Mumbai based Ronak Hindocha has developed a portal called ‘IFAnow’ which enables advisers to create financial plans and execute transactions in mutual funds.
Launched in May, this platform allows IFAs to manage and track client’s portfolio through its CRM tool. Also, it enables your clients to take a consolidated view of all their savings and investments. Simply put, investors can track all their financial assets such as mutual funds, stocks, NPS, bank FD, gold and savings account and insurance policies at one place.
Sharing the rationale behind launching this platform, Ronak Hindocha, Founder IFAnow said, “The earlier platform ‘Future Advisor’ was only meant for creating financial plans. However, we found that distributors want a single platform where they can create financial plan as well as execute transactions. Hence, we have come out with IFAnow.”
Apart from financial planning and transaction, IFAs can also monitor the productivity and sales performance of their team members as the platform allows them to create separate login ids under the account.
Since IFAnow has a tie up with NSE NMF II, advisers need to first register with the NSE’s platform before using IFAnow. The registration fee to use this platform is Rs.5000 per year.
In addition, IFAs have to cough up subscription fee ranges between Rs.10,000 to Rs.20,000 per year depending on a subscription package. “We have three packages for advisers- Rs.10,000 per year to get a basic plan which only includes transaction and monitoring facility. While Rs.15,000 per year enables IFAs to use CRM system, Rs.20,000 allows them to generate online financial planning,” said Ronak.
Currently, Ronak’s team is also working on a mobile application which will allow IFAs and clients to monitor portfolios on the go.
