August 17th, 2018

Survey Question

Mutual Fund Software Survey

Survey Options
  • OFA
  • Red Vision
  • Wealth Magic
  • IFA Planet
  • Investwell
  • NJ/ Prudent
  • Finnsays
  • NA
  • Others
Survey Respondents
  • 119
  • 89
  • 60
  • 55
  • 41
  • 34
  • 36
  • 142
  • 170

Summary of Survey
Over 700  IFAs participated in the survey. There are over 20 different software which are being used by IFAs. It is difficult to recommend one single software. While it seems that Investwell and Redvision scores high on features and IFA ranking but the maximum installations belong to OFA mostly because of lower price point. Prudent’s Fundzbaazar and NJ’s Partner desk are also quite popular among IFAs who are working as partners of these national distributors.

April 25th, 2018

Survey Question

Which Online Platform IFAs are using?

Survey Options
  • NSE
  • BSE
  • MFU
  • Others
  • Total Respondents
Survey Respondents
  • 148
  • 213
  • 146
  • 139
  • 646

Readings from the survey

IFAs are mostly dividend on the online platforms they are using. Among the respondents, BSE Star leads the way, though NSE and MFU are not far behind. Among other platforms, NJ and Prudent (National Distributors) are leading the way. Given below are some questions asked by IFAs while responding -:

Please suggest which online platform is the best

Difficult to say as of now. I have discussed this with many IFAs across the country, including some of the best minds in technology. IFAs are clearly divided and there is no single choice as of now.

Please suggest me which one I should go for

My suggestion is to take a demo of all three platforms and decide for yourself.

Is it a must to use an online platform?

No. But I would strongly recommend to start using some online platform. It will help you scale things up.

Should I use individual AMCs online portal?

Yes you can. But I don’t think that’s the right solution. Using different AMCs individual platform will become complicated for clients as well as you. It is better to use an integrated independent platform.

Which online platform we (Dalmia Advisory) are using?

We are using NSE platform. Please don’t treat this as my endorsement as of now. It will take a while before all these platforms will become seamless. Currently, there are challenges on all the platforms.


October 26th, 2017

Survey Question

After commission disclosure statements reaching your clients, how many of them wanted to discuss about it with you.

Survey Options
  • No Clients discussed
  • Less than 5 Clients
  • 6-10 Clients
  • Above 10 clients
  • Total Respondents
Survey Respondents
  • 107
  • 289
  • 13
  • 12
  • 421

Readings from the survey

– The survey clearly indicates that while there was a lot of apprehension in the mind of IFAs about response of clients after commission disclosure statements reaching them; the results indicate that client’s response was muted. This suggests that the perception of risk was higher than anticipated.

– However, it may be early days to gauge to actual impact. This is because many clients may not have opened / seen the commission disclosure statements or may not have clearly understood the impact.

October 3rd, 2017

Survey Question

Which mutual fund software do you use? Are you happy with your software?

Survey Options
  • Red Vision
  • Investwell
  • NJ
  • Others
  • Total Respondents
Survey Respondents
  • 35
  • 26
  • 21
  • 60
  • 142

Total respondents – 142

  • Red Vision- 35
  • Investwell -26
  • NJ- 21
  • Fin Sys- 19
  • Other -10
  • Subchintak- 7
  • Wealth Magic- 7
  • Funds Magic- 7
  • Prudent- 6
  • Optimum- 4

Red Vision

35 out of 142 IFAs who responded use Red Vision software. Most of them are satisfied with the software. A lot of IFAs have rated this software as 7 or 8 out of 10. Some of the concerns were:-

  • – Lacks IRR Calculations.
  • – Sales support needs to be improved.
  • – Financial planning module should be improved.
  • – Loan portfolio should be added.
  • – Family wise SIP data not perfect.


26 out of 142 IFAs who responded use Investwell Software. Most of them are satisfied with the software. One of the main feature is multiple asset/product information can be fed in the software. Some of the concerns were:-

  • – Service concerns.
  • – Using old technology.

NJ Funds Platform Software

21 out of 142 IFAs who responded use NJ Funds Platform Software. Except a few, most of them are extremely satisfied with the software. The software is user friendly and helps an IFA to focus on sales. There were no major concerns given by any IFA.


19 out of 142 IFAs who responded use Finsys Software. The views are split. Some IFAs are satisfied with the software. Most IFAs expressed concerns about the software and not very happy about it. Some of the concerns were:-

  • – Slow.
  • – Benchmark Index returns not provided.
  • – Online feature needs improvement.


7 out of 142 IFAs who responded use Shubhchintak Software. Mixed response on safistaction. Support provided is good.

Wealth Magic by Datacomp

7 out of 142 IFAs who responded use Wealth Magic Software. All IFAs who responded are satisfied with the software.

Prudent Partner Desk

6 out of 142 IFAs who responded use Prudent Partner Desk Software. All IFAs who responded are happy with the software.

Note & Disclaimers: The summary of the survey reflects the views of IFAs across the country and not the publisher of the survey results. This analysis and report doesn’t recommend any particular software. No liability is assumed for the survey results.

September 26th, 2017

Survey Question

Considering the gap between ‘Direct’ and ‘Regular’ plan and the expected direction that trail may come down over a period of time, what do you think is a good trail for long term which can help you sustain in this business.

Survey Options
  • 0.25% to 0.45%
  • 0.50% to 0.70%
  • 0.75% to 0.95%
  • 1.00% & above
  • Total Respondents
Survey Respondents
  • 19
  • 98
  • 68
  • 39
  • 224

As is evident from the response received from IFAs across the country, most of them feel that a trail of 0.50% – 1.00% is reasonable for them to sustain in Mutual Fund Distribution business for long term.

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