Partner Helpdesk

How to process Change of Broker

Simplified way to download the pre-filled change of broker forms for clients in one click, which needs to be printed for a signature from the client. The forms can be submitted in the nearest CAMS/Kfintech branch or couriered to us, which will be processed with the AMC. 

Refer to the below steps on how to download the pre-filled form -

Step 1:

The Funds need to be imported via CAS, for the details would be pre-filled. Refer to the article for the CAS upload - https://assetplus.freshdesk.com/a/solutions/articles/44001873009.

Step 2:

Once the holdings are successfully imported, follow the below pathway to generate the pre-filled form.

Partner Homepage --> Reports Section → Business Reports Section → Change of Broker Report Section

Notes :

1.   The pre-filled COB form includes the AMC name, investor’s name, PAN, and new broker details, EUIN,     Sub  broker ARN, the folio and scheme name (External folio)

2.   Partner/RM/Client must fill out the folio and scheme name manually in case the particular folio details are not available in CAS

3.   The signature of the investor is mandatory (For anyone or survivor, joint holder's signature will be applicable)

4.   Upon receiving the documents, the operations team will verify the folio details (PAN, Investor Name and Folio, Scheme option)

5. Once the details are verified, sent the documents for processing with the AMC which will take 7-15 working days for completion. 

6. The detailed tracking can be viewed easily via "Ongoing Requests" under the change of broker report, once the process is completed at the AMC's end, it will be reflected as "Accepted" and the holdings will be updated for the client.

7.  If it's rejected, it will be reflected under the "Rejected requests" the team will follow up with AMCs to obtain the reason for rejection and communicate it to the respective partner/relationship manager. 

      Once the COB process is completed, the subsequent SIP unit allotments will be reflected under the broker code. Note: If the SIP is registered via a channel like BSE/NSE/Bank for which the SIP needs to be cancelled and registered via AssetPlus. 

Rejection Reasons:

a) Sign not tallied (Signature should match with the folio records)

Resolution - Banker attestation form needs to be provided along with the self attested Pan and Fresh Change of broker form

b) Nil balance

Demat Folios -After the AUM transfer; the assets will be visible on our dashboard under Value Plus Technologies ARN. Subsequent transactions (purchases and redemptions) for that folio must be initiated through DP only. Clients can place orders or initiate transactions via our portal, which will result in the creation of a new folio. Existing SIP’s registered through Online / Exchange needs to be terminated at the time of submission of documents to Assetplus. 

Systematic Transactions:

SIP / SWP / STP - Registrations made through Online/Exchange must be terminated and re registered on our portal. 

SIP / SWP / STP - Registrations made through physical will remain active under the Value Plus Technologies ARN post AUM transfer.