MFIS is an Association of Mutual Funds in India (AMFI) registered firm.
MFIS facilitates you to invest smartly, appropriately and systematically based on your risk profile, thereby ensuring optimum returns on your investment.
Your investments with MFIS are 100 percent safe because you actually do not directly invest anything with MFIS. In fact, you invest your money in mutual funds or any other financial instrument only through MFIS. All your cheque payments are in the name of the fund houses and not MFIS. NO, repeat NO cash transactions are involved.
For near real-time tracking of your portfolio and transactions you can visit our website http://www.mftoday.com and log into it.
MFIS acts in a fiduciary capacity towards its clients and shall disclose all conflicts of interests as and when they arise. We shall act honestly, fairly and in the best interests of our clients and in the integrity of the market. We shall also act with due skill, care and diligence in the best interests of our clients and shall ensure that our advice is offered after thorough analysis and taking into account available alternatives based on risk profiling and suitability of the client.
We follow bank-grade three-tier security system where your data is secure in all three states - on server, at office and during the transit. The log in site uses the Hyper Text Transfer Protocol Secure (HTTPS), which is the secure version of HTTP. The 'S' at the end of HTTPS stands for 'Secure'. It means all communications between your browser and the website are encrypted.
If you are a KYC verified investor, payment made before 1400 hrs on a working day will be processed the same day. If the payment is made after 1400 hrs, then your investment will be processed on the next working day. If your KYC verification is pending, your investment process will begin once KYC formalities are completed. Typically, it takes about 24 hours to process your KYC from the time of you complete KYC successfully.
Mutual Fund companies that you invest in via MFIS charge Total Expense Ratio (TER) or fund-management fee. Usually, TER ranges from 0.5 to 2.25% of your investments in a mutual fund. For advice, facilitation and regular monitoring of your portfolio, the mutual fund companies share a proportion of TER with MFIS. Normally, the fees shared with MFIS ranges from 0.25 to 1.25% of your total investment amount. However, Association of Mutual Funds in India (AMFI) has recently issued instructions that they will discontinue this system in the coming years and the investment advisors are required to collect the fees directly from the clients. Accordingly, we are formulating a fee structure that we will host on the site and inform our then existing clients before its implementation.
Your investment accounts are held directly with Mutual Fund companies and hence there is no risk of you losing money in case MFIS closes down. You can continue to invest more or redeem from your existing investments with any particular mutual fund company.
Securities and Exchange Board of India (SEBI) has allowed the mutual fund distributors to use the Exchange infrastructure for facilitating mutual fund transactions for their clients using their online platform NMF II. As our esteemed clients, after initial one-time registration through us, NSE will issue you a unique Investor Identification Number (IIN). Once you log into our website and open your portfolio, you can easily use the facilities for subscription, redemption, Systematic Investment Plan (SIP), Systematic Withdrawal Plan (SWP), Systematic Transfer Plan (STP), Switch and other transactions of mutual fund units. Additional benefits available to you on this platform are single consolidated view of investments done through multiple brokers/distributors, single cheque for multiple investments and reduction in risk associated with paper.
FATCA stands for the Foreign Account Tax Compliance Act, a U.S. tax initiative that requires all financial Institutes (including Indian Mutual Funds) to report financial transactions of US persons including entities in which U.S. persons hold a substantial ownership, etc. to the relevant tax authorities. Investors are expected to provide details such as Country of Tax residence, Tax Identification Number from such country, Country of Birth, Country of Citizenship, etc. at the time of initial investment.