The Process of Internal AUM transfer involves transferring a client's assets under management (AUM) from one Partner to another, as long as both Partners are affiliated with the Asset Plus ARN.
Internal AUM Transfer can be done for all the investments of the clients from the old Partner to the new Partner.
- The Source Partner should send a confirmation mail for AUM Transfer to mf_ops@assetplus.io , NOC of both Source and Target partners.
- Once mail received, AssetPlus will send a communication to all impacted clients.
- Clients are requested to reply if they have objections within 15 days on the receipt of mail. After 15 days (if no objections are raised), we will Internally transfer the client from Source Partner to Target Partner.
SIP Transfer Between Partners and Brokerage:
We advise the partner to stop the existing SIP under the source ARN.
If not stopped, the SIP being registered under the source ARN, will not reflect in the new partner's SIP AUM or SIP count, even though the brokerage will be paid to the new partner.
The existing Partner's ARN and EUIN will continue to appear in the folios where transactions were originally executed using their details. For all new transactions made by the clients in new folios, the new Partner ARN and EUIN will be captured.