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 & Important Guidelines:

• The pre-filled PCOB form includes:

  • Investor Name

  • PAN

  • Folio Number

  • Scheme Name

  • New ARN details (ARN Number, ARN Name, Sub-broker ARN, EUIN)

• Partner / RM / Client must manually fill:

  • Old Broker ARN Number

  • Old Broker ARN Name

• In cases where a particular folio or scheme is not available in CAS, the folio number and scheme name must be filled manually.

• Investor signature is mandatory:

  • For Anyone or Survivor holdings, the applicable holder’s signature is required.

• EUIN signature is mandatory on the form.

• Upon receipt of documents, the OPS team will verify the folio details (PAN, Investor Name, Folio Number, Scheme and Option).
  
  

• Once verified, the documents will be submitted to the respective AMC for processing.

  • The AMC processing timeline is typically 11–15 working days.

  • Investors will receive SMS communication from the RTA upon receipt of the request.

  • If no objection is received from the investor, the request will be processed within the defined TAT.

• Request status tracking:

  • Progress can be tracked under “Ongoing Requests” in the Change of Broker Report.

  • Once processed successfully by the AMC, the status will reflect as “Accepted”, and the client’s holdings will be updated accordingly.

• Rejected requests:

  • If rejected, the request will appear under “Rejected Requests”.

  • The Operations team will coordinate with the AMC to identify the reason for rejection and communicate the same to the respective Partner / Relationship Manager.

Rejection Reasons:

a) Sign Mismatch (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

c) Old Broker details mismatch

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. 

FAQ's:

1. What is the extended cooling-off period for PCOB (Change of Distributor)?

• The cooling-off period for payment of commission has been extended from six months to twelve months.

2. When does the new distributor become eligible for trail commission?

• Trail commission to the new distributor is payable only after a 12-month cooling-off period, starting from the date the distributor code change is recorded in the investor’s folio.

3. What happens if an investor reverses the PCOB within the 12-month cooling-off period?

• If the investor revokes the existing PCOB and initiates a new one, the 12-month cooling-off period will restart from the date the new PCOB is updated in the folio.

4. Has AMFI introduced any new format for PCOB requests, and is there an online process available?

• Yes, AMFI has introduced a new format—Annexure A—for PCOB requests.
  The form requires the investor’s wet signature, which will be verified before the change is processed.

• Currently, no online self-service process is available for investors to initiate PCOB; the process is handled manually through submission of the signed form to the RTA or concerned AMC.

5. Will any communication be sent to the investor regarding the PCOB request?

• Yes, the investor will receive an SMS notification from the RTA on T+1 day after the PCOB request is received.

6. What message is sent to the investor as part of the PCOB request process?

• "We have received your request for Change of Distributor from (Old ARN name) (Code) to (New ARN name) (Code). If you have not requested this change, please email us within 3 days."

7. What happens if the investor does not respond to the PCOB communication?

• If no complaint is received from the investor by T+11, the PCOB request will be processed as valid, and communication will be sent to both the old and new distributor (broker) codes confirming the change.

8. What is the effective date for the implementation of the revised PCOB process and guidelines?

• The revised guidelines, including the 12-month cooling-off period and new form requirements, take effect on August 11, 2025.