FAQs WEALTH CENTRAL

FAQ

This FAQ section addresses and provides clarity on your pre-investment doubts, account creation process, transaction process and basic troubleshooting. We also suggest that you check our articles section to know more about mutual funds, equities, market related information, terminologies, research and technical information that might help enhance your knowledge and give you greater confidence while investing.

Understand the basics - Spend some time to understand what mutual funds are, how investments are done, and work on a definitive purpose on why you want to invest. If you want to invest for your retirement, do not get scared in between and pull out funds after two months. Every advisor suggests funds for you based on your objective, and suddenly when you make a long term call as a short term one, you might not benefit largely from your investments.

 Market risks exist - Mutual funds are very well regulated by SEBI and are designed to protect the interests of the investors in every way. However the investments made are subject to market risk and a well experienced advisor can help you design your portfolio to ensure that you benefit more, from the various good schemes.

 Reap the benefits of SIPs - SIP does not require timing of the market and it can be done periodically - weekly, monthly or quarterly. This brings huge returns in the long run, and the investments are also done in a disciplined manner.

Understand the power of compounding - In compounding, your interest gets added to your investment and that again earns interest. If you start investing Rs. 5000 every month from age 25, at a return interest rate of 12%, when you turn 60 years, your funds would be worth over Rs 3 crores.

Start young - The advantage of young investors is that, you can stay longer in the market, and that would make your investments less risk prone. So what if you are already old? Inculcate the habit of investing to your children. Our youngest client is one month old. Yes, you read correctly - one month old. In the above compounding example, where Rs. 5000 is invested every month - let us say, you start the same investment at age 40 instead of 25, then when you turn 60 years, your funds would be worth only about 50 lacs. Related Reads: From our Articles / FAQs::

What do you need to know before you begin investing?

How to be a smart investor?

What is an SIP, STP and SWP?

Why should you invest in them if “mutual funds are subject to market risks”?

How can I invest in a minor?s name?

Faqs

One of the primary objectives of any investment is to make substantial returns on that investment and grow your wealth. Returns of investments could be market driven or fixed, depending on the investment product. Direct equity is the type of investment, where everything is entirely market-linked. Returns are neither fixed not assured.

In this category, investments are done in shares of various listed companies, which are traded in various designated stock exchanges. The overall performance of the company, the performance in relation to its peers, various market sentiments and market factors determine the prices of these shares which could have a positive or a negative impact.

The major hitch comes here - you have to manage your portfolios and take the call on buying and selling, unlike mutual funds, where they are managed by highly experienced fund managers who take the call for you, in their professional capacity. In that sense, equity mutual funds are far less riskier compared to direct stock investments, as their portfolios are diversified enough. The lure of direct equity trading is however, hard to resist, as returns might be larger if sufficient risks are taken. This kind of investment is not for the weak hearted, and not for those who do not have enough experience in the markets.

 Direct equity investments can only be done using authorized brokers, and usually they charge a fixed brokerage. If you have the risk appetite in you, and a very experienced broker / advisor, who can help you guide your investments, then this avenue could be explored. But always remember this - the onus of responsibility for profits or losses lies as much with you, as your advisor. Related Reads: From our Articles / FAQs::

· What do you need to know before you begin investing

· Do I invest in equities or mutual funds? Are the two different?

· How can you determine whether your advisor is good?

Faqs

Always remember - insurance is never an investment. You cannot expect returns as you expect in an alternative form of investment, when you opt for insurance. The idea of getting something back when you live or you die, has ironically overshadowed the minds of many investors from actually seeing the actual bargain behind an insurance policy.

 Insurance simply reduces your financial liability in case something unforeseen happens to you or your assets, and gives you peace of mind that the loss to you or your loved ones is mitigated to an extent. That is what it does. Insurance does not help in creating wealth, like our other forms of investment. If you remember that, you would understand that having 4 or 5 life insurance policies for one life is absurd. Ironically, life insurance is not even about life - it is about death. Proper planning should be done to ensure that you do not go overboard with insurance policies, and this applies to all forms of insurances.

Insurance is an excellent product that ensures family and financial stability, safety and security, helps manage cash flow uncertainty, provides tax benefits, gives peace of mind, and reduces social burden as it definitely reduces the burden of any kind of uncompensated victims. While it is true that the world is a dangerous and risky place, and sufficient precautions should be taken to protect you and your assets, insurance is not your piggy bank.

Due to misguided notions on what is actually the need of your hour, the premiums that you actually pay might go to a waste. Most people do not even claim the benefits from insurance as the disaster that you supposedly protected yourself from, never actually happened. Care should be taken to ensure that losses are mitigated, rather than have multiple policies that do not meet the stipulated purpose of 'restricting financial losses'. So, talk to our advisors to see what kind of insurance you need, to what extent and coverage, and on how best you can protect yourself from the possible losses.

Related Reads: From our Articles / FAQs::

· What do you need to know before you begin investing

· How to be a smart investor?

· How to get in touch with Wealth Central?

Faqs

First, pick up the phone and call our advisors. We do not encourage random account creation by you without actually knowing the details about your financial goals, your risk appetite, your financial standing etc. Once we are clear about the suitable pa

Faqs

Yes. You can have one or maximum of up to three joint account holders. At the time of registration / opening of account the option of joint holding should be chosen - and in that, the mode of operations could be 'joint' or 'either or survivor'. If mode of holding is not mentioned, the mutual fund treats the mode of holding as 'joint' by default. It is generally easier if 'either or survivor' mode is chosen as the investments could be done hassle free. If the mode 'joint' is chosen, every time a change is required, or a transaction is to be executed, it must be approved by all the holders. This option is therefore chosen only by those who prefer to keep the investments jointly under the strict control of everyone. Most others, choose only 'either or survivor' for all the conveniences it offers.

To invest under joint names, all the joint investors should be KYC compliant. If one of the investors is not KYC compliant, then he/she cannot be added as the joint holder. Before appointing a joint holder, please note that the rights of the surviving joint holder(s) are superior to that of the nominee in case of death of a joint holder. A nominee will only be entitled to the units upon the death of all the joint holders. With regard to operations, only the 'first holder' of the account gets the communication regarding the payments, dividends, transaction updates etc.

With regard to Income Tax, only the first holder is allowed to claim any exemption on income tax in case of tax saving funds like ELSS (under section 80C). Further, the tax implications of short term or long term capital gains from the fund can also be borne by the first holder only.

Related Reads: From our Articles / FAQs::

 · How to get KYC compliant? Why does Mutual Fund require another KYC?

 · Can I add nominee(s) to my investments? Should my nominee be KYC compliant?

· How to get in touch with Wealth Central?

 · What is my eligibility to sign up and start investing? Who can invest in mutual funds? Can NRIs and foreign investors invest in mutual funds?

Faqs

Yes. Nomination is the process of appointing a person to take care of the assets in the event of the investor's demise. In the absence of nominee(s), the heirs/claimant will have to produce a lot of documents like a will, legal heir certificate, no-objection certificate from other legal heirs, etc to get the units transferred in his/her name, which is a very cumbersome process. So, it is also advisable to register nominee(s). A nominee can be any person you trust - your spouse, your child, your parents, any another family member or friend or any other person.

You can register up to three nominees. You can also specify the percentage of amount that will go to each nominee. For example, if you are registering your spouse and two children as your three nominees, you can specify a share of 50% to your spouse, 25% to child A, and 25% to child B - or in whatever ratio you want, to whichever person you want. If the percentage is not specified, each nominee will be eligible for an equal share.

Individuals holding accounts either singly or jointly can make nomination. However, in case of joint holders, the rights of the surviving joint holder(s) are superior to that of the nominee in case of death of a joint holder. A nominee will only be entitled to the units upon the death of all the joint holders. Nonindividuals like society, trust, body corporate, karta of Hindu undivided family (HUF), holder of power of attorney etc cannot nominate.

The easiest way to have a nomination is to name your nominee(s) at the time of opening your account, as part of the application form. If however, you did not register your nominee(s) at the time of opening your account, you can also subsequently get it done by filling and signing the relevant nomination form as specified by each fund house. Upon registering the nomination, if you want to change the nomination at any future date, that can also be done by filling and signing a fresh nomination form as specified by each fund house. If the nomination is registered online, the latest nomination would supersede the earlier nominations registered. In the event of the nomination kicking in, and transfer of funds are to be done in the name of the nominee due to the unforeseen death of the investor, then nominee(s) should become KYC compliant before executing the transaction.

Related Reads: From our Articles / FAQs::

 · Can I add a joint holder to my investments? Should my joint holder be KYC compliant?

· How to get KYC compliant? Why does Mutual Fund require another KYC?

· What is my eligibility to sign up and start investing? Who can invest in mutual funds? Can NRIs and foreign investors invest in mutual funds?

· How to get in touch with Wealth Central?

Faqs

Our advisors would first have a discussion with you, to assess your financial goals, your risk appetite, your financial standing etc. after which a suitable asset allocation and investment plan would be provided to you, with details about suitable SIP / lump-sum investment, the suggestion duration etc.

Meanwhile, we would collect your PAN, instantly verify and let you know if there you are KYC compliant or not. If you are not KYC complaint, we would need a duly filled and signed KYC form, FATCA form, PAN and Aadhar self-attested and a photo to complete the KYC process. Once KYC is approved or, if you are already KYC compliant, we would then proceed with account opening for which we would need your basic personal particulars, account opening form, bank mandate form, and a cancelled cheque from your primary bank account to enable commencement of transactions. Please note that KYC for mutual funds is different from that done already for your bank accounts. For SIPs, the bank mandate is essential. A mandate is a legal document that gives authority to the bank to act on your behalf within certain pre-determined limits. For a hassle free and convenient lump-sum investment and/or SIP investment, we complete this process. Multiple SIPs can be registered under single Mandate for any AMC, subject to the cumulative SIP amount debited to customer, falling under the Mandate 'Upper Limit'. Based on this instruction and your authorization that you give to your bank, every month or every quarter (as chosen by you), amount will be automatically debited from your bank account and be invested in your fund account. This mandate takes about 3 weeks to get approved.

Wealth Central has a robust and secure online platform, where, once the registration and account opening is done, all the transactions, including investments can be done online - for both SIPs and lumpsum investment. We would initiate the SIP / lump-sum transaction, which should be approved by you, and thereafter the amount paid for / invested, by you by logging on to your bank?s net-banking. Once the mandate is approved, the payment process gets simplified in to a one click investment option.

 Wealth Central also provides you with a specific login using which, you can transact, check your reports as on any date, check your capital gains, download your statements in various formats, do your financial planning, set your goal and track it, review your portfolio, check the factsheets and statistics of various funds and have complete online control and tracking of all your investments.

 Related Reads: From our Articles / FAQs::

 · How to get KYC compliant? Why does Mutual Fund require another KYC?

 · What kind of security do I have for my investments, and my confidential information?

· What is an SIP, STP and SWP?

· What functionalities does Wealth Central's website provide me with, after creating my account? When will I get my username and password to start using my account?

· Why am I unable to create my own username and password? Why should I give details for my account and then wait for Wealth Central to provide me my login?

Faqs

SIPs do not require timing of the market as much as lump-sum investment does, and it can be done periodically - weekly, monthly or quarterly. This brings huge returns in the long run, and the investments are also done in a disciplined manner. So continuing your SIP and investing on the same for a longer duration is essential. We therefore usually would suggest you to retain your ongoing SIPs, unless we believe that the current asset allocation or investment pattern totally contradicts your financial goals.

With regard to lump-sum investments, it largely depends on your existing portfolio. Our advisors would first have a discussion with you, to assess your financial goals, your risk appetite, your financial standing etc. after which a suitable asset allocation and investment plan would be provided to you. Your ongoing investments would not be disturbed if it aligns with your goals and return expectations. It is under very rare circumstances (only in the scenario where the ongoing asset allocation or investment pattern totally contradicts your financial goals), that we advice our clients otherwise.

Wealth Central has a robust and secure online platform, where, once the registration and account opening is done, we provide you with a specific login using which, you can transact, check your reports as on any date, check your capital gains, download your statements in various formats, do your financial planning, set your goal and track it, review your portfolio, check the factsheets and statistics of various funds and have complete online control and tracking of all your investments. None of these facilities would however he available for your ongoing investments, as it was done prior to your advisor being Wealth Central. If you want to have the earlier / ongoing investments available in our portal, a letter authorizing and approving the same should be given by you and after about 2-3 weeks, the fund house would do the needful. This is a security mechanism looped in by the concerned authorities to ensure that the investments done using different advisors are kept private for your convenience, unless approved by you with a written consent, for the alternative.

Related Reads: From our Articles / FAQs::

· What is an SIP, STP and SWP?

· How to be a smart investor?

· How are mutual fund schemes selected after my risk profile analysis & how are my mutual funds portfolio structured by Wealth Central advisors?

· How to get in touch with Wealth Central?

Faqs

Every industry has multiple avenues and every sector has multiple options - be it products or services. Similarly once you decide to invest in mutual funds or equities, the moment you enter a sentence about it in the search box, multiple options come one screen and that might throw you off and confuse you. There are always advantages and disadvantages in any option. While we do not believe in talking ill about anyone else in the industry, we can definitely throw some light on why we are better.

 Wealth Central was started in 2018, and within a short span of time, reached many crores of assets under management, due to our efficient management of our client's investment, and effective service. We started with just two highly experienced people in the industry, and today we can proudly say that our client base is growing largely due to references given by existing clients, upon seeing our advice, returns on their investments, and our service.

 When an advisor is tied to a specific financial institution, and work on targets, there is a greater chance that meeting of their targets take priority over the growth of your investments. Few years from now, the advisor who advised a specific fund to you might have even resigned to join some other similar institution, after which he / she might start selling a different product, leaving you in a soup. Further, since selling of mutual funds is not the main product, there is a good chance that your advisor is not as experienced as the independent advisors of Wealth Central. With thousands of mutual funds in the market, it takes experience, expertise and various metrics to understand your specific need and financial goal to ensure that proper allocation is done on your investments. Diversification is the key. However, without an independent advisor, if you choose to opt for a specific financial institution, then good or bad, you will be pushed to invest only on the product of that one particular fund house, thereby limiting your choices, and increasing your exposure to very high risks.

Our advisors know everything about our clients - where they are, what they do, who are in the family, what the immediate financial need is, what the future financial need is, who in the family could be prone to emergencies and what funds to be allotted for that, where they work, what is the required plan for their children, their retirement etc. This is very essential for arriving at proper investment suggestions. A seasoned advisor could help you with all the required formalities, recommend suitable schemes, clarify your queries, keep track of your investments and provide timely portfolio restructuring or sell recommendations. These things are extremely important to create wealth over a long period.

Similar to how you choose other professionals in your life, like your doctor, your advocate, your auditor and so many others, choosing a proper financial advisor is also very important - this is no less a professional service, and when chosen properly, the beneficiary is you - just you!

Related Reads: From our Articles / FAQs::

· How are mutual fund schemes selected after my risk profile analysis & how are my mutual funds portfolio structured by Wealth Central advisors?

 · Why do you need a financial advisor?

· How to be a smart investor?

· How to get in touch with Wealth Central?

Faqs

Every industry has multiple avenues and every sector has multiple options - be it products or services. Similarly once you decide to invest in mutual funds or equities, the moment you enter a sentence about it in the search box, multiple options come one screen and that might throw you off and confuse you. There are always advantages and disadvantages in any option. While we do not believe in talking ill about anyone else in the industry, we can definitely throw some light on why we are better.

Wealth Central was started in 2018, and within a short span of time, reached many crores of assets under management, due to our efficient management of our client's investment, and effective service. We started with just two highly experienced people in the industry, and today we can proudly say that our client base is growing largely due to references given by existing clients, upon seeing our advice, returns on their investments, and our service.

In the direct based investment model, investment could be done directly thru the fund house, whereby the commission expenses of around 0.50 to 0.80% could be saved. Alternatively, there are also advisors who charge a fixed amount per month, and still invest directly thru the fund house, where the fixed amount is also lesser than the commission expenses of around 0.50 to 0.80% - they might show you fancy graphs and charts translating how much you can save by avoiding the commission expenses. However in both these cases - one key factor is completed ignored and avoided - the „advisory? part.

While it is true that you could save around half percent or a bit more, what you gain could translate to up to 3% more than investing thru direct model - simply because the investors make more informed decisions; and the interests of the investors became the interests of the advisors. It is not difficult to understand how the sincerity and the efficiency in monitoring your investments would be done by someone who does not get paid / gets paid a fixed amount versus someone who gets paid a commission entirely 'based on your wealth creation'. Our advisors know everything about our clients - where they are, what they do, who are in the family, what the immediate financial need is, what the future financial need is, who in the family could be prone to emergencies and what funds to be allotted for that, where they work, what is the required plan for their children, their retirement etc. This is very essential for arriving at proper investment suggestions.

Similar to how you choose other professionals in your life, like your doctor, your advocate, your auditor and so many others, choosing a proper financial advisor is also very important - this is no less a professional service, and when chosen properly, the beneficiary is you - just you!

Related Reads: From our Articles / FAQs::

· How are mutual fund schemes selected after my risk profile analysis & how are my mutual funds portfolio structured by Wealth Central advisors?

· Should you go for direct or advisory model of investing? Why should you choose an independent advisor like Wealth Central over your bankers or direct model advisors?

· What is the commission charged by Wealth Central? Are there any hidden charges? What's the catch? 

· Why do you need a financial advisor?

Faqs

Every industry has multiple avenues and every sector has multiple options - be it products or services. Similarly once you decide to invest in mutual funds or equities, the moment you enter a sentence about it in the search box, multiple options come one screen and that might throw you off and confuse you. There are always advantages and disadvantages in any option. While we do not believe in talking ill about anyone else in the industry, we can definitely throw some light on why we are better.

 Wealth Central was started in 2018, and within a short span of time, reached many crores of assets under management, due to our efficient management of our client's investment, and effective service. We started with just two highly experienced people in the industry, and today we can proudly say that our client base is growing largely due to references given by existing clients, upon seeing our advice, returns on their investments, and our service.

Many completely robotic portals and fund sites who do thousands of crores of businesses with automated investments and advisory models lack the personal touch that Wealth Central has. Our advisors know everything about our clients - where they are, what they do, who are in the family, what the immediate financial need is, what the future financial need is, who in the family could be prone to emergencies and what funds to be allotted for that, where they work, what is the required plan for their children, their retirement etc. This is very essential for arriving at proper investment suggestions. A seasoned advisor could help you with all the required formalities, recommend suitable schemes, clarify your queries, keep track of your investments and provide timely portfolio restructuring or sell recommendations. These things are extremely important to create wealth over a long period. We clearly know the duration for which we need to take the call, the amount that should be split between debt and equity based funds, the amount that should be invested on conservative and safer options, the amount on which a slightly greater risk could be taken to give a chance for earning greater returns and so on and so forth. Without this direct interaction, if planning is not done properly, then the loss would be yours.

Similar to how you choose other professionals in your life, like your doctor, your advocate, your auditor and so many others, choosing a proper financial advisor is also very important - this is no less a professional service, and when chosen properly, the beneficiary is you - just you!

Related Reads: From our Articles / FAQs::

· How are mutual fund schemes selected after my risk profile analysis & how are my mutual funds portfolio structured by Wealth Central advisors?

· Why do you need a financial advisor?

· What is the commission charged by Wealth Central? Are there any hidden charges? What's the catch? 

· How to be a smart investor?

· How to get in touch with Wealth Central?

Faqs

Our advisors would first have a discussion with you, to assess your financial goals, your risk appetite, your financial standing etc. after which a suitable asset allocation and investment plan would be provided to you, with details about suitable SIP / lump-sum investment, the suggestion duration etc.

A proper asset allocation is very important, and advisors of Wealth Central take meticulous care to ensure that investments are made according to the financial goals, risk appetite, age, commitments and other contributing factors pertaining to you. There are thousands of mutual fund schemes available in the market today. It is therefore crucial to ensure that the right group of investments is picked - that align with your goal, to ensure that profits are maximized and losses are minimized.

Market conditions that cause one asset category to do well often cause another asset category to have average or poor returns. By diversifying between asset categories with investment returns that move up and down under varying market conditions, an investor can protect against significant losses. Wealth Central helps you pick the right group of investments, and reduce the fluctuations of investment returns without sacrificing potential gain.

With able and experienced investment advisors who have close to two decades of experience in the markets, and advisors who are very well aware of the fluctuations of the markets, Wealth Central follows various analytics and metrics internally where various attributes of the investors are correlated with various funds in the markets to bring about an effective asset allocation plan. Related Reads: From our Articles / FAQs::

 · Check your risk appetite now!

 · What is the ideal market condition to start investing in mutual funds?

 · Why are mutual funds the best way to plan for your future?

 · How mutual funds are professionally managed, and how can investors trust them?

· How to get in touch with Wealth Central?

Faqs

After we talk to you, and we are clear about the suitable path to be taken, to grow your wealth, based on our discussion about your financial goals, your risk appetite, your financial standing etc. we will collect your PAN. We would instantly verify and let you know if there you are KYC compliant or not.

 SEBI has prescribed certain requirements relating to KYC norms for Financial Institutions and Financial Intermediaries including Mutual Funds to „know? their Clients. Applicant must be KYC compliant while investing with any SEBI registered Mutual Fund. KYC norms are also mandated by the Prevention of Money Laundering Act (PMLA), to track the legality of funds used for investments. The Mutual Fund Industry in turn has appointed CDSL Ventures Limited (CDSL), to carry out the KYC compliance procedure. Individual investors should produce proof of identity and proof of address along with a photo. Non Individual Investors should produce certain other documents which would be explained by our advisors to you.

In case of joint holders (including first, second and third if any) - ALL the joint holders must be be individually KYC compliant before they can invest with any Mutual Fund. In case of minors, the Guardian should be KYC compliant. In case of PoA holder, both the power issuer adn the power of attorney holder should be individually KYC compliant. If you are proposing a nominee(s), the nominee need not be KYC compliant.

Related Reads: From our Articles / FAQs::

· How to get KYC compliant? Why does Mutual Fund require another KYC?

 · How to get in touch with Wealth Central?

 · How do I use the Account Opening and Document Uploads page of Wealth Central? Do I have to upload all documents asked there?

· What is my eligibility to sign up and start investing? Who can invest in mutual funds? Can NRIs and foreign investors invest in mutual funds?

Faqs

A minor child is anyone under the age of 18, and they can invest in Mutual Funds, with the help of parents/legal guardians until the age of 18. In case of investment in the name of a minor child, the parent/guardian should be KYC compliant. We will collect the PAN of the parent/guardian and would instantly verify and inform you, on whether the parent/guardian is KYC compliant or not.

 Based on whether KYC is required or not, we would collect the suitable documents from you, and create an account for the minor, tagging the bank account of the parent/guardian. PAN is not compulsory for the minor child. The PAN of the parent/guardian is however mandatory to create the account.

Further, there cannot be any joint holders in the minor folios. The minor must be the sole account holder represented by the parent/guardian. The idea of allowing this with all stipulated restrictions, is to ensure that a proper investment goal for the minor is achieved by investing in Mutual Funds which could be used for their future education or wedding or other future expenses.

Related Reads: From our Articles / FAQs::

· How to get KYC compliant? Why does Mutual Fund require another KYC?

 · How to get in touch with Wealth Central?

· How do I use the Account Opening and Document Uploads page of Wealth Central? Do I have to upload all documents asked there?

· What do you need to know before you begin investing

Faqs

Once we have a discussion with you and decide on the investment pattern, we will collect your PAN and check if you are KYC compliant. Depending on whether you are KYC compliant or not, we would need few documents to create an account for you, which typ

Faqs

After we talk to you, and we are clear about the suitable path to be taken, to grow your wealth, based on our discussion about your financial goals, your risk appetite, your financial standing etc. we will collect your PAN. We would instantly verify and let you know if there you are KYC compliant or not.

SEBI has prescribed certain requirements relating to KYC norms for Financial Institutions and Financial Intermediaries including Mutual Funds to „know? their Clients. Applicant must be KYC compliant while investing with any SEBI registered Mutual Fund. KYC norms are also mandated by the Prevention of Money Laundering Act (PMLA), to track the legality of funds used for investments. The Mutual Fund Industry in turn has appointed CDSL Ventures Limited (CDSL), to carry out the KYC compliance procedure. Individual investors should produce proof of identity and proof of address along with a photo. Non Individual Investors should produce certain other documents which would be explained by our advisors to you. In case of joint holders (including first, second and third if any) - ALL the joint holders must be be individually KYC compliant before they can invest with any Mutual Fund.

In case of minors, the Guardian should be KYC compliant. In case of PoA holder, both the power issuer adn the power of attorney holder should be individually KYC compliant. If you are proposing a nominee(s), the nominee need not be KYC compliant.

Related Reads: From our Articles / FAQs::

 · How to get KYC compliant? Why does Mutual Fund require another KYC?

· How to get in touch with Wealth Central?

 · How do I use the Account Opening and Document Uploads page of Wealth Central? Do I have to upload all documents asked there?

 · What is my eligibility to sign up and start investing? Who can invest in mutual funds? Can NRIs and foreign investors invest in mutual funds?

Faqs

A minor child is anyone under the age of 18, and they can invest in Mutual Funds, with the help of parents/legal guardians until the age of 18. In case of investment in the name of a minor child, the parent/guardian should be KYC compliant. We will collect the PAN of the parent/guardian and would instantly verify and inform you, on whether the parent/guardian is KYC compliant or not.

 Based on whether KYC is required or not, we would collect the suitable documents from you, and create an account for the minor, tagging the bank account of the parent/guardian. PAN is not compulsory for the minor child. The PAN of the parent/guardian is however mandatory to create the account.

Further, there cannot be any joint holders in the minor folios. The minor must be the sole account holder represented by the parent/guardian. The idea of allowing this with all stipulated restrictions, is to ensure that a proper investment goal for the minor is achieved by investing in Mutual Funds which could be used for their future education or wedding or other future expenses.

Related Reads: From our Articles / FAQs::

· How to get KYC compliant? Why does Mutual Fund require another KYC?

· How to get in touch with Wealth Central?

· How do I use the Account Opening and Document Uploads page of Wealth Central? Do I have to upload all documents asked there?

· What do you need to know before you begin investing

Faqs

First, pick up the phone and call our advisors. We do not encourage random account creation by you without actually knowing the details about your financial goals, your risk appetite, your financial standing etc. Once we are clear about the suitable path to be taken, to grow your wealth, we will create the account for you, after which you can start investing. Depending on whether you are KYC compliant or not, we would need few documents to commence transactions.

If you are not KYC complaint, we would need a duly filled and signed KYC form, FATCA form, PAN and Aadhar self-attested and a photo to complete the KYC process. Once KYC is approved or, if you are already KYC compliant, we would then proceed with account opening for which we would need your basic personal particulars, account opening form, bank mandate form, and a cancelled cheque from your primary bank account to enable commencement of transactions. Please note that KYC for mutual funds is different from that done already for your bank accounts.

 Related Reads: From our Articles / FAQs::

· How to get KYC compliant? Why does Mutual Fund require another KYC?

· Why am I unable to create my own username and password? Why should I give details for my account and then wait for Wealth Central to provide me my login?

· How to get in touch with Wealth Central?

· How do I use the Account Opening and Document Uploads page of Wealth Central? Do I have to upload all documents asked there?

Faqs

There are no restrictions on who can invest in mutual funds. Any individual, even minors and NRIs, can invest in Indian mutual funds. Not just individuals, any legal entity such as partnerships, corporates, and HUF can all invest in mutual funds. There are certain rules regarding investment by minors - like having a guardian, linking bank account of guardian, linking PAN of guardian etc. Similarly, there are some rules for investments by NRIs, which also depends on the country where the NRIs reside, and the schemes in which they invest in. Non-Indians and foreigners cannot however invest in mutual funds, in their individual capacity. As for your eligibility, if you have money and are interested in growing your wealth, you are eligible to invest!

Related Reads: From our Articles / FAQs::

 · Who can invest in mutual funds?

 · What do you need to know before you begin investing

· How can I invest in a minor?s name?

· How to be a smart investor?

· How to get in touch with Wealth Central?

Faqs

To commence investments, certain basic personal particulars like your name, age, address, contact information, PAN etc are required by the concerned authorities, after which account shall be opened for you. Now, that is the mandatory part. Other than that, to what extent do you retain your privacy and to what extent do you share information with your advisors?

First, Wealth Central has a robust and secure online platform, where your personal particulars are safe and secure. Not even all the staff of Wealth Central has access to this information. We are known for our appropriate and respectful use and storage of our data, and associated personal and sensitive information. Your investment data has two layered security and both these layers of servers use the Secure Sockets Layer (SSL) protocol, which is the security standard used by top financial institutions.

Next, for transactions, the transit of your money during transfer happens directly from your bank account to your fund account, without the money ever hitting any of our accounts or servers. Once transaction is complete, using various feeds your investment data is picked up from BSE / CAMS and is then displayed to you in your reports, which is why you are able to see all valuation as on date.

Similar to how you choose other professionals in your life, like your doctor, your advocate, your auditor and so many others, choosing a proper financial advisor is also very important - this is no less a professional service, and when chosen properly, the beneficiary is you - just you! Rest assured, you can be confident that you are a part of our family and all due care would be taken to your personal details, your financial standing, your financial goals and your expectations. That being said, unless we get the complete picture, our advice might not end up meeting your goals. When we have our initial discussion, our advisors has to know everything about our clients - where they are, what they do, who are in the family, what the immediate financial need is, what the future financial need is, who in the family could be prone to emergencies and what funds to be allotted for that, where they work, what is the required plan for their children, their retirement etc. These financial related personal information that you share is not stored anywhere - it is only used for arriving at proper investment suggestions. We respect our client's sentiments and make sure that not everything is robotically dumped in the system.

Related Reads: From our Articles / FAQs::

· How to start investing with us? What is paperless investing?

· How do I create my account and start investing through Wealth Central? What are the details and documents required for opening an account with Wealth Central?

· What happens to my investments if something should happen to Wealth Central?

 · What do you need to know before you begin investing

· How to get in touch with Wealth Central?

Faqs

Short answer is yes. However this does require a longer answer!

After we talk to you, and we are clear about the suitable path to be taken, to grow your wealth, based on our discussion about your financial goals, your risk appetite, your financial standing etc. we will collect your PAN. We would instantly verify and let you know if there you are KYC compliant or not.

If you are KYC compliant we can get the scanned copy of account opening form, mandate and your cancelled cheque, and proceed with creating an account for you, after which you can commence transactions. If however, you are not KYC compliant, then we would need few documents from you, along with a photo, and that is not paperless.

 Further, during the course of your investments, in case you want to change your personal particulars, contact information, or give additional requests like adding a nominee or changing your bank account or any other financial or non-financial material change, then that would also need a filled form with signature as a hard copy to be processed.

Essentially, if you are KYC compliant and a basic account is to be opened, we can proceed in a paperless and entirely digital format.

Related Reads: From our Articles / FAQs::

· How to start investing with us? What is paperless investing?

· How do I create my account and start investing through Wealth Central? What are the details and documents required for opening an account with Wealth Central?

· What do you need to know before you begin investing

 · What functionalities does Wealth Central's website provide me with, after creating my account? When will I get my username and password to start using my account?

· How to get in touch with Wealth Central?

Faqs

Yes, you can.

Some particulars can be updated online with or without OTP verification depending on what is being changed. Certain others would need a filled up form or a written letter, along with your signature as a hard copy. Once these are submitted, processing time could take anywhere from 72 hours to up to three weeks, depending on what your request is, and what is being changed.

Most of the personal details like your address, mobile number, email, income particulars etc can be changed without much hassle. The bank account that you tie up your investments with, can also be changed. Once that change is done, further transactions will happen in the new bank account - even if you redeem your investments that were done earlier from your old account, the new redemption proceeds will come only to the new bank account. So whether you want to close your bank account, or shift your residence or change your contact information - all these can be easily updated in your folio.

Your investments are tied primarily to your PAN. So, if you are doing a material change like change of PAN or change of name, date of birth etc due to some earlier error, then current investments should be redeemed, new details to be obtained, new KYC to be taken, and after all verification processes are completed, you have to reinvest.

Related Reads: From our Articles / FAQs::

 · How do I create my account and start investing through Wealth Central? What are the details and documents required for opening an account with Wealth Central?

· How to get KYC compliant? Why does Mutual Fund require another KYC?

· How do I buy / invest in mutual funds? How do I pay for my investments?

 · Why am I seeing more information about Mutual Funds in many sections on this website, in spite of Wealth Central offering other products?

· How to get in touch with Wealth Central?

Faqs

Yes, you can.

 Prior to investing in a mutual fund, it is mandatory to provide your bank account details. Once you are already KYC compliant, we would then proceed with account opening for which we would need your basic personal particulars, account opening form, bank mandate form, and a cancelled cheque from your primary bank account to enable commencement of transactions. The bank from which you give your cancelled cheque would be your primary bank. More than one bank could also be registered to your account, using which you can invest.

 If you want to change your bank account information, then a form called as 'change of bank mandate form' should be submitted for each fund house, along with a cancelled cheque leaf of the old and the new bank. It is mandatory for your name to be printed on the cheque leaf for this process to get approved. It typically takes about a week for the authorized agencies to get this change done, after which the new bank account would become functional. Once that change is done, further transactions will happen in the new bank account - even if you redeem your investments that were done earlier from your old account, the new redemption proceeds will come only to the new bank account.

Related Reads: From our Articles / FAQs::

 · How do I create my account and start investing through Wealth Central? What are the details and documents required for opening an account with Wealth Central?

· How do I buy / invest in mutual funds? How do I pay for my investments?

 · What is a bank mandate and how do I generate my bank mandate? What is the transfer limit mentioned in the bank mandate?

 · How is Wealth Central different from investing through my bank?

· How to get in touch with Wealth Central?

Faqs

A bank mandate is a legal document that gives authority to your bank to act on your behalf and transfer the amounts to the specified and registered account within certain pre-determined transfer limits. The transfer limit is the maximum amount that could be withdrawn from your bank account and be moved to your fund account, with a one click approval from you. Any approval or transaction beyond the specified limit would be rejected. This is like a standing instruction to your bank, to approve payments to the fund account, but each time has to be approved by you.

This mandate would be registered at the time of account opening and before commencement of transactions. If however, the mandate was not registered during account opening, it can also be done on any future dates. There are no restrictions in the number of mandates. Similarly, if you have more than one bank account tagged, you can also registered mandates for one or more of these accounts.

There are two types of mandates - First is called as the i-mandate (available only to select banks), where the maximum amount of transaction is only 1 lakh and one that takes a week to get approved. Second is called as the Nach Mandate, where the maximum limit could go up to 1 crore. It typically takes about 3 weeks to get approved.

Related Reads: From our Articles / FAQs::

· How do I create my account and start investing through Wealth Central? What are the details and documents required for opening an account with Wealth Central?

· How do I buy / invest in mutual funds? How do I pay for my investments?

· What is an SIP, STP and SWP?

· How is Wealth Central different from investing through my bank?

· How to get in touch with Wealth Central?

Faqs

Our advisors would first have a discussion with you, to assess your financial goals, your risk appetite, your financial standing etc. after which a suitable asset allocation and investment plan would be provided to you. Your ongoing investments would not be disturbed if it aligns with your goals and return expectations. It is under very rare circumstances (only in the scenario where the ongoing asset allocation or investment pattern totally contradicts your financial goals), that we advice our clients otherwise.

That being said, all with regard to mutual funds, your earlier investments would be treated as private and confidential to you, and as per various prevailing rules, cannot be clubbed in to the investments made via Wealth Central. We would therefore not be able to see your past investments. Further, importing the same is not possible, in the case of mutual funds. However, your direct equity investments can be clubbed in our login and the same can be seen in the reports by you and us.

 Related Reads: From our Articles / FAQs::

· How do I create my account and start investing through Wealth Central? What are the details and documents required for opening an account with Wealth Central?

· What happens to my ongoing SIPs and other current investments if I start having Wealth Central as my advisor now?

· How is Wealth Central different from investing through my bank?

· How to get in touch with Wealth Central?

Faqs


Once we have a discussion with you and decide on the investment pattern, we will collect your PAN and check if you are KYC compliant. Depending on whether you are KYC compliant or not, we would need few documents to commence transactions.

If you are not KYC complaint, we would need a duly filled and signed KYC form, FATCA form, PAN and Aadhar self-attested and a photo to complete the KYC process.

 Once KYC is approved or, if you are already KYC compliant, we would then proceed with account opening for which we would need your basic personal particulars, account opening form, bank mandate form, and a cancelled cheque from your primary bank account - all filled, signed and scanned (hard copies not required) to enable the account opening process.

This account opening process takes only around 15 minutes. Your information would be verified at the backend and once the verification is done, you can start investing. The online process of investing in mutual funds is easy, quick, and hassle-free and therefore preferred by most investors.

Related Reads: From our Articles / FAQs::

· How to get KYC compliant? Why does Mutual Fund require another KYC?

· Why am I unable to create my own username and password? Why should I give details for my account and then wait for Wealth Central to provide me my login?

· How do I use the Account Opening and Document Uploads page of Wealth Central? Do I have to upload all documents asked there?

· How to get in touch with Wealth Central?

Faqs

Once we have a discussion with you and decide on the investment pattern, we will collect your PAN and check if you are KYC compliant. Depending on whether you are KYC compliant or not, we would collect the appropriate documents and complete account opening process, which takes only around 15 minutes. Your information would be verified at the backend and once the verification is done, you can start investing.

 As soon as your first investment kicks in, we would send you the username and password using which you can access your account, access your personal profile screen, change your password, add new family members, remove family members, monitor your login statistics, do your financial planning, set your goal and track it, review your portfolio, check the factsheets and statistics of various funds and have complete online control and tracking of all your investments.

You can place orders online for your new investments, track your investments any day and the latest NAV would be reflected in your reports. There are also many options given to you, for your convenience, for seeing and interpreting these reports. You can choose category-wise, or fund-wise, or overall - with or without graphs - with or without explanations and fund statistics while viewing your portfolio.

 You can track just your investments or can combine your family members every time you login to monitor your portfolio. Further, you can see the reports for any particular period, or see the valuation on any particular date, and download the reports in various formats. You can also print or email the reports directly from your login.

You can also add your past and current direct equity portfolio and your insurance information, which would be combined with your mutual fund portfolio, thereby giving you an overall financial standing report. Other related reports like the capital gains statements are also available on our website, and again you can pick the period, choose the funds and view, print, download or email the statements.

 Related Reads: From our Articles / FAQs::

 · Why am I unable to create my own username and password? Why should I give details for my account and then wait for Wealth Central to provide me my login?

· How is Wealth Central different from investing directly through specific fund portals?

· Are capital gains applicable? How do I calculate the capital gains of my investments? Will you send me the capital gains statement and reports?

 · Should I maintain a list of all transactions made by me or is there a way to see the past transactions as well? If so, where can I view my historical transactions?

 · How to get in touch with Wealth Central?

Faqs

As soon as the order is placed, and payment is done, then by end of the day we would get a confirmation about receipt of funds. However, the allotment of fund units would still be pending. The fund units usually get allotted to you on the next working day after the payment is through. The feeds from the exchange and fund house come 1-2 days after that, once the folio is created.

 Our reports and statements are tied to the feeds, and once your folio is created, your investments would be reflected in your portfolio, under the 'reports' tab.

You can track your investments any day and the latest NAV would be reflected in your reports. There are also many options given to you, for your convenience, for seeing and interpreting these reports. You can choose category-wise, or fund-wise, or overall - with or without graphs - with or without explanations and fund statistics while viewing your portfolio.

You can track just your investments or can combine your family members every time you login to monitor your portfolio. Also you can see the reports for any particular period, or see the valuation on any particular date, and download the reports in various formats. You can also print or email the reports directly from your login. Other related reports like the capital gains statements are also available on our website, and again you can pick the period, choose the funds and view, print, download or email the statements.

 Related Reads: From our Articles / FAQs::

· Why am I unable to create my own username and password? Why should I give details for my account and then wait for Wealth Central to provide me my login?

· How is Wealth Central different from investing directly through specific fund portals?

 · Are capital gains applicable? How do I calculate the capital gains of my investments? Will you send me the capital gains statement and reports?

 · Should I maintain a list of all transactions made by me or is there a way to see the past transactions as well? If so, where can I view my historical transactions?

· How to get in touch with Wealth Central?

Faqs

None. With regard to mutual funds, we do not charge you anything for our advice and services. All our services are absolutely free for our clients. There are no charges for account opening, no monthly payments, no annual maintenance, no transaction costs and absolutely nothing would be charged by Wealth Central. Our payments are in the form of commission from the fund house - the Asset Management Companies (AMCs).

With regard to mutual funds, there are 4 kinds of commission - from the client, an upfront commission, trail commission and a onetime transaction charge. Charging the client is optional. Upfront commission does not happen anymore. Wealth Central has given a written consent to waive the one time transaction charge as we do not want to charge our clients in any way. So, that leaves trail commission, which is what we get. Essentially a part of your investment is allocated for expenses of the fund house, and a portion of it is being paid to us by the AMCs. Trail commission ranges from 0.20% to 0.90% per year based on various products, and are designed to motivate advisors to recommend funds in their clients? best interest, as this commission is entirely based on the value on your investment. If your investment value goes down, then we also take a hit. If your investment value goes up, we get paid better. This is also the reason why, investing vide advisors like Wealth Central ends up being more beneficial to you. Zero charges, and no hidden costs.

 For direct equity, however, we charge a commission directly from our clients, and that would vary based on various factors. If you are investing in direct equity, you can get in touch with us directly to discuss about our commission structure.

 How can we survive with a meager half and one percent? - First, this is a business where volume counts. Second, we are able to provide excellent services due to our internal structure and cost management. We have automated most of our processes starting from opening an account to placing an investment order. We also do not have our office in a posh locality with marble flooring and fancy woodwork. We do not have multiple physical branches or dozens of employees hanging around. Wealth Central clearly planned for what is essential to serve our clients. We have a robust and secure online platform, an excellent customized research and advisory team, advanced and scalable operational model, and a small but highly efficient team - and the beneficiary of all these is you!

 Related Reads: From our Articles / FAQs::

· How is Wealth Central different from 'direct' based investment advisors?

· Why am I seeing more information about Mutual Funds in many sections on this website, in spite of Wealth Central offering other products?

 · How does Wealth Central help me grow my money?

· How can you determine whether your advisor is good?

· How to get in touch with Wealth Central?

Faqs

Once we have a discussion with you and decide on the investment pattern, we will collect your PAN and check if you are KYC compliant. Depending on whether you are KYC compliant or not, we would need few documents to create an account for you, which typically take around 15 minutes, immediately after which you can start investing.

Once your account is created, you will have access to your login username of our website, using which investments could be made. There are provisions in your login to invest online. Once you choose the fund details and the order is placed in the exchange, you would receive an email with a link to make the payment. Unless you insist, we usually do this order creation process and send you the link, to save your time and to ensure that the correct funds are selected. Once you get that email from the exchange, you can cross-check the amount, fund name and then proceed to making the payment.

 If your mandate is approved, then the payment can be made with a single click. You can read below on what a mandate is. If it is not yet approved, then options for paying through your bank account would also be there in the payment link that you receive. You can login to you net-banking of your registered bank account and complete the payment process.

Related Reads: From our Articles / FAQs::

· How to get KYC compliant? Why does Mutual Fund require another KYC?

 · How do I use the Account Opening and Document Uploads page of Wealth Central? Do I have to upload all documents asked there?

· What is a bank mandate and how do I generate my bank mandate? What is the transfer limit mentioned in the bank mandate?

· How can I track my investments? Can I generate printable reports of my portfolio?

· How to get in touch with Wealth Central?

Faqs