mutual funds through VIP. I execute transactions every month on behalf of my clients whenever the market provides good buying opportunity. Not only did IFAXpress help me execute multiple transactions at a click of a button, the ease of doing timely transactions has helped my clients generate attractive returns compared to SIP.”
Binoli Dodhiwala of The Money Manager too believes that IFAXpress helps her save time, reduce costs and scale up her business. “IFAXpress has helped my clients approve transactions at a real time. It saves a lot of time.”
Typically, investors are not comfortable to approve transactions through the online route due to security threat and lack of trust. However, IFAXpress has gained acceptance not only among distributors but also among investors.
There are multiple ways through which advisors can facilitate lump sum investments using this platform. For instance, clients can execute transactions in multiple ways - debit card, internet banking and RTGS, no matter where they are. Also, if the advisor wishes to switch their client’s money from debt to equity, the transaction can be completed within a few seconds.
