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Category: IFAnow – New Version Updates

All the latest IFAnow version release details can be found here.

Big update – Revamp of MIS section

Big update – Revamp of MIS section

We’re pleased to release our long awaited feature of revamping the MIS section. We’ve made a lots of improvements.
Here’s a quick roundup of the same:
  • High level analytics
    • Total AUM
    • Total Folios, average folio size
    • Folios not linked to goals
  • Drill down reports
    • AMC wise
      • E.g. this drill down will show you your total AUM across the top AMC. When you click on those, it will show the top categories under the selected AMC. When you click further, you will see the top sub category under the category. You can drill this down to the folio level detail.
    • Category wise
    • Client wise
    • Applicant wise
  • Top clients by value, top AMC by value, top categories by value and top sub categories by value
  • Last six months data of gross sales, redemptions and net sales in graphical format
We’re also working on the following improvements within the MIS section
  • Asset allocation reports
    • You can view asset allocation across for all your top clients and top AMC
  • Advanced MF search
    • You will be able to apply all kinds of logical filters to mine your MF data. This gives you complete control of what data you wish to have access to quickly.

We’ve got a strong pipeline of new features lined up over the coming 2-3 months. Here’s a quick round up for the same:

  • Complete revamp of mobile app
    • Goal tracking facility
    • Online transaction facility
    • Advisor login facility
    • Revamped portfolio tracker
  • Self AUM Reconciliation tool
    • View all unmatched folios at once
    • Automatic updation of unmatched folios with a click of a button
  • Email notifications
    • Client Reminders is coming back
    • Team/Advisor notifications for tasks, sales pipeline, action plan etc.
    • Client notifications – birthdays, new client creation etc.
  • Cash flow projection statement
    • For advanced financial planners
    • Complete life cash flow planning with what if analysis at multiple level
    • Gives you a great understanding of whether the client’s goals are achievable or not. Builds your conviction when advising your clients on critical matters.
  • BSE integration
  • Apart from this there are lots of refinements and bug fixes happening to existing modules on the fly
Q4 2018 roundup – Important updates in IFANOW

Q4 2018 roundup – Important updates in IFANOW

2018 was a landmark year for us at IFANOW. A bulk of our efforts went into stabilising and finetuning what we had already built. This ensures we have a fundamentally robust offering in the years to come.

Here’s a quick roundup of what we added in the last quarter of 2018.

  • Sundaram Auto Upload Enabled – We are excited to launch Sundaram Auto Upload facility.
  • Important Refinements to the Mutual Funds Reports Section
    • Mutual Fund Summary report
      • We now give you an option to save the default setting under Select Report Type option. You can now make it Investor wise or Category wise by default.
    • Mutual Fund Transactions report
      • We now give you an option to save the default setting under Select Report Type option. You can now make it Scheme wise, Investor wise or Category wise by default
    • Under Select Transaction View, you have options to further save these two settings
      • Unrealized report – Show Summary – yes or no
      • All transactions report – Show zero folios – yes or no
  • Save templates while generating financial plans – 
    • Some of the common sections in a financial plan like Index page, welcome note, disclaimer etc are always needed. We now allow you to save these as templates and reuse them whenever you want. This will save you time and increase efficiency.
    • Go to Client Section > Financial Plan > Generate Financial Plan > Manage Sequence Template.
  • Interlinking of Sales Pipeline and Tasks enabled
    • You add a sales pipeline to track a sales opportunity. Now, when the client agrees to it, you may want to initiate some activities around it. E.g. if investments need to be made in new MF folio then you may want to initiate the account opening process, do scheme selection etc. Our Task module is meant for such work only.
    • We now allow you to link a Task from within the Sales Pipeline tab itself. All the important info from the sales pipeline will be automatically added to the task. You can then assign due date to the task, assign it to your team and so on.
  • PDF output in Action Plans added
    • A new option available in Action Plans. You can download the Action Plans in PDF format.
  • Added “Select Transaction Type” filter in MF Transactions Report
    • We’ve added a filter that allows you to view only selected transaction types that you want to view.
    • Go to Client Section > Multi Asset View > Mutual Funds >  Transactions > Select Transaction View > All Transactions > Select Transaction Type
  • Miscellaneous Improvements
    • My Clients – Searching for Clients in ‘My Clients’ is now easier as you can search it with Name, Mobile no., or PAN card no.
    • Bills & Invoices – We now show scheme wise breakup while calculating Average AUM.
    • MF Reports – Added statutory disclaimer in the footer.
  • Safari Compatibility
    • We are excited to announce the compatibility of our portal on Safari
  • Grandfathering effect added to capital gains report
    • Under capital gains, we have added an option to view capital gains with grand fathering effect.
Save time with Interlinking of Sales Pipeline and Tasks

Save time with Interlinking of Sales Pipeline and Tasks

Your advisory practice is much more than just mutual fund transactions and reporting.

There are many more processes equally important. For instance, you may want to be on top of your critical Tasks assigned to your team, or ensure that your Action Plans outlined with your clients are on track, or for that matter your Sales Pipeline or Minutes of Meetings are under your control.

We understand that IFANOW’s Activity section is built to give you control over just that. Having built out these sections in isolation, we’re now taking it to the next level. Starting with allowing you to interlink Sales Pipeline and Task. Here’s how it works:

When you add a sales pipeline (e.g. Start SIP of 50,000 for client A), it is typically to track a sales opportunity. Now, once the client agrees to it, you may want to initiate some activities around it. E.g. if some investments need to be made in new MF folio then you may want to initiate the account opening process, do scheme selection etc. Our Task module is meant for such work only.

We now allow you to link a Task from within the Sales Pipeline tab itself. All the important info from the sales pipeline will be automatically added to the task. You can then assign due date to the task, assign it to your team and so on…

A similar task linkage is possible from the Maturities & Renewals section under  Activity section.

We’ve got a strong pipeline of new features lined up over the coming 2-3 months. Here’s a quick round up for the same:

  • Complete revamp of mobile app
    • Goal tracking facility
    • Online transaction facility
    • Advisor login facility
    • Revamped portfolio tracker
  • Self AUM Reconciliation tool
    • View all unmatched folios at once
    • Automatic updation of unmatched folios with a click of a button
  • Complete revamp of MF MIS section
    • Drill down option at category, sub category, client, applicant wise (like SIP)
    • Asset allocation report at client and AMC level
    • Open ended search capabilities (to give you the exact report you want)
  • Email notifications
    • Client Reminders is coming back
    • Team/Advisor notifications for tasks, sales pipeline, action plan etc.
    • Client notifications – birthdays, new client creation etc.
  • Cash flow projection statement
    • For advanced financial planners
    • Complete life cash flow planning with what if analysis at multiple level.
    • Gives you a great understanding of whether the client’s goals are achievable or not. Builds your conviction when advising your clients on critical matters.
  • BSE integration
  • Apart from this there are lots of refinements and bug fixes happening to existing modules on the fly.
(For RIA) Introducing – Direct Plan – Online transaction availability on IFANOW

(For RIA) Introducing – Direct Plan – Online transaction availability on IFANOW

We’re excited to launch the latest version of IFANOW with Direct Plan transaction capability. With this, if you are an RIA, you can now offer white labeled Direct Plan transaction capability to your clients.

In addition, we’ve added a lot of functionality to the existing Regular Plan modules as well. Here’s a round up of the core features

  • Added sub broker module to execute transactions at sub broker level too
  • You can now add more than one ARN within the same account (E.g. if you have two ARN then you can transact in both using single login functionality)
  • You can execute transactions under ARN and RIA code within the same account too
  • Various fixes on the overall flow to make it even more easier to do transactions faster

Things to note:

  • You need to be pre-registered with NSE to avail this facility. If you are not, then now is a good time to do it as NSE is offering free membership
  • We are also working on BSE & MFU integration currently
Introducing Goal Based Reminders

Introducing Goal Based Reminders

Mutual Fund SIP is a great way to create long term wealth. In recent times, there has been a lot of interest all around due to various factors (mutual fund sahi hai 🙂 ). On top of it, a lot of IFA and RIA are doing a great job in promoting the same. Most of them educate the clients about using SIP as a route towards goal fulfillment.

To further this cause,  we are excited to bring an innovation in the personal finance industry. Up until now, a typical CRM software would send your clients reminders that a premium is due or an MF SIP is due etc. But we are taking it to the next level.

Your clients would now start receiving beautiful, goal-linked reminders. E.g. say you have suggested a client to start an SIP of Rs.15,000 in a scheme linked to a goal. Your clients will now receive emails which shows details of the goals too. This will create a great impact and they will be less likely to stop SIP in case markets start seeing a downwards trend.

See an example email below. This is an SIP reminder. Other reminders like (Life Insurance Premium due, FD maturity etc. will work similarly)

mutual_fund_sip_goal_based_email_reminders

FAQ

  1. What kind of reminders are supported?
    • Fixed Deposit maturity
    • Life Insurance premium due
    • Life insurance maturity
    • Company Fixed Deposit maturity
    • Post Office Fixed Deposit maturity
    • Recurring Deposit maturity
    • NSC/KVP maturity
    • MF SIP reminder
  2. Can I disable reminders for a particular client?
    • Yes, you can. Go to Client Section > Profile > Reminder Settings. You can customize a lot of things here.
    • To manage reminders at global level, go to Settings > Reminder Settings.
  3. I have entered data for all clients, but the Financial Plan is not generated or goal allocation is not done. Can I still send reminders without goal allocation?
    • Yes, the software still sends out reminders with all relevant information except the goal linkage part.
  4. Is the email sent from my email ID?
    • Yes.

Have feedback or ideas? Feel free to put in your comments below or write us on ideas@futurewise.co.in. We’re listening!

Introducing Maturity & Renewal Reports

Introducing Maturity & Renewal Reports

fd_mf_insurance_maturity_renewalManaging various asset classes means more convenience to your clients and more income to you. But it also brings in more operational headache.

Imagine, you are dealing in corporate fixed deposits, life insurance, general insurance, mutual funds and so on.  Or you may have collated client data for financial planning.

Now, what if a large lumpsum is lying ideal in your client’s savings account because an FD or Insurance policy just matured? Isn’t that an opportunity to bring in that business under you? Critical data of these instruments currently resides in various excel sheets or worse still, in physical registers. Isn’t it? Tracking maturities and renewals can be a difficult task.

We’ve got some good news.

At IFAnow, up until now, we allowed you to maintain this data in a more systematic way. Taking this further, we now allow you to track maturities and renewals too.

Here’s whats now possible:

You can now track when these instruments are maturing. You can then decide what you’d like to do for each of these instruments. E.g.

  • Let’s say an FD worth Rs.5,00,000 is maturing for a client. You can now decide whether the FD should be reinvested in another FD or in MF or it should be redeemed.
  • Further, we have integrated our task management system with these reports. So, you can assign a task to your team member to take the matter forward
  • Additionally, you can decide if an e-mail notification should be sent to the client. You customize the frequency of these e-mail notifications from the admin settings panel

You can plan such activity for the whole month in advance so that you or your team members are well prepared.

This will help streamline your operations, bring in more business, increase efficiency, and give better visibility.

We currently allow such tracking for Fixed Deposits, Life Insurance, Bonds, Mutual Fund SIP, NSC/KVP, Recurring Deposits. You can soon expect General Insurance too.

You can find these reports in Planner Section > Activity > Maturity & Renewal

Have feedback or ideas? Feel free to put in your comments below or write us on ideas@futurewise.co.in. We’re listening!

Various updates on IFAnow

Various updates on IFAnow

Of late we’ve added a lot of updates to IFAnow, some big some small. Following is what we’ve added:

  • White labeled Android App launched (App Link). iOS to be launched soon.
    • Price Rs.5,000 for first year
  • New section added – All Clients. It is under Back Office. Features:
    • See list of all clients
    • Reset password
    • Add tags
    • Search by tags
    • Export client list
  • MF Auto Upload
    • Franklin Transaction File now supported for auto upload
  • Online Transaction section
    • Your login credentials are now automatically saved. So, no need to login again and again
  • Mutual Fund Summary/Capital Gains
    • Excel Output Option now added
  • Capital Gains Report
    • PDF output improved
  • Task Management
    • Ability to add Family Member as well
  • Billing & Invoicing
    • Invoices are now GST compliant
  • We’ve reduced pricing of our Billing & Invoicing module. Reduced it from 5% of invoice amount to fixed fee of Rs.5,000/year (upto billing of Rs.5,00,000)
  • Updated our demo video channel with latest videos. It is under Help section. Or watch it here
  • Several bugs and fixes taken care of

What we are currently working on:

  • iOS app
  • Integrated Reminders module
  • More refinements to goal tracker
  • More refinements to Mutual Fund reports
  • Better reporting on Files uploaded
  • Folio Master report
  • Life Insurance premium updation report

Apart from this, we’ve been doing a lots of stuff under the hood. Focus has been on bringing scalability and stability to the system as we grow in user base.

That’s it from us. Your feedback, suggestions are always welcome.

Now Manage Client Privileges Easily on IFAnow

Now Manage Client Privileges Easily on IFAnow

ifanow_section_privilges_gif

We are excited to launch the latest version of IFAnow. Introducing Client Privileges. This has been a sought after feature request from lot of advisors.

With this, you can now decide which client should be given what access. You have an option to fine tune the customization to a very granular level.

For instance

  • You may want to prevent some clients from adding or updating financial portfolio or goals.
  • Or you may want to show Premium sections only to your top clients. This feature allows you to hide sections at a client level very easily.

Settings > Section Privileges

BIG Update – Introducing Advisor Dashboard – One place for all your data

BIG Update – Introducing Advisor Dashboard – One place for all your data

planner_dashboardHaving all the important data at your fingertips can help in making you a super efficient advisor. Sadly, most of the time, this data is scattered across different software, excel files, diaries, e-mail, post it notes etc.

We understand that and we’ve tried to solve that!

Introducing Advisor Dashboard – A single place to access all your important data, instantly. Be it upcoming asset maturities, outstanding tasks, upcoming meetings, important action items or simply viewing your business growth, we’ve got it all covered.

Here’s an exhaustive list of what the Advisor Dashboard has in store for You:

  • Practice Level
    • Total client count
    • Client added in last 30 days
    • Total AUM
    • Total SIP book
    • Manage and track your business goals
  • MF Analytics
    • Recent purchases, Redemptions, Reversals and Rejections
    • Category wise AUM breakup
    • Top AMCs
    • Month wise Gross Sales, Redemptions and Net Sales
  • CRM
    • Tasks and activities
    • Meetings
    • Action plans
    • Sales pipeline
  • Maturities & Renewals
    • SIP, Insurance, FD etc.
  • Financial Planning
    • Upcoming client goals
  • Miscellaneous
    • Upcoming birthdays
    • Minor turning major
    • Recently logged in clients
New udpates to MIS reports – SIP Analytics

New udpates to MIS reports – SIP Analytics

SIP Analytics Screenshot
In continuing our efforts towards building out a robust back office tool, we are excited to launch SIP Analytics – An important part of the MIS reports section. Here’s what we have for you:
  • View total SIP Book
  • List of All SIP
  • SIP Drill down option at
    • AMC Level
    • Scheme Level
    • Client Level
    • Applicant Level
  • Last 6 month data of New SIP, Ceased SIP and Net SIP book
  • SIP Rejections/Reversals
  • List of Expiring SIP
  • List of Expired SIP
  • Analytics
    • SIP Count, Average SIP
    • % of clients without SIP
    • % of SIP not linked to goals
  • Export to excel
Where to locate this: Planner Section > Back Office > MIS Reports > SIP
Other updates:
  • Financial Planning – Retirement Planning now supports two phase asset allocation
  • MF reports – Several refinements to the PDF output
  • Several bugs and fixes