Prudent Corporate has launched a portal called fundzbazar for its sub-brokers.
Shirish Patel, CEO, Prudent Corporate Advisory says that around 6,800 of his sub-brokers have already joined the platform. According to Shirish, one of the interesting things about this new platform is that it allows his sub-brokers to acquire clients online. “We have given a unique link to each of our sub-brokers which they can use to acquire clients online. For instance, they can send a mailer to their database with a link to our website. Once the investor clicks and invests through this link, the sub-brokers ARN/EUIN code will be automatically captured in our system. Similarly, they can use this link on social media sites. This ensures that they will get the commissions for all the investments coming through these clicks from investors,” says Shirish.
The platform provides login access to both distributors and their clients. Distributors can initiate transactions on behalf of their clients, which needs to be approved by investors.
Investors can also invest on their own. All they need to do is to sing up by filling in their details, submit documents online and invest through net banking, NEFT and RTGS. The portal will offer a list of products to choose from after they key in their goal of investing, time horizon, expected returns, etc.
Shirish says that the platform aims to help sub-brokers cut down paperwork and manage their tasks more effectively. He adds that the portal allows the company’s partners to make client goals, generate reports, initiate transactions, analyze funds and do much more,
As of now, the portal only allows investments in mutual funds and fixed deposits. Shirish says that they will expand the product suite going forward.
According to fundzbazar website, it will not charge any transaction fee from investors. However, investors will have to cough up a fee to use its premium advisory services.
Started in 2000, Prudent manages assets under advisory of Rs. 6,635 crore in mutual funds, claims its website. It has a force of over 7,000 sub-brokers.
Apart from mutual funds, Prudent deals in direct equities, derivatives, life & general insurance, commodities and real estate.
